-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MqEYRKMtUiLdSmSHTMP+16N2rWDmerBw9vC2gLnsFG3D88TjS3RANEeUdDNk5RJF n68czVJCvMma0sSOgrGOBg== 0000793074-99-000018.txt : 19991125 0000793074-99-000018.hdr.sgml : 19991125 ACCESSION NUMBER: 0000793074-99-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991123 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991124 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WERNER ENTERPRISES INC CENTRAL INDEX KEY: 0000793074 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 470648386 STATE OF INCORPORATION: NE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-14690 FILM NUMBER: 99763305 BUSINESS ADDRESS: STREET 1: 14507 FRONTIER ROAD STREET 2: P O BOX 45308 CITY: OMAHA STATE: NE ZIP: 68145 BUSINESS PHONE: 4028956640 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 23, 1999 WERNER ENTERPRISES, INC. (Exact name of registrant as specified in its charter) NEBRASKA 0-14690 47-0648386 (State or other jurisdiction of (Commission File (IRS Employer incorporation or organization) Number) Identification No.) 14507 FRONTIER ROAD POST OFFICE BOX 45308 OMAHA, NEBRASKA 68145 (402)895-6640 (Address of principal (Zip Code) (Registrant's telephone number) executive offices) ITEM 5. OTHER EVENTS. On November 23, 1999, the registrant issued a news release announcing that higher fuel prices are affecting fourth quarter 1999 earnings. A copy of the news release is filed as an exhibit to this Form 8-K. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. Exhibit 99.1 News release issued by the registrant on November 23, 1999. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WERNER ENTERPRISES, INC. Date: November 23, 1999 By: /s/ John J. Steele John J. Steele Vice President, Treasurer and Chief Financial Officer Date: November 23, 1999 By: /s/ James L. Johnson James L. Johnson Corporate Secretary and Controller EX-99 2 Exhibit 99.1 WERNER ENTERPRISES, INC. 14507 Frontier Road P. O. Box 45308 Omaha, Nebraska 68145 FOR IMMEDIATE RELEASE Contact: Robert E. Synowicki, Jr. Executive Vice President and Chief Operating Officer (402) 894-3000 John J. Steele Vice President, Treasurer and Chief Financial Officer (402) 894-3000 WERNER ENTERPRISES ANNOUNCES HIGHER FUEL PRICES ARE AFFECTING FOURTH QUARTER EARNINGS Omaha, Nebraska, November 23, 1999: Werner Enterprises, Inc. (Werner), one of the nation's largest truckload transportation companies, announced today that higher fuel prices are affecting fourth quarter 1999 earnings. As recently reported in the Wall Street Journal, the price per barrel of oil has reached a nine-year high. If fuel prices and the Company's customer fuel surcharge reimbursements remain at current levels, it is estimated that fourth quarter 1999 earnings will be negatively impacted, due to higher fuel prices, by approximately 10 cents per share. The average fuel price per gallon (excluding fuel taxes) is currently over 80% higher than the comparable price on this same date one year ago. Furthermore, one year ago the average fuel price per gallon (excluding fuel taxes) decreased approximately 10% from the end of November 1998 until the beginning of March 1999. The Company has customer fuel surcharge programs in place to recover a portion of the higher fuel cost. However, a significant portion of the fuel expense increase is not being recovered at the current time. This is due to several factors, including: the base fuel price levels which determine when surcharges are collected, empty miles between freight shipments, out-of-route miles caused in part by driver home time needs, and truck idling. The Company has no derivative financial instruments to reduce its exposure to fuel price fluctuations. The Company is continuing to experience strong freight demand from its customers. Management continues to meet with its customers to explain the significant impact of higher fuel prices on the Company's business in an effort to increase the amount of fuel surcharge reimbursement from customers. Werner Enterprises is a full-service transportation company providing truckload and other transportation services throughout the 48 states, portions of Canada and Mexico. Werner is one of the nation's largest truckload carriers with a fleet of 7,075 trucks and 18,030 trailers as of September 30, 1999. Werner Enterprises' common stock is traded on The Nasdaq Stock Market under the symbol WERN. The Werner Enterprises web site address is www.werner.com. Note: This announcement contains forward-looking or predictive statements that are based on information currently available. Actual results may differ materially from those currently anticipated by company management. A number of factors and events not within the Company's control could have a material impact on future financial results, including, but not limited to those items discussed in Item 7 of the Company's Annual report on Form 10-K for the year ended December 31, 1998, which are hereby incorporated by reference. The Company assumes no responsibility to update the information included in this announcement. -----END PRIVACY-ENHANCED MESSAGE-----