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The company plans to amend its certificate of incorporation on September 30, 2010 to implement a reverse stock split with a ratio of 1:25. The reverse stock split will be effective on the NASDAQ exchange on October 1, 2010. The reverse stock split will reduce the number of authorized common shares to 80 million from the current 2 billion and reduce the number of outstanding common shares to approximately 48 million from the current approximately 1.2 billion.
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Wertpapier: Yellow Corp |
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Wertpapier: Yellow Corp |
From The Associated Press, November 5, 2010 - 11:50 AM
The Overland Park, Kan. company, which operates trucks under Roadway, Yellow and New Penn names, posted a loss of $61.7 million, or $1.33 per share, compared with a year-ago loss of $158.7 million, or $66.66 per share. The company had an average of 46.5 million shares outstanding in the most recent quarter compared with an average of just 2.4 million shares outstanding a year ago. The company approved a 1-for-25 reverse stock split which was effective on Oct. 1.
Revenue fell slightly to $1.14 billion from $1.2 billion a year earlier.
Analysts polled by Thomson Reuters expected a loss of $1.33 per share
Shipments per day at the company's national unit fell 12.2 percent. At its regional unit, shipments were up 2.5 percent.
http://www.canadianbusiness.com/markets/...icle.jsp?content=D9JA2FN00
YRC Worldwide
OVERLAND PARK, Kan., Nov. 5, 2010 — OVERLAND PARK, Kan. Nov. 5, 2010 /PRNewswire-FirstCall/ --
- YRC National Tonnage up 1.2% and YRC Regional up 2.1% from Second Quarter 2010
- Achieved Significant Progress on Comprehensive Recovery Plan
YRC Worldwide Inc. (Nasdaq: YRCW) today reported its third quarter 2010 results. For the third quarter ending September 30, 2010, the company announced a net loss of $62 million and a $1.33 loss per share on average outstanding diluted shares of 46.5 million. As a comparison, the company reported a net loss of $159 million and a $66.66 loss per share in the third quarter of 2009 with average outstanding diluted shares of 2.4 million. The numbers of shares and the per share amounts for all periods presented within this release reflect the 1:25 reverse stock split which was effective on October 1, 2010.
"We are pleased with the continued support of our customers and our employees who remain focused on delivering results," stated Bill Zollars, Chairman, President and CEO of YRC Worldwide. "We have achieved significant progress on our comprehensive recovery plan with the ratification of our new labor contract and the renewal of our ABS facility."
For the third quarter of 2010, the company reported positive cash flow from operating activities of $5 million which included positive adjusted EBITDA which was in excess of working capital requirements, cash interest and restructuring professional fees. Adjusted EBITDA is a non-GAAP measure that reflects the company's earnings before interest, taxes, depreciation, and amortization expense, and further adjusted for letter of credit fees, equity-based compensation expense, net gains or losses on property disposals and certain other items, including restructuring professional fees and results of permitted dispositions and discontinued operations as defined in the company's credit agreement.
During the third quarter of 2010, the company issued $20.2 million in 6% notes and used the proceeds to retire approximately $20 million of 5% notes. The company repaid $25 million in borrowings under its asset-backed securitization ('ABS') facility, sold excess property of $36 million and entered into $3 million of new sale and financing leasebacks during the quarter. In addition, the company closed on the previously announced $38.7 million sale of the majority of its YRC Logistics business and used the net proceeds to pay down borrowings under the credit agreement. During 2010, the company has reduced its total debt by $73 million.
At September 30, 2010, the company reported cash and cash equivalents of $115 million, unrestricted revolver availability of $46 million and unused restricted revolver reserves of $123 million, subject to the terms of the company's credit agreement, for a total of $284 million.
"We continue to effectively manage our working capital, reduce debt and improve our cash flow, as demonstrated by the significant sequential improvement in our cash flow from operating activities from second quarter to third quarter," stated Sheila Taylor, Executive Vice President and CFO of YRC Worldwide.
