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 15, 1997
WERNER ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
NEBRASKA 0-14690 47-0648386
(State or other jurisdiction of (Commission File (IRS Employer
incorporation or organization) Number) Identification No.)
INTERSTATE 80 & HIGHWAY 50
POST OFFICE BOX 45308
OMAHA, NEBRASKA 68145 (402)895-6640
(Address of principal (Zip Code) (Registrant's telephone number)
executive offices)
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ITEM 5. OTHER EVENTS.
On October 15, 1997, the registrant issued a news release announcing its
operating revenues and earnings for the third quarter ended September 30, 1997.
A copy of the news release is filed as an exhibit to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
Exhibit 99.1 News release issued by the registrant on October 15, 1997.
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: October 17, 1997 By: /s/ John J. Steele
John J. Steele
Vice President, Treasurer and
Chief Financial Officer
Date: October 17, 1997 By: /s/ James L. Johnson
James L. Johnson
Corporate Secretary and Controller
Exhibit 99.1
WERNER ENTERPRISES, INC.
14507 Frontier Road
P. O. Box 45308
Omaha, Nebraska 68145-0308
FOR IMMEDIATE RELEASE Contact: Robert E. Synowicki, Jr.
- --------------------- (402) 894-3000
Omaha, Nebraska, October 15, 1997:
- ----------------------------------
Werner Enterprises, Inc. (Werner), a nationwide full-service
transportation company, today reported record operating revenues and
net income for the third quarter ended September 30, 1997. Operating
revenues increased 20% to $200,237,000 compared to $167,155,000 for
the same quarter of the prior year. Net income increased 21% to
$14,199,000 ($.37 per share) for the third quarter of 1997, compared
to $11,732,000 ($.31 per share) for the third quarter of 1996.
Werner's revenue growth was due primarily to a 16% increase in the
average number of tractors in service. Increased revenue from
logistics transportation services also contributed to the growth.
On August 9, 1996, Werner issued shares for a three-for-two common
stock split effected in the form of a 50% stock dividend from
authorized and unissued shares to stockholders of record on July 26,
1996. The number of shares of stock and the per share amounts below
reflect the effect of the stock split.
Quarter Ended September 30 1997 1996
- -------------------------- ---- ----
Operating revenues $200,237,000 $167,155,000
Net income $ 14,199,000 $ 11,732,000
Average common shares outstanding 38,301,000 37,936,000
Earnings per share $ .37 $ .31
Nine Months Ended September 30 1997 1996
- ------------------------------ ---- ----
Operating revenues $565,921,000 $474,698,000
Net income $ 34,180,000 $ 29,043,000
Average common shares outstanding 38,159,000 37,836,000
Earnings per share $ .90 $ .77
The Company's common stock is traded on the Nasdaq National Market
tier of the Nasdaq Stock Market under the symbol WERN.
