UPDATE 1-Con-way profit falls, cites gain in previous year

(Adds details of profit, outlook for 2008)

CHICAGO, Jan 28 (Reuters) - Trucking and logistics company Con-way Inc (CNW.N) on Monday reported a lower quarterly net profit, citing a pretax charge, plus a large gain the previous year from the sale of a joint venture.

The San Mateo, California-based company reported fourth-quarter net income of $36.3 million or 73 cents a share, compared with $84.2 million or $1.66 a share a year earlier.

Con-way said the fourth quarter was affected by a pretax charge of 10 cents a share related to business transformation initiatives, while the same quarter of 2006 was boosted by a net gain of 82 cents a share from the sale of Vector SCM, its former joint venture with General Motors Corp (GM.N).

Revenue for the quarter rose to $1.2 billion from $1 billion a year earlier. Analysts had expected revenue for the quarter of $1.15 billion.

Con-way said it expects full-year 2008 earnings per share from continuing operations in a range from $3.40 to $3.80. Analysts have forecast EPS for the full year of $3.75. (Reporting by Nick Carey, editing by Carol Bishopric, Phil Berlowitz)