Con-way’s profit hurt by legal costs
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From Times Wire Services
Con-way Inc., the largest U.S. regional trucking company, said second-quarter profit dropped 32% because of legal costs and weaker demand.
Net income fell to $48.1 million, or 96 cents a share, from $70.7 million, or $1.30, a year earlier, the San Mateo, Calif.-based company said. Sales slid 2.4% to $1.07 billion.
Con-way overcame a decline in shipments involving multiple customers to post its 11th consecutive quarterly profit and top analysts’ forecasts.
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