AutoInfo Profit Drops in 2009

Logistics provider AutoInfo Inc. said it earned $1.4 million, or 4 cents per share, in 2009, compared with $2.2 million, or 7 cents, the previous year.

Gross revenue for the quarter rose to $183.9 million, up from $180.2 million in 2008, the company said in a statement Tuesday.

AutoInfo, which operates through its subsidiary Sunteck Transport Group, attributed the decline in profit to the economic downturn.

Given an increase in shipping volume during the fourth quarter of 2009 and beginning of 2010, the company is “cautiously optimistic” about 2010 results, said President Harry Wachtel.