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Updated:
7/22/2010 10:45:00 AM
Vitran’s Second-Quarter Income Improves
Vitran Corp.’s second-quarter net income jumped to $1.7 million, 11 cents per share, up from $400,000, or 3 cents, a year ago.
Revenue rose to $179 million, from $158.7 million a year ago, the company said Thursday.
As with its previous quarter’s profit, the majority of the increases in revenue and profitability were driven by significant improvements in its less-than-truckload segment, Vitran said.
Toronto-based Vitran — which has truckload, LTL and logistics operations in the United States and Canada — posted LTL segment income from operations of $3.9 million, compared with $1.2 million a year ago. Revenue rose to $148.8 million, from $131.7 million.
The supply chain logistics segment’s operating income held at $1.4 million from a year ago, while revenue rose $20.9 million, from $18.6 million.
Truckload operating income slipped to $184,000 from $256,000, while revenue rose to $9.3 million, from $8.4 million.
Vitran is ranked No. 35 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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