Contrans' First-Quarter Income Rises

Contrans Group said its first-quarter earnings improved to $3.3 million, or 11 cents a share, from $1.4 million, or 5 cents, in the 2009 quarter.

Revenue rose to $92.3 million, from $86.6 million, Contrans said in a statement. Excluding fuel surcharges, revenue rose to $83.1 million from $79.6 million.

“If you believe that the transportation industry is a leading indicator of both deterioration and recovery in the economy, you would sense my hesitation to say the economy is improving,” said Chief Executive Officer Stan Dunford.

“On a positive note, however, capacity is getting closer to being in line with demand [and] downward pricing pressures have eased,” Dunford said.

Contrans, Woodstock, Ontario, is ranked No. 55 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.