Important Amplification Of Yellow Third Quarter Earnings
Important Amplification Of Yellow Third Quarter Earnings
Oct 21, 2002 at 12:00 AM EDT
Important Amplification Of Yellow Third Quarter EarningsOVERLAND PARK, Kan., Oct 21, 2002 -- In response to investor inquiries concerning Yellow Corporation (Nasdaq: YELL) third quarter 2002 earnings, the following information from the earnings release issued earlier this evening is reprinted below:
If SCST had been included in the results of Yellow Corporation for the third quarter of 2002, consolidated income, excluding unusual items, would have been $.51 per share compared to $.24 per share in the third quarter of 2001. On October 18, 2002, SCST reported third quarter 2002 net income of $.27 per share. SCST has approximately 50 percent fewer shares outstanding than Yellow; therefore, their portion of the consolidated $.51 per share would have been $.14 per share.
Due to the spin-off, all financial information relating to SCST has been recorded as discontinued operations.
Investors are encouraged to refer to the full earnings release and listen to the Yellow Corporation conference call, details provided below: A teleconference review of Yellow Corporation third quarter 2002 financial results has been scheduled for Tuesday, October 22, 2002, beginning at 9:30 a.m. Eastern, 8:30 a.m. Central. Hosting the conference call will be: Bill Zollars, Chairman, President and CEO of Yellow Corporation; Don Barger, CFO of Yellow Corporation; James Welch, President of Yellow Transportation; and Jim Ritchie, President of Meridian IQ.
To participate, please dial 1-888-609-3912 and allow five to ten minutes prior to the start of the call. The conference call will be webcast live via StreetEvents at www.streetevents.com and via the Yellow Corporation Internet site www.yellowcorp.com . An audio playback will be available until October 31 by calling 1-800-642-1687 then dialing the access code 5678772. In addition, an audio playback will be available for 30 days via the StreetEvents and Yellow Corporation web sites.
Yellow Corporation is a holding company with wholly owned operating subsidiaries. Its largest subsidiary, Yellow Transportation, offers a full range of national, regional and international services for the movement of industrial, commercial and retail goods. Meridian IQ is a non-asset based company using Web-native technology to provide customers a single source for transportation management solutions and global shipment management. Yellow Technologies is a captive resource providing innovative technology solutions and services exclusively for Yellow Corporation companies. Headquartered in Overland Park, Kansas, Yellow Corporation employs approximately 23,000 people.
SOURCE Yellow Corporation
CONTACT: Analyst, Stephen Bruffett of Yellow Corporation, +1-913-696-6108, steve.bruffett@yellowcorp.com , or Media, Suzanne Dawson of Linden Alschuler & Kaplan, +1-212-329-1420, sdawson@lakpr.com
URL: http://www.yellowcorp.com http://www.prnewswire.com
If SCST had been included in the results of Yellow Corporation for the third quarter of 2002, consolidated income, excluding unusual items, would have been $.51 per share compared to $.24 per share in the third quarter of 2001. On October 18, 2002, SCST reported third quarter 2002 net income of $.27 per share. SCST has approximately 50 percent fewer shares outstanding than Yellow; therefore, their portion of the consolidated $.51 per share would have been $.14 per share.
Due to the spin-off, all financial information relating to SCST has been recorded as discontinued operations.
Investors are encouraged to refer to the full earnings release and listen to the Yellow Corporation conference call, details provided below: A teleconference review of Yellow Corporation third quarter 2002 financial results has been scheduled for Tuesday, October 22, 2002, beginning at 9:30 a.m. Eastern, 8:30 a.m. Central. Hosting the conference call will be: Bill Zollars, Chairman, President and CEO of Yellow Corporation; Don Barger, CFO of Yellow Corporation; James Welch, President of Yellow Transportation; and Jim Ritchie, President of Meridian IQ.
To participate, please dial 1-888-609-3912 and allow five to ten minutes prior to the start of the call. The conference call will be webcast live via StreetEvents at www.streetevents.com and via the Yellow Corporation Internet site www.yellowcorp.com . An audio playback will be available until October 31 by calling 1-800-642-1687 then dialing the access code 5678772. In addition, an audio playback will be available for 30 days via the StreetEvents and Yellow Corporation web sites.
Yellow Corporation is a holding company with wholly owned operating subsidiaries. Its largest subsidiary, Yellow Transportation, offers a full range of national, regional and international services for the movement of industrial, commercial and retail goods. Meridian IQ is a non-asset based company using Web-native technology to provide customers a single source for transportation management solutions and global shipment management. Yellow Technologies is a captive resource providing innovative technology solutions and services exclusively for Yellow Corporation companies. Headquartered in Overland Park, Kansas, Yellow Corporation employs approximately 23,000 people.
SOURCE Yellow Corporation
CONTACT: Analyst, Stephen Bruffett of Yellow Corporation, +1-913-696-6108, steve.bruffett@yellowcorp.com , or Media, Suzanne Dawson of Linden Alschuler & Kaplan, +1-212-329-1420, sdawson@lakpr.com
URL: http://www.yellowcorp.com http://www.prnewswire.com