Overnite Corporation Updates First Quarter Guidance
08 April 2005 - 4:48PM
PR Newswire (US)
Overnite Corporation Updates First Quarter Guidance RICHMOND, Va.,
April 8 /PRNewswire-FirstCall/ -- Overnite Corporation
(NASDAQ:OVNT) announced today that first quarter 2005 earnings per
share ("EPS") will be at or above the high end of its previously
provided guidance of $0.32 to $0.38 per share. "We continued to see
improvement in our customer mix and a stable pricing environment
during the first quarter. Our daily tonnage growth was consistent
with our expectations of 2% to 3% for the first quarter," stated
Leo H. Suggs, Chairman, CEO, and President of Overnite Corporation.
Overnite Corporation will release first quarter 2005 financial
results after the market closes on April 28, 2005. A conference
call to discuss first quarter results will be held at 8:30 a.m. EDT
on Friday, April 29. Conference call details will be provided
within the next couple of weeks. Overnite Corporation is a leading,
predominately non-union provider of less-than-truckload and
selected truckload services. Overnite provides a full spectrum of
regional, inter-regional, and long-haul services, including full-
state coverage to all 50 states and direct access to more than
45,000 cities in the United States, Canada, Puerto Rico, Guam, the
U.S. Virgin Islands and Mexico. Services are provided by two
primary subsidiaries: Overnite Transportation Company (Richmond,
VA) and Motor Cargo Industries, Inc. (Salt Lake City, UT). The
Corporation's two subsidiaries operate more than 200 service
centers, a fleet of over 6,000 tractors and 22,000 trailers.
Forward-looking statements made by the Company are based on a
number of assumptions, estimates and projections. These statements
are not guarantees of future performance and involve risks and
uncertainties, including those set forth in documents filed by the
Company with the Securities and Exchange Commission, and any
significant deviations from these assumptions could cause actual
results to differ materially from those in forward-looking
statements. The Company undertakes no obligation to revise or
update such statements to reflect current events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events. DATASOURCE: Overnite Corporation CONTACT: Ira Rosenfeld,
Director, Corporate Communications, +1-804-291-5362, , or Mike
Mahan, Vice President - Treasurer and Planning, +1-804-231-8852,
both of Overnite Corporation Web site: http://www.overnite.com/
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