Patriot Transportation’s 4Q Income Slips

Patriot Transportation Holding said its fourth-quarter profit fell from a year ago but its transportation revenue rose slightly.

Net income for the quarter ended Sept. 30 was $1.4 million, or 13 cents a share, down from $1.8 million, or 18 cents, a year earlier.

Revenue rose 4.8% to $32.8 million, while transportation segment revenue rose almost $700,000 to $26.3 million. Its transportation segment’s operating profit rose 22.8%.

For its full fiscal year, Patriot’s profit declined to $7.8 million, or 81 cents per share, from $12.2 million, or 74 cents, a year earlier.

Full-year revenue rose 6.2% to $127.5 million. Transportation revenue rose