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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported): June 22, 1998
ROADWAY EXPRESS, INC.
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(Exact name of registrant as specified in charter)
Delaware 0-600 34-0492670
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
1077 Gorge Boulevard, Akron, Ohio 44310
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(Address of Principal Executive Offices) (Zip Code)
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(Former Name or Former Address, if Changed Since Last Report)
Registrant's telephone number, including area code: (330) 384-1717
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ITEM 5. OTHER EVENTS
On June 22, 1998, the Registrant announced that its Board of
Directors authorized the purchase from time to time of up to $20,000,000 of the
Registrant's common stock. Such purchases may be made in the open market,
through block trades or otherwise. Depending on market conditions and other
factors, such purchases may be commenced or suspended at any time without prior
notice.
Reference is made to the News Release, dated June 22, 1998, a
copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
ITEM 7 FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
a) Financial Statements of business acquired:
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None.
b) Pro forma financial information:
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None.
c) Exhibits.
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99.1 News Release, dated June 22, 1998, incorporated herein by
reference.
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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.
ROADWAY EXPRESS, INC.
By: /s/ John M. Glenn
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Name: John M. Glenn
Title: Vice President-General Counsel
and Secretary
Dated: June 24, 1998
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Exhibit 99.1
[Roadway Express, Inc. Logo]
1077 Gorge Boulevard - P.O. Box 471 - Akron, OH 44309-0471 - (330) 384 1717 -
Fax: (330) 258 6082
CONTACT:
John M. Hyre
Corporate Relations
330-258-6080
FOR IMMEDIATE RELEASE
ROADWAY EXPRESS BOARD AUTHORIZES STOCK REPURCHASE
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AKRON, Ohio -- June 22, 1998 -- Roadway Express, Inc. (NASDAQ: ROAD) today
announced that its Board of Directors has authorized the purchase from time to
time of up to $20,000,000 of the Company's common stock. Such purchases may be
made in the open market, through block trades or otherwise. Depending on market
conditions and other factors, such purchases may be commenced or suspended at
any time without prior notice.
"At current price levels, Roadway stock represents a very attractive
investment," stated Michael W. Wickham, Chairman of the Board of Directors and
CEO of Roadway Express. "Our strong financial position permits us to take
advantage of this excellent investment opportunity without impairment to our
corporate liquidity, further enhancing the benefit to our shareholders. In
addition, this action reflects the confidence the Board of Directors and
management have in the future of our Company."
Some of the comments made are forward-looking statements. The Company's actual
performance may differ from that forecast as a result of variable factors such
as the state of the national economy, capacity and rate levels in the
motor-freight industry, and the success of the Company's operating plans.
Included on the Dow Jones Transportation Average, Roadway Express is a leading
less-than-truckload (LTL) motor carrier, providing service in the two-day and
longer national and international markets. The Company provides seamless service
throughout the entire North American trading market and offers export services
to over 60 countries. Roadway is dedicated to being the most reliable,
responsive, efficient -- and safe -- carrier in the transportation industry. For
more information, please contact the company at www.roadway.com.
