-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CyqYIW/U4dZiqdgKVaXTio1YivPdoIZ5DlNMX5T+YgqNl5ypiG/vAC7sQ64NfsEz MgMWBVCnP+JraNbsxZPwsQ== 0000793074-99-000010.txt : 19990419 0000793074-99-000010.hdr.sgml : 19990419 ACCESSION NUMBER: 0000793074-99-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990415 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WERNER ENTERPRISES INC CENTRAL INDEX KEY: 0000793074 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 470648386 STATE OF INCORPORATION: NE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-14690 FILM NUMBER: 99596054 BUSINESS ADDRESS: STREET 1: 14507 FRONTIER ROAD STREET 2: P O BOX 45308 CITY: OMAHA STATE: NE ZIP: 68145 BUSINESS PHONE: 4028956640 8-K 1 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): April 15, 1999 WERNER ENTERPRISES, INC. (Exact name of registrant as specified in its charter) NEBRASKA 0-14690 47-0648386 (State or other jurisdiction of (Commission File (IRS Employer incorporation or organization) Number) Identification No.) 14507 FRONTIER ROAD POST OFFICE BOX 45308 OMAHA, NEBRASKA 68145 (402)895-6640 (Address of principal (Zip Code) (Registrant's telephone number) executive offices) ITEM 5. OTHER EVENTS. On April 15, 1999, the registrant issued a news release announcing its operating revenues and earnings for the first quarter ended March 31, 1999. A copy of the news release is filed as an exhibit to this Form 8-K. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. Exhibit 99.1 News release issued by the registrant on April 15, 1999. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WERNER ENTERPRISES, INC. Date: April 15, 1999 By: /S/ John J. Steele -------------------------- ----------------------------- John J. Steele Vice President, Treasurer and Chief Financial Officer Date: April 15, 1999 By: /S/ James L. Johnson -------------------------- ----------------------------- James L. Johnson Corporate Secretary and Controller EX-99 2 WERNER ENTERPRISES, INC. 14507 Frontier Road P. O. Box 45308 Omaha, Nebraska 68145 FOR IMMEDIATE RELEASE Contact: Robert E. Synowicki, Jr. - --------------------- Executive Vice President and Chief Operating Officer (402) 894-3000 John J. Steele Vice President, Treasurer and Chief Financial Officer (402) 894-3000 WERNER ENTERPRISES REPORTS RECORD FIRST QUARTER 1999 OPERATING REVENUES AND EARNINGS Omaha, Nebraska, April 15, 1999: - ------------------------------- Werner Enterprises, Inc. (Werner), one of the nation's five largest truckload transportation companies, today reported record operating revenues and earnings for the first quarter ended March 31, 1999. Operating revenues for first quarter 1999 increased 21% to $241.0 million compared to $199.7 million in the first quarter of 1998. Net income for first quarter 1999 increased 16% to $12.6 million compared to $10.9 million in the first quarter of 1998. Earnings per share increased 17% from $.23 per share to $.27 per share. "Continued strong fleet growth and solid demand from our diversified customer base produced these record results," said Chairman and Chief Executive Officer Clarence L. Werner. "We improved our driver recruiting by adding 400 tractors over the past three months and 1,050 tractors over the last year. Our fleet growth in first quarter 1999 was over 160% of our fleet growth in first quarter 1998. We are significantly ahead of pace for our goal of adding 900 tractors in 1999. If demand for our services remains strong and our driver recruiting success continues, we may exceed our truck growth goal for 1999. We are also ahead of pace to reach our goal of generating a billion dollars of revenue in 1999."
INCOME STATEMENT DATA (Unaudited) (In thousands) Quarter % of Quarter % of Ended Operating Ended Operating 3/31/99 Revenues 3/31/98 Revenues ---------- ---------- ---------- ---------- Operating revenues $240,980 100.0 $199,707 100.0 ---------- ---------- ---------- ---------- Operating expenses: Salaries, wages and benefits 89,321 37.1 74,303 37.2 Fuel 14,008 5.8 14,698 7.4 Supplies and maintenance 20,138 8.3 17,509 8.8 Taxes and licenses 19,766 8.2 15,852 7.9 Insurance and claims 9,390 3.9 6,645 3.3 Depreciation 23,535 9.8 19,459 9.7 Rent and purchased transportation 42,327 17.6 33,377 16.7 Communications and utilities 3,099 1.3 2,559 1.3 Other (1,847) (0.8) (2,838) (1.4) ---------- ---------- ---------- ---------- Total operating expenses 219,737 91.2 181,564 90.9 ---------- ---------- ---------- ---------- Operating income 21,243 8.8 18,143 9.1 ---------- ---------- ---------- ---------- Other expense (income): Interest expense 1,198 0.5 1,006 0.5 Interest income (330) (0.1) (420) (0.2) Other 17 0.0 20 0.0 ---------- ---------- ---------- ---------- Total other expense 885 0.4 606 0.3 ---------- ---------- ---------- ---------- Income before income taxes 20,358 8.4 17,537 8.8 Income taxes 7,736 3.2 6,664 3.4 ---------- ---------- ---------- ---------- Net income $ 12,622 5.2 $ 10,873 5.4 ========== ========== ========== ========== Diluted shares outstanding 47,570 48,164 ========== ========== Diluted earnings per share $.27 $.23 ========== ==========
BALANCE SHEET DATA (In thousands) As of As of 3/31/99 12/31/98 ---------- ---------- Current assets $154,655 $145,265 Total assets 817,424 769,196 Current liabilities 125,191 * 91,907 Long-term debt 100,000 100,000 Stockholders' equity 452,377 440,588
* Current liabilities includes $20 million of short-term debt at March 31, 1999. Werner Enterprises is a full-service transportation company providing truckload and other transportation services throughout the 48 states, portions of Canada and Mexico. The Company was founded in 1956 by C.L. Werner. Werner is one of the nation's five largest truckload carriers with a fleet of 6,550 trucks and 16,980 trailers. Werner Enterprises' common stock is traded on The Nasdaq Stock Market under the symbol WERN. The Werner Enterprises web site address is www.werner.com. -------------- Note: This press release may contain forward-looking statements which are based on information currently available. Actual results could differ materially from those anticipated as a result of a number of factors, including, but not limited to, those discussed in Item 7 of the Company's Annual Report on Form 10-K for the year ended December 31, 1998. -----END PRIVACY-ENHANCED MESSAGE-----