Consolidated Freightways Inc.: The transportation company said...
Consolidated Freightways Inc.: The transportation company said third-quarter net income fell 77% to $7.4 million. The Menlo Park, Calif., firm’s revenue increased 43% to a record $1.01 billion, reflecting the acquisition of Emery Worldwide. However, the lower profit figure was attributed to expected quarterly losses for Emery Worldwide, which posted a loss even after raising rates, and intense rate discounting in the long-haul trucking market.
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