Consolidated Freightways Inc.: The transportation company reported...
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Consolidated Freightways Inc.: The transportation company reported a fourth-quarter net loss of $5.1 million, compared to a loss of $35.5 million in the same period in 1989. Revenue totaled $1.1 billion, up 10%. For the full year, losses totaled $40.7 million, contrasted with a profit of $12 million in 1989. Revenue rose 12% to $4.2 billion. The 1989 results included a gain of $11.3 million because of an accounting change. The Menlo Park, Calif., firm blamed the poor results on the deepening recession and volatile fuel prices.
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