As previously announced, during October 2010, the company renewed its ABS facility at $325 million through October 19, 2011.
http://www.centredaily.com/2010/11/05/2320007/...s-third-quarter.html
46,530
AVERAGE SHARES OUTSTANDING-DILUTED
46,530
Dachte auch, dass die in den 80 Mio. Authorized bereits enthalten wären...!?
Gruß,
T.
dass die 47 mio.outstanding shares (Aktien die im Umlauf sind) nicht teil der authorized shares sind. desweiteren, dürfen nur noch 13 mio aktien von yrcw ausgegeben werden, das steht in so ner investor info; hab aber keine lust das jetzt rauszusuchen, ist schließlich WE!
heute unter 4,00 $, super Aktie, wenn wir da mal noch mit unserem Einstandspreis wieder rauskommen in den nächsten 2 Jahren, dann müssen wir froh sein. Note 1 YRCW!!! Hier wird es sehr Long. So jetzt schläft die Aktie erst mal für ein paar Monate ein und es wird sich nicht viell tun bis Q4
Zum Thema KE durch Ausgabe der 32MIo Aktien habe ich schon die ganze Zeit betont, dass ich es ebenso sehe und die so spät als möglich ausgeben würde... denn wird Q4 wirklich endlich Gewinne abwerfen, dann wird der Kurs gewaltig steigen...
Bis dahin werden wir zwischen 3,50-4,50 Dollar rumeiern denke ich evtl mal nen Angriff auf die 5 wenn es irgendwas Positives vorab gibt.
hier muss ein riesiges unternehmen saniert werden, desweiteren sind von den 32 mio. noch offenen aktien ein paar in optionen, somit sind nur ca. 12-15 mio. glaube ich in richtigen aktien auszugeben!
(müsst ihr mal wie schon geschrieben die investors-berichte bei yrc durchblättern!)
jense wenn du mit verlust ins jahr 2011 gehst, dann startest du aber mit null verlusten!
was heisst, du musst bei deinem gewinn erstmal die steuer von 25%+ eintraden!!!
es seidenn du hast was zum abschreiben bzw gegen schreiben in der steuererklärung von diesem jahr!!!
gruss
was heisst, du musst bei deinem gewinn erstmal die steuer von 25%+ eintraden!!!"
Verlustvortrag ins nächste Jahr auch bei Aktienverlusten möglich. Erkundige dich mal bei deiner Bank.
Denn auch ich bin hier investiert, habe den Splitt bewußt mitgemacht und bei unter 4 Dollar reichlich nachgekauft, so dass ich den heutigen Kurs eingerechnet, bei 7% minus stehe.
Ärgerlich, trotzdem glaube auch ich, das wir mittelfristig den break bis Ende 2011 um die 7,50 Dollar und vielleicht sogar noch höher sehen werden. Das bedeutet allerdings für alle die auf Sekko reingefallen sind, oder haben sich von ihm und seinen Forums Lakaien verführen lassen, (wiederum ist jeder sebst für sich verantwortlich an der Börse) dass sie geduldig sein müssen. Der Splitt war bei 0,25 Dollar und entspricht dann 6,25 Dollar. Solange wir hier keinen Voll KO erleben, errreichen wir unser Ziel, wobei jeder ein anderes Ziel bzw. Einstiegskurs hat.
Wünsche uns allen Geduld und gutes Gelingen. Bin wieder raus aus dem Forum.
Ich habe mich eben entschiedn nicht alles zu verkaufen... habe aber die Hälfte dann bei 4,4 verkauft ... aber bin Dir ja keine Rechenschaft schuldig...
am Tage des Splits standen wir übrigens direkt nachbörslich bei 0,33$ was über 8$ umgerechnet werden, wenn Du hier schon einen aug klug machst
1 Tag vor seinem größten Triumpf, hat man ja wenigstens Resi gesperrt, das wäre was geworden.
Der Prinz käme besser an, wenn er die Meldungen mit seinen eigenen Worten analysieren würde, als das Forum voll zu müllen und man könnte besser erkennen, ob er es überhaupt selbst verstanden hat, was er uns zumutet.
