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):
July 16, 1996
WERNER ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
NEBRASKA 0-14690 47-0648386
(State or other jurisdiction of (Commission File (I.R.S.Employer
incorporation or organization) Number) Identification No.)
INTERSTATE 80 & HIGHWAY 50
POST OFFICE BOX 37308
OMAHA, NEBRASKA 68137 (402)895-6640
(Address of principal (Zip Code) (Registrant's telephone number)
executive offices)
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ITEM 5. OTHER EVENTS.
On July 16, 1996, Werner Enterprises, Inc. (the Company) announced that
its Board of Directors declared a three for two split of the Company's common
stock effected in the form of a 50 percent stock dividend. The stock split
will be payable on or about August 9, 1996 to stockholders of record at the
close of business on July 26, 1996. No fractional shares of common stock will
be issued in connection with the stock split. Stockholders entitled to
fractional shares will receive a proportional cash payment based on the closing
price of a share of common stock on July 26, 1996. A copy of the Company's
press release pertaining to the above announcement is attached as Exhibit 99
and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
Exhibit 99 Press Release issued by the Company on July 16, 1996.
SIGNATURES
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.
WERNER ENTERPRISES, INC.
Date: July 16, 1996 By: /s/ Robert E. Synowicki, Jr.
Robert E. Synowicki, Jr.
Executive Vice President and
Chief Financial Officer
Date: July 16, 1996 By: /s/ John J. Steele
John J. Steele
Vice President - Controller and
Secretary
WERNER ENTERPRISES, INC.
Interstate 80 & Highway 50
P. O. Box 37308
Omaha, Nebraska 68137
FOR IMMEDIATE RELEASE Contact: Robert E. Synowicki, Jr.
(402) 894-3000
Omaha, Nebraska, July 16, 1996:
Werner Enterprises, Inc., a nationwide full-service transportation
company, today reported its operating revenues and earnings for the
second quarter ended June 30, 1996. Operating revenues increased 11%
to $159,640,000 compared to $143,325,000 for the same quarter of the
prior year. Net income increased 17% to $10,023,000 ($.40 per share)
for the second quarter of 1996, compared to $8,578,000 ($.34 per
share) for the 1995 second quarter. Net income grew by a larger
percentage than operating revenues, due primarily to improved freight
demand during the second quarter of 1996, compared to the same period
of 1995.
In addition, the Company announced today that its Board of Directors
has declared a three for two split of the Company's common stock
effected in the form of a 50 percent stock dividend. The stock split
will be payable on or about August 9, 1996 to stockholders of record
at the close of business on July 26, 1996. No fractional shares of
common stock will be issued in connection with the stock split.
Stockholders entitled to fractional shares will receive a proportional
cash payment based on the closing price of a share of common stock on
July 26, 1996. If a stockholder is contemplating a trade of stock
from the record date to the payable date, he or she should consult his
or her stockbroker as to entitlement of the split shares.
The Company's common stock is traded on the NASDAQ National Market
System under the symbol WERN.
Quarter Ended June 30 1996 1995
Operating revenues $159,640,000 $143,325,000
Net income $ 10,023,000 $ 8,578,000
Average common shares outstanding 25,197,000 25,161,000
Earnings per share $ .40 $ .34
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WERNER ENTERPRISES, INC.
Omaha, Nebraska, July 16, 1996 -- Page 2
Six Months Ended June 30 1996 1995
Operating revenues $307,543,000 $275,759,000
Net income $ 17,311,000 $ 16,090,000
Average common shares outstanding 25,191,000 25,180,000
Earnings per share $ .69 $ .64
