Going Public

New Century Transport to raise up to $120M in IPO

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Trucking company New Century Transportation Inc. hopes to raise up to $120 million in an initial public offering of its common stock.

The number of shares to be offered and the price range for the offering have not yet been determined.

The company said in a regulatory filing late Wednesday that it plans to use the proceeds to pay off bebt.
New Century expects to trade on the Nasdaq Global Market under the symbol "NCTX."

The company moves freight throughout the continental United States and parts of Canada, but its main focus is moving less-than-truckload shipments originating in and out of the Northeast. Its biggest shipments are industrial goods and food, but it also ships chemicals, consumer and retail stock and pharmaceutical supplies.

Less-than-truckload, or LTL, shipments are consolidated into one truck from several shippers.

For the full-year 2009, the company lost $5.1 million compared with a 2008 loss of $1.2 million. The last time it posted a net profit was 2005.

Revenue fell to $203.1 million from $229 million in 2008
Maybe this time they'll get it right. The last experiment only ended up costing a couple thousand jobs. Mine included.
How can this continue in loses? 5 years plus of losses? I know YRCW is no bed of roses in losses,but for such a small operation,maybe it is time to pull the plug,and cut your losses?
I would be more then happy to show them the finer points of peddling freight, O wait a minute that take's some common sence!!!!!
Hey I remember when I got a Fedex envelope from that other outfit with those blue trucks. They wouldn't do that again.... Would they?
One good thing you guys got going for you now..... don't think yrc is in a position to take on new companies at this point. They will leave it for another company to gobble you up.... do I hear SUN CAP????????
Well do you really think they would let you get on the exchange if you are not showing a profit look at what he had bought in the past 5 years western freightways p&p trucks up till 3 years ago that is all part of the 120 million i dont condone what they are doing and how they are treating the drivers on thing we are the back bone to this company and until they see that i can see more and more drivers picking up and leaving the word is out on the street about New Century!!!!!!!
When Harry went public share's initially came out at 15 dollars or somewere in that area, He sold the company to yellow freight who then bought the shares back for around 7-8 dollars a share.
The share did go as low as 5 dollars if I remeber correctly. Yellow eventually spun us off with saia freight, we then became SCS transportation wich lasted a few years untill we were sold to Sun Capital, two years later in 08 we folded.