Bei YRC vermisse ich klare Aussagen vom Unternehmen, sodaß die Anleger von einer gewissen Grauzone eingenebelt werden, die sogenannte Image oder Kurspflege fehlt völlig. Viele erwartungsvolle Anleger verlieren die Nerven und der Kurs fällt. Hier eine Strategie abzugeben, ist sehr schwierig.
YRC ist wie ein Minnirock, er gibt sehr viel preis, aber das Wichtigste verdeckt es.
Schönes weekend
N8
Blauwal
The expected savings from the work rule changes in this contract which are being implemented now are designed to offset the cost of resuming those pension contributions. A large portion of the work rule savings comes from a change in vacation rules which impacts the accrual for 2011 vacation. In addition the work rule changes allow us to better match our work force and each network and respond to the dynamic demand of our customers supply chains. For example, we can better meet peak demand times which occur during each work day through the use of 4 hour shifts and additional stagger start times.
And use with multiple start days for our employees allows us to manage the normal variability of customer demand during the week. Finally, we’ll be able to keep the freight moving faster. Fewer hand-offs with these new efficiencies in our network operations. All of this means we can provide better response to our customer’s needs, for improving the costs productivities at the same time, moving on.
As you probably know by now ABS has filed a suit in U.S. District Court of Arkansas attempting to nullify our contract with our Teamster Employees. Their claim is in direct contradiction to the laws governing labor contracts and in direct contradiction to their specific statements regarding their intention to not be bound by any agreements with TMI and the IBT. They are not a party to our labor contract. Let me give you some historical background.
For the five year labor contract which began on April 1st, 2008 ABS decided not to bargain with YRC and Holly. In August 2007, latter Bob Davidson, former CEO of ABS stated, “ABS will not consider itself bound to any such agreement, reached between TMI and the IBT.” In another August 2007 letter to the Teamsters, Mr. Davidson stated, “ABS hereby gives notice that it will conduct future negotiations directly with the IBT in order to enter into a new collective bargaining agreement applicable only to ABS.” ABS then dropped out of our negotiations of the 2008 contract and never became a party to our contract; later ABS was unable to negotiate a deal of their own and decided to enter into a contract with their employees that we’ve been told was on the same terms as the agreement that YRC and Holland has negotiated. We’re not a party to their labor contract with their employees.
Early this year ABS again tried to desperately negotiate; this time it was for an amendment to their 2008 labor contract. ABS proposed amendment was presented to its employees for ratification and was voted down. This very amendment stated that ABS was not part of our contract or our multi-employer bargaining unit. With the recent actions ABS is now interfering with our contract with our employees. We’ve sacrificed so much and approved three amendments. We will vigorously defend the decisions that our employees have made. Due to the pending litigation we won’t comment further on this call but we will update you as we file our quarterly response. Now I’ll turn it back over to Bill for closing.
Thanks, Mike, before wrapping up as you know I’ve informed the board of my intention to retire and the board has formed a search committee with the focus primarily on external candidates. I’m happy with the quality of leadership shown throughout the organization and believe it is a key contributor to our improved operating performance. I look forward to being involved in the process to find my replacement that will lead the company through its next chapter. Let me close by reiterating what Sheila said in that we are on an ongoing discussions with our stake holders in order to complete the final steps in our comprehensive recovery plan. We believe the steps we have already taken can demonstrate the continued support of all of our stakeholders including our employees, the IBT, our lenders, the pension funds and of course our customers. Because of where we are in the process we’re not going to be taking any specific questions on this topic today. We’ll now take your questions related to the business and we would ask that you limit yourself to just one question with one follow up.
http://seekingalpha.com/article/235092-yrc-worldwide-ceo-discusses-q3-2010-results-earnings-call-transcript?source=feed