Boston, MA 05/09/2014 (wallstreetpr) – Con-Way Inc (NYSE:CNW) believes that expanding capacity is a great way to enhance customer satisfaction and attract higher revenue. Coupled with aggressive curb on costs and expenses, the company expects to maintain strong and improving profits to the future. As such, the company recently announced that its less-than-truckload (LTL) subsidiary Con-Way Freight opened a new facility in Robinson, Central Texas. The $3.7 million facility features 48 freight-loading doors and boasts 18,870 sq ft of docking space. That replaces a 22-door facility that it had at Waco where it operated for about 25 years. The facility is expected to increase the company’s capacity, efficiency and flexibility to serve hundreds of customers within a 100-mile radius.
Standing ovation for safety standards
In addition to the expansion, the company was recently honored with a plant safety award from the Truck Trailer Manufacturers Association (TTMA) through its trailer manufacturing subsidiary Con-Way Manufacturing. The latest award marked the fifth time the company has been honored for its plant safety quality.
Con-Way Inc (NYSE:CNW) is a $2.6 billion company that mostly operates through subsidiaries. It provides transportation, logistics and supply chain services with a target of the retail, industrial and manufacturing customers.
1Q shows encouraging results
The company recently reported 1Q2014 results that showed performance improvement over a year ago quarter. However, the company also suffered massively in the hands of the taxman in the latest quarter than in a year earlier. Nonetheless, given the strong performance in the quarter, it was still able to pull through with a bigger earning than Wall Street expected.
Revenue in 1Q was up 2.5 percent to $1.37 billion, ahead of the $1.36 billion that analysts estimated for the quarter. After the taxman action of its 1Q operating profit, the company witnessed its net profits declining 12 percent against the figure realized in 1Q2013. Therefore, earnings per share in the latest quarter came in at 22 cents per diluted share, but still managed to stand 6 cents above the Wall Street expectation. According to Con-Way Inc (NYSE:CNW) management, the latest profit figure was actually 11 percent better than a year earlier figure after certain items are considered.
