Werner Enterprises Inc. (WERN) filed Quarterly Report for the period ended 2009-09-30.
Werner Enterprises Inc. is a transportation company primarily engaged inhauling truckload shipments of general commodities in both interstate andintrastate commerce. The Company operates throughout the 48 contiguous states pursuant to operating authority both common and contract granted by the Department of Transportation and pursuant to intrastate authority granted by various states. They also have authority to operate in the ten provinces of Canada and have through trailer service in and out of Mexico. Werner Enterprises Inc. has a market cap of $1.35 billion; its shares were traded at around $18.75 with a P/E ratio of 23.44 and P/S ratio of 0.62. The dividend yield of Werner Enterprises Inc. stocks is 1.07%. Werner Enterprises Inc. had an annual average earning growth of 8.8% over the past 10 years. GuruFocus rated Werner Enterprises Inc. the business predictability rank of 5-star.
Highlight of Business Operations:
Effect of foreign exchange rate fluctuations oncash (30) 418
Net increase in cash and cash equivalents 57,126 111,225
Cash and cash equivalents, beginning of period 48,624 25,090
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Cash and cash equivalents, end of period $ 105,750 $ 136,315
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Supplemental disclosures of cash flow
information:
Cash paid during the period for:
Interest $ 137 $ 9
Income taxes $ 24,508 $ 30,034
Supplemental schedule of non-cash investing
activities:
Notes receivable issued upon sale of revenue
equipment $ 1,573 $ 2,194
Three Months Ended Nine Months Ended
September 30, September 30,
- -
2009 2008 2009 2008
- -
Net income $ 18,992 $ 22,446 $ 38,580 $ 48,933
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Weighted-average common
shares outstanding 71,701 70,864 71,619 70,574
Dilutive effect of stock-
based awards 409 961 408 1,001
- -
Shares used in computing
diluted earnings per share 72,110 71,825 72,027 71,575
= =
Basic earnings per share $ 0.26 $ 0.32 $ 0.54 $ 0.69
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Diluted earnings per share $ 0.26 $ 0.31 $ 0.54 $ 0.68
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Weighted
Average Aggregate
Number Weighted Remaining Intrinsic
of Options Average Contractual Value
(in Exercise Term (in
thousands) Price ($) (Years) thousands)
-
Outstanding at beginning of period 2,264 $ 13.74
Options granted - $ -
Options exercised (180) $ 7.97
Options forfeited (13) $ 17.97
Options expired - $ -
-
Outstanding at end of period 2,071 $ 14.21 4.14 $ 9,186
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Exercisable at end of period 1,512 $ 13.08 3.12 $ 8,410
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Number of Restricted Shares Weighted Average Grant Date
(in thousands) Fair Value ($) (per share)
-
Nonvested at beginning of period 35 $ 22.88
Shares granted - $ -
Shares vested - $ -
Shares forfeited - $ -
-
Nonvested at end of period 35 $ 22.88
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Revenues
-
Three Months Ended Nine Months Ended
September 30, September 30,
- -
2009 2008 2009 2008
- -
Truckload Transportation Services $ 369,610 $ 505,489 $ 1,063,047 $ 1,456,872
Value Added Services 57,685 73,586 155,627 203,401
Other 930 4,218 5,760 12,177
Corporate 1,048 764 2,398 2,575
- -
Total $ 429,273 $ 584,057 $ 1,226,832 $ 1,675,025
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Operating Income
-
Three Months Ended Nine Months Ended
September 30, September 30,
- -
2009 2008 2009 2008
- -
Truckload Transportation Services $ 30,299 $ 33,113 $ 58,006 $ 68,126
Value Added Services 3,805 4,319 8,329 11,670
Other (1,325) 333 (1,073) 2,315
Corporate 26 257 809 197
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Total $ 32,805 $ 38,022 $ 66,071 $ 82,308
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WERN is in the portfolios of Kenneth Fisher of Fisher Asset Management, LLC, Kenneth Fisher of Fisher Asset Management, LLC.
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