Shipping company YRC Worldwide (YRCW) swung to a fourth-quarter profit after the company posted a $194 million note-exchange gain.
The company posted a pretax profit of $49.8 million, compared with a year-earlier pretax loss of $353.3 million. The current results included the note exchange, while the year-earlier period included a $200 million writedown.
Revenue dropped 41% to $1.15 billion. Analysts had expected revenue of $1.22 billion.
Shares of the trucking company were flat in Friday trading.