Full Texas Rangers service leaseresults were

Full gleans alex rodriguez service leaseresults walker texas rangers states were adversely impacted by the protracted length and severity ofthe current freight recession, which has resulted in reduced customerdemand for new leases and downsizing of customer fleets. Customers arealso driving significantly fewer miles with their existing fleets, whichlowers Ryder's variable revenue and fuel gallons sold. These items were partiallyoffset by cost reduction initiatives including workforce reductions.Commercial rental results were impacted by weak global demand which drovelower utilization and reduced pricing. Used vehicle sales results werealso impacted by weak demand which drove lower pricing, as well as higherinventory levels compared with the prior year period. Commercial rental revenue decreased 26%reflecting weak global market demand and lower pricing.The FMS business segment's NBT was $41.8 million in the second quarter of2009, down 64% compared with $115.8 million in the same period of 2008.NBT results were related primarily to a decline in global commercialrental results, lower used vehicle sales results, reduced full servicelease results, and higher pension expense. Full service lease revenue decreased 2% in the secondquarter of 2009 as unfavorable foreign exchange rate movements more thanoffset an increase of 1% in the North American market includingacquisitions.

Full service lease was negatively impacted by lower milesdriven by customers with their fleets, and customer fleet downsizing.Contract maintenance revenue increased 1% in the second quarter of 2009due primarily to new sales activity, partially offset by the impact ofunfavorable exchange rates baseball tickets . Fuel services revenue in the second quarter of 2009decreased 58% compared with the same period in 2008 due to lower fuelprices and reduced gallons pumped at Ryder's fuel service centers.Operating revenue (revenue excluding fuel) in the second quarter of 2009was $711.8 million, down 8% compared with $773.9 million in theyear-earlier period walker texas rangers . Ryder's commercial rental service offers customers a method toexpand their fleets in order to address short-term capacity needs.In the FMS business segment, total revenue in the second quarter of 2009was $890.5 million, down 26% compared with $1.20 billion in theyear-earlier period walker texas rangers . Second Quarter Business Segment Operating ResultsRyder's primary measurement of business segment financialperformance, Net Before Tax (NBT), allocates Central Support Services toeach business segment and excludes restructuring and other items.Fleet Management SolutionsRyder's Fleet Management Solutions (FMS) business segment combines severalcapabilities into a comprehensive package that provides one-stopoutsourcing of the acquisition, maintenance, management, and disposal ofvehicles walker texas rangers .

Free cash flowthrough June 30, 2009 was $241.3 million, compared with $88.6 million inthe same period 2008, primarily due to lower net cash paid forcapitalexpenditures michael young autograph . Comparable year-to-date net earnings and EPS excluderestructuring and other items in 2009 and second quarter 2008 charges inthe Company's SCS operations in Brazil to adjust accruals and taxdeferrals related to previous years.Operating cash flow for the first half of 2009 was $492.4 million, down 6%from $522.5 million in the comparable period of 2008 walker texas rangers . Comparable EPS were $0.67, compared with $2.17 in the year-earlierperiod walker texas rangers . Comparable year-to-date net earningswere $37.6 million, compared with $125.9 million in the first half of2008 walker texas rangers . Ryder's 2009 year-to-date net earningswere $29.7 million, compared with $119.0 million in the year-earlierperiod. EPS were $0.53 for the first six months of 2009 compared with$2.05 for the same period of 2008. Operating revenue(revenue excluding FMS fuel and all subcontracted transportation) for thefirst six months of 2009 was $2.04 billion, down 14% from $2.39 billionin the first six months of 2008.

This provides an additional tool to support workingcapital requirements, capital investments, and other business activities."Year-to-Date Operating ResultsRevenue for the six months ended June 30, 2009 was $2.45 billion,down 24% from $3.20 billion in the same period of 2008 texas rangers . In this tight credit market we successfully secured anew $875 million, three-year global revolving credit agreement, announcedearly in the quarter walker texas rangers . Overall,Ryder's financial position remains strong, despite very difficult marketconditions walker texas rangers . Our business model continued to deliver increased free cashflow in the quarter, and the Company maintains strong liquidity and accessto capital markets . Although it faced a range ofdifficulties, SCS returned to profitability during the quarter. In SCS, we were pleased that theunprecedented level of recent automotive bankruptcy filings resulted in nolosses from accounts receivable, and that our team has managed effectivelythrough the many challenges in this sector. While the downturn affected allbusiness segments, FMS was especially impacted in the areas of commercialrental and used vehicle sales.