SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 27, 2004
YELLOW ROADWAY CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 0-12255 | 48-0948788 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
10990 Roe Avenue, Overland Park, Kansas 66211
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (913) 696-6100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure
Yellow Roadway Corporation is providing 2003 quarterly statistical information of Roadway Express, Inc. and New Penn Motor Express, Inc., that has been adjusted for conforming accounting policies and the conversion to a calendar quarter. Management has adjusted the 2003 reported results to more accurately compare the results to the current period. The statistical information is set forth in Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
(a) Financial statements of businesses acquired.
Not applicable
(b) Pro forma financial information.
Not applicable
(c) Exhibits.
The following exhibits are filed herewith:
| 99.1 | Certain statistical information of Roadway Express, Inc. and New Penn Motor Express, Inc. for 2003 by calendar quarter. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| YELLOW ROADWAY CORPORATION | ||||
| (Registrant) | ||||
| Date: August 27, 2004 |
By: |
/s/ Donald G. Barger, Jr. | ||
| Donald G. Barger, Jr. | ||||
| Senior Vice President and Chief Financial Officer | ||||
Exhibit 99.1
STATISTICAL INFORMATION
Roadway Express
(Amounts in thousands except per unit data)
| Three Months Ended 3/31/03 |
Amount/ Workday |
Three Months Ended 6/30/03 |
Amount/ Workday |
Three Months Ended 9/30/03 |
Amount/ Workday |
Three Months Ended 12/31/03 |
Amount/ Workday | ||||||||||||||||||||||
| Workdays |
63 | 64 | 64 | 62 | |||||||||||||||||||||||||
| Revenue: |
|||||||||||||||||||||||||||||
| LTL |
$ | 669,979 | $ | 10,634.6 | $ | 683,572 | $ | 10,680.8 | $ | 713,108 | $ | 11,142.3 | $ | 668,722 | $ | 10,785.8 | |||||||||||||
| TL |
50,156 | 796.1 | 55,180 | 862.2 | 57,306 | 895.4 | 62,319 | 1,005.1 | |||||||||||||||||||||
| Subtotal - pickup basis |
720,135 | 11,430.7 | 738,752 | 11,543.0 | 770,414 | 12,037.7 | 731,041 | 11,790.9 | |||||||||||||||||||||
| Revenue recognition adjustment |
(9,900 | ) | (157.1 | ) | 3,600 | 56.3 | (100 | ) | (1.6 | ) | 100 | 1.6 | |||||||||||||||||
| Total a |
$ | 710,235 | $ | 11,273.6 | $ | 742,352 | $ | 11,599.3 | $ | 770,314 | $ | 12,036.1 | $ | 731,141 | $ | 11,792.5 | |||||||||||||
| Tonnage - pickup basis: |
|||||||||||||||||||||||||||||
| LTL |
1,521 | 24.14 | 1,589 | 24.82 | 1,594 | 24.90 | 1,490 | 24.03 | |||||||||||||||||||||
| TL |
302 | 4.80 | 344 | 5.38 | 340 | 5.31 | 362 | 5.85 | |||||||||||||||||||||
| Total |
1,823 | 28.94 | 1,933 | 30.20 | 1,934 | 30.21 | 1,852 | 29.88 | |||||||||||||||||||||
| Shipments - pickup basis: |
|||||||||||||||||||||||||||||
| LTL |
3,219 | 51.09 | 3,364 | 52.57 | 3,308 | 51.69 | 3,059 | 49.33 | |||||||||||||||||||||
| TL |
37 | 0.59 | 42 | 0.66 | 42 | 0.65 | 44 | 0.71 | |||||||||||||||||||||
| Total |
3,256 | 51.68 | 3,406 | 53.23 | 3,350 | 52.34 | 3,103 | 50.04 | |||||||||||||||||||||
| Revenue/cwt. - pickup basis: |
|||||||||||||||||||||||||||||
| LTL |
$ | 22.02 | $ | 21.51 | $ | 22.37 | $ | 22.44 | |||||||||||||||||||||
| TL |
8.29 | 8.01 | 8.43 | 8.60 | |||||||||||||||||||||||||
| Total |
19.75 | 19.11 | 19.92 | 19.73 | |||||||||||||||||||||||||
| Revenue/cwt. - pickup basis: (excluding fuel surcharge) |
|||||||||||||||||||||||||||||
| LTL |
21.13 | 20.79 | 21.70 | 21.72 | |||||||||||||||||||||||||
| TL |
7.96 | 7.65 | 8.14 | 8.33 | |||||||||||||||||||||||||
| Total |
18.94 | 18.45 | 19.32 | 19.10 | |||||||||||||||||||||||||
| Revenue/shipment - pickup basis: |
|||||||||||||||||||||||||||||
| LTL |
208.16 | 203.19 | 215.58 | 218.63 | |||||||||||||||||||||||||
| TL |
1,327.33 | 1,307.64 | 1,367.13 | 1,411.27 | |||||||||||||||||||||||||
