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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 19, 2000
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YELLOW CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-12255 48-0948788
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
10990 Roe Avenue, P. O. Box 7563, Overland Park, Kansas 66207
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (913) 696-6100
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No Changes.
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
Yellow Corporation's third quarter 2000 earnings release through PR Newswire
contained a typographical error (transposition) in the amount disclosed as Total
Operating Expenses on the Statement of Consolidated Operations for the quarter
ended September 30, 2000. The earnings release disclosed total operating
expenses (in thousands) of $857,537 and the correct amount of total operating
expenses (in thousands) should have read $875,537. Attached is a revised
Statement of Consolidated Operations.
Yellow Corporation is a holding company with wholly owned operating subsidiaries
specializing in the national, regional and international transportation of goods
and materials. Transportation.com is a jointly owned subsidiary providing an
Internet transportation marketplace for information-rich products and services
targeted to shippers, carriers and private fleet operators. Headquartered in
Overland Park, Kansas, Yellow employs approximately 32,000 people.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
YELLOW CORPORATION
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(Registrant)
Date: October 19, 2000 /s/ H. A. Trucksess, III
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H. A. Trucksess, III
President Regional Carrier Group and
Interim Chief Financial Officer
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STATEMENTS OF CONSOLIDATED OPERATIONS
Yellow Corporation and Subsidiaries
For the Quarter and Nine Months Ended September 30, 2000 and 1999
(Amounts in thousands except per share data)
(Unaudited)
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<CAPTION>
Third Quarter Nine Months
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
OPERATING REVENUE $ 918,898 $ 860,983 $2,705,150 $2,344,537
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OPERATING EXPENSES:
Salaries, wages and benefits 564,569 541,427 1,674,782 1,500,088
Operating expenses and supplies 143,636 126,456 420,706 354,394
Operating taxes and licenses 27,513 26,375 83,965 72,901
Claims and insurance 20,332 19,111 60,928 52,606
Depreciation and amortization 32,062 29,683 95,179 79,241
Purchased transportation 87,425 84,039 254,939 215,384
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Total operating expenses 875,537 827,091 2,590,499 2,274,614
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INCOME FROM OPERATIONS 43,361 33,892 114,651 69,923
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NONOPERATING (INCOME) EXPENSES:
Interest expense 5,126 4,544 15,071 10,295
Other, net 3,720 1,662 6,627 1,629
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Nonoperating expenses, net 8,846 6,206 21,698 11,924
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INCOME BEFORE INCOME TAXES 34,514 27,686 92,953 57,999
INCOME TAX PROVISION 14,961 11,775 39,412 24,355
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NET INCOME $ 19,553 $ 15,911 $ 53,541 $ 33,644
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AVERAGE SHARES OUTSTANDING-BASIC 24,427 24,866 24,949 25,042
========= ========= ========== ==========
AVERAGE SHARES OUTSTANDING-DILUTED 24,503 25,009 25,075 25,211
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BASIC EARNINGS PER SHARE $ .80 $ .64 $ 2.15 $ 1.34
DILUTED EARNINGS PER SHARE $ .80 $ .64 $ 2.14 $ 1.33
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