- M. Stanley Looks to Sell China Investment Bank Stake
- Fed's Bullard: Tighten Only When Recovery's 'Solid'
- Ida Downgraded to Category 1 Hurricane
- Kraft to Formalize Hostile Cadbury Bid on Monday
- GE, Comcast Agree on NBC Universal Valuation
- Hottest Zip Codes for Home Prices
- US Home Values Follow Sales Higher, For Some
- China Urges US to Control Deficit to Stabilize Dollar
- US Health Care Reforms Face Tough Path in Senate
- Tamminen: Why Does Oklahoma Want To Drown New York?
- Food Network, HGTV Drive Scripps Networks' Upside Surprise
- Tommy Lee, Medical Tourism and Nasty Santa, Your Emails
- U.S. Markets Gain 3% for the Week Despite 10.2% Unemployment
- Disney's 'Carol' Tests Widest 3-D Release Ever
- Stimulus II? Jobs Tax Credit=Cash For Clunkers
- Rockwell Automation Earnings: What Options Are Saying
- Gold Will Touch Higher Lows and Higher Highs: Analyst
- Is Misery Alive And Well in Your Office?
- Allianz makes Q3 net profit of euro1.32 billion
- Dubai ruler: bonds with Abu Dhabi strong
- Puma Q3 net income falls 24 percent
- Aer Lingus Q3 revenue down 10 pct
- NTT net profit down 38 percent on mobile weakness
- Anti-corruption activists gather in Doha
- Deadline looms for Kraft to make Cadbury bid
- AXA Asia Pacific Holdings spurns $10B takeover bid
- GM says China sales more than double in October
Text Size 
SAN MATEO, Calif. - Trucking company Con-way Inc. said Tuesday its third-quarter profit dropped by nearly two-thirds from a year ago as the recession further hurt demand. The company warned investors that near-term prospects earnings growth were slim.
Con-way said it earned $13.5 million, or 27 cents per share, during the quarter that ended Sept. 30. That was down from a profit of $38.8 million, or 81 cents per share, during the same period a year earlier.
Revenue fell 17.3 percent to $1.13 billion, from $1.37 billion a year earlier.
The company said it would have earned 39 cents per share if not for accounting changes and tax charges.
The adjusted results were below the expectation of analysts surveyed by Thomson Reuters, who were expecting a profit of 52 cents per share on revenue of $1.14 billion.
President and CEO Douglas W. Stotlar said "the business environment continues to present formidable challenges, characterized by weak demand, excess capacity and pricing pressure. We expect these conditions to persist in the near term, diminishing the prospects for earnings growth."
Con-Way shares fell 72 cents, or 2.2 percent, to $31.90 in after-hours trading after closing the regular session up 62 cents at $32.62.
Print
Email
- Rumors abound that Oprah will leave her show to start a new network. What would this mean for daytime TV?
- A private equity specialist sponsored a stand-up comedy troupe in New York to prove that CEOs can, in fact, be funny.
- Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
- Did Hideki Matsui’s performance make it more likely that the Yankees will pay to have him back?
- Which wines should you bring—or serve—with holiday meals this year? Ask a connoisseur.
- Two competitors in this year’s World Series of Poker in Las Vegas have stories fit for Hollywood.
Data is a real-time snapshot *Data is delayed at least 15 minutes