Roadrunner Transportation Systems (RRTS) (NYSE:RRTS) is a transportation and logistics service provider to be a transportation brokerage. The company uses proprietary web-enabled technology along with third-party network. The company's customers have some national accounts, but it primarily focuses on the small-to-medium sized shippers. Most of the shipments are less-than-truckload shipments.
According to the American Trucking Associations, or the ATA, the over-the-road freighters had a decline due to the weakening demand for freight from manufacturers, construction companies, and retail. From 2008-2009, the US total over-the-road freight declined 23.2%, but the company only declined by 4.6%. This is the result of the company being able to acquire new customers and reducing costs.
The company's initial public offering of stock filed on the NYSE exchange and went public on 12 May 2010. The shares were priced at $14, the low end of the initial price range of $14.00-$16.00. The company raised $146 million by offering 10.6 million shares.
For FY2009 with year ended 31 December 2009, the company reported $450.3 million in revenue, down 16.2% from $537.4 million in revenue for FY2008. Furthermore, the company had a net income of $167,000, an increase from a net loss of $3.8 million.