| Total |
221.20 | 216.87 | 229.99 | 235.60 | |||||||||||||||||||||||||
| Operating income - as reported |
17,738 | 11,813 | 557 | (34,365 | ) | ||||||||||||||||||||||||
| Adjustments to operating income b |
2,576 | 959 | 26,594 | 27,727 | |||||||||||||||||||||||||
| Operating income - as adjusted |
20,314 | 12,772 | 27,151 | (6,638 | ) | ||||||||||||||||||||||||
| a | Total revenue for 2003 has been adjusted for conforming accounting policies and the conversion to a calendar quarter. |
| b | Adjustments to operating income primarily represent conforming accounting policies, including revenue recognition adjustments and amortization of intangibles, and the conversion to a calendar quarter. Management has adjusted the 2003 reported results to more accurately compare the results to the current period. |
STATISTICAL INFORMATION
New Penn Motor Express
(Amounts in thousands except per unit data)
| Three Months Ended 3/31/03 |
Amount/ Workday |
Three Months Ended 6/30/03 |
Amount/ Workday |
Three Months Ended 9/30/03 |
Amount/ Workday |
Three Months Ended 12/31/03 |
Amount/ Workday | |||||||||||||||||||
| Workdays |
63 | 63 | 64 | 62 | ||||||||||||||||||||||
| Revenue: |
||||||||||||||||||||||||||
| LTL |
$ | 47,403 | $ | 752.4 | $ | 51,361 | $ | 815.3 | $ | 52,809 | $ | 825.1 | $ | 51,400 | $ | 829.0 | ||||||||||
| TL |
3,227 | 51.2 | 3,353 | 53.2 | 3,386 | 52.9 | 3,539 | 57.1 | ||||||||||||||||||
| Subtotal - pickup basis |
50,630 | 803.6 | 54,714 | 868.5 | 56,195 | 878.0 | 54,939 | 886.1 | ||||||||||||||||||
| Revenue recognition adjustment |
— | — | — | — | — | — | — | — | ||||||||||||||||||
| Total a |
$ | 50,630 | $ | 803.6 | $ | 54,714 | $ | 868.5 | $ | 56,195 | $ | 878.0 | $ | 54,939 | $ | 886.1 | ||||||||||
| Tonnage - pickup basis: |
||||||||||||||||||||||||||
| LTL |
193 | 3.06 | 207 | 3.29 | 211 | 3.29 | 209 | 3.37 | ||||||||||||||||||
| TL |
30 | 0.48 | 31 | 0.49 | 32 | 0.50 | 33 | 0.53 | ||||||||||||||||||
| Total |
223 | 3.54 | 238 | 3.78 | 243 | 3.79 | 242 | 3.90 | ||||||||||||||||||
| Shipments - pickup basis: |
||||||||||||||||||||||||||
| LTL |
437 | 6.94 | 469 | 7.44 | 475 | 7.41 | 459 | 7.40 | ||||||||||||||||||
| TL |
4 | 0.06 | 4 | 0.07 | 4 | 0.06 | 4 | 0.06 | ||||||||||||||||||
| Total |
441 | 7.00 | 473 | 7.51 | 479 | 7.47 | 463 | 7.46 | ||||||||||||||||||
| Revenue/cwt. - pickup basis: |
||||||||||||||||||||||||||
| LTL |
$ | 12.30 | $ | 12.41 | $ | 12.54 | $ | 12.31 | ||||||||||||||||||
| TL |
5.37 | 5.36 | 5.28 | 5.43 | ||||||||||||||||||||||
| Total |
11.36 | 11.49 | 11.58 | 11.35 | ||||||||||||||||||||||
| Revenue/cwt. - pickup basis: |
||||||||||||||||||||||||||
| LTL |
11.74 | 11.81 | 11.94 | 11.69 | ||||||||||||||||||||||
| TL |
5.13 | 5.10 | 5.02 | 5.11 | ||||||||||||||||||||||
| Total |
10.85 | 10.93 | 11.03 | 10.77 | ||||||||||||||||||||||
| Revenue/shipment - pickup basis: |
||||||||||||||||||||||||||
| LTL |
108.47 | 109.55 | 111.29 | 111.99 | ||||||||||||||||||||||
| TL |
874.05 | 885.40 | 851.98 | 906.04 | ||||||||||||||||||||||
| Total |
114.88 | 115.77 | 117.44 | 118.69 | ||||||||||||||||||||||
| Operating income - as reported |
2,613 | 5,628 | 4,630 | 3,934 | ||||||||||||||||||||||
| Adjustments to operating income b |
(866 | ) | (613 | ) | 1,383 | 2,188 | ||||||||||||||||||||
| Operating income - as adjusted |
1,747 | 5,015 | 6,013 | 6,122 | ||||||||||||||||||||||
| a | Total revenue for 2003 has been adjusted for conforming accounting policies and the conversion to a calendar quarter. |
| b | Adjustments to operating income primarily represent conforming accounting policies, including revenue recognition adjustments and amortization of intangibles, and the conversion to a calendar quarter. Management has adjusted the 2003 reported results to more accurately compare the results to the current period. |