US logistics group YRC Worldwide stayed in the red last year, but improved on 2008 and has entered 2010 on "a solid financial base".
For the full-year, YRC made an operating loss of US$899m compared with a $1.4bn loss in 2008.
The company made a fourth-quarter operating loss of $95m, compared with a $335m loss in 2008.
Its 4Q national transportation shipments per day were down 39.9% year-on-year, and regional shipments per day were down 19.9%.
Bill Zollars, chairman and CEO of YRC Worldwide, said: "With our significantly improved balance sheet and additional liquidity resulting from our debt-for-equity exchange, we entered 2010 on a more solid financial base with good momentum."
"Our improved performance, measured year-on-year and from a lower revenue base, is now becoming apparent in our operating results, and we expect favourable year-on-year comparisons will accelerate during 2010."
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