Earnings Call Excerpt
YRC Worldwide Inc. (YRCW)
Q1 2009 Earnings Call
April 24, 2009; 9:30 am ET
Executives
Bill Zollars - Chairman, President and Chief Executive Officer
Tim Wicks - Chief Financial Officer
Sheila Taylor - Vice President of Investor Relations
Analysts
Tom Wadewitz - JP Morgan
Justin Yagerman - Wachovia
Edward Wolfe - Wolfe Research
Jon Langenfeld - Baird
David Ross - Stifel Nicolaus
Thom Albrecht - Stephens Inc.
Greg Olif - BB&T Capital
Presentation
Operator
Good morning. My name is Leslie, and I will your conference facilitator today. At this time I would like to welcome everyone to the YRC Worldwide first quarter earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer period. (Operator Instructions)
I would now turn the call over to Sheila Taylor, Vice President, Investor Relations.
Sheila Taylor
Thanks, Leslie. Good morning and thanks for joining us for the YRC Worldwide first quarter 2009 earnings call. Bill Zollars, the Chairman, President, and CEO of YRC Worldwide; and Tim Wicks, our CFO, will provide our comments this morning. Our operating company President Mike Smid, Keith Lovetro and Jim Ritchie are available for questions. I would also like to welcome [Jeff Schiebel], our new Director of Investor Relations to the call. Jeff has been with YRC for a few years in our forecasting area and I’m pleased to have him on the team.
Now for our disclaimers; statements made by management during this call that are not purely historical are forward-looking statements. This includes statements regarding the company’s expectations and intentions on strategies regarding the future.
It is important to note that the company’s future results could differ materially from those projected in such forward-looking statements due to a variety of factors. The format of this call does not allow us to fully discuss all these risk factors. For a full discussion, please refer to last night’s earnings release, and our SEC filings including our 10-K and today’s 8-K filings.
I will now turn the call over to Bill.
Bill Zollars
Thanks Sheila good morning. The first quarter was historic, not only for YRC, but for the LTL industry as we successfully integrated Yellow and Roadway into the most comprehensive single network in the market. This did require a lot of hard work and effort by our employees, and a lot of patients have support from our customers. The process wasn’t perfect, and we had some hurdles in the first couple of weeks, but given the size of the integration and the history of our industry, we feel very good about what we accomplished in a relatively short period of time.
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