Meanwhile, Zollars said the company likely will enact a reverse stock split within the next 60 days.
Last week, YRC announced that it had received a delisting notice from the Nasdaq Stock Market because its shares traded below $1 for more than 30 days, and that it had 180 days to get back in compliance. At the time, YRC said it planned to execute a reverse stock split during the second quarter.
Zollars said Tuesday that YRC shares "will get into kind of a single-digit- dollar range" when the reverse split takes place.
-By Bob Sechler; Dow Jones Newswires; 512-394-0285; firstname.lastname@example.org