ROADWAY EXPRESS 3RD-QUARTER NET INCOME UP 12%

ROADWAY EXPRESS 3RD-QUARTER NET INCOME UP 12%

   Roadway Express Inc., the Akron, Ohio-based motor carrier, said third-quarter net income increased 12.4 percent to $10.85 million, despite a decline in tonnage.

   Revenue increased 7.2 percent to $698.9 million for the quarter ending Sept. 9.

   Revenue per ton increased 9.0 percent, while tonnage for the quarter was down 1.7 percent. Operating expenses rose 8.8 percent over 1999. Less-than-truckload tonnage decreased 0.2 percent while truckload tonnage fell 7.8 percent.

   “On Sept. 1, we implemented a general freight rate increase of approximately 5.6 percent that had a very minor impact on our third quarter,” said Michael W. Wickham, chairman and chief executive officer of Roadway Express. “We expect to see the full benefit of this increase in our fourth quarter.

   Through three quarters, net income rose 23.4 percent to $31.11 million, on revenue of $2.08 billion, up 10.9 percent.