Aug. 1--Revenue at Werner Enterprises dropped 30 percent in the second quarter and so did operating expenses, leaving profits also 30 percent below those of the second quarter of 2008.

The trucking and transportation services company reported profits of $12.69 million in the quarter that ended June 30 on revenue of $403.05 million. A year earlier, profits were $18.11 million on revenue of $578.18 million.

On a per-share basis, earnings fell from 25 cents in the April-June period of 2008 to 18 cents this year.

Cost-cutting reduced outlays for salaries, wages and benefits by $20 million. Fuel expenditures were down by $97 million. Overall operating expenses dropped to $381.04 million from $547.31 last year.

The freight market continued to be "challenging," the Sarpy County-based company said in its earnings announcement. It improved, however, from what Werner called extremely weak levels of the first quarter.

"Management is cautiously optimistic that freight is bottoming," according to the announcement, but it doesn't expect a meaningful improvement in operating ratio soon.

Werner reduced its truck fleet by 10 percent from the April-June period of 2008. That and shorter hauls reduced miles traveled by 14 percent.

The company said it doesn't plan further significant reductions to its fleet.

Profits for the first six months of the year were $19.59 million, 27 cents a share, on revenue of $797.56 million. Year-earlier profits were $26.49 million, 37 cents, on revenue of $1.09 billion.

Contact the writer:

444-1081, virgil.larson@owh.com

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