Flatbed Carrier Smithway's 3Q Earnings Rise
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He said the company’s independent contractor fleet has grown by 10% over the past 12 months.
latbed carrier Smithway Motor Xpress Corp. reported late Tuesday that its third-quarter net income jumped 91% to $1.6 million or 32 cents a share, from $854,000 or 17 cents a year earlier.
Operating revenue rose about 17.8% to $57.3 million, Smithway said in a statement.
“Demand for building products and heavy equipment in the devastated hurricane areas is producing increasing demand for our flatbed business,” Smithway President Larry Owens said, though costs are also increasing.
Smithway is ranked No. 96 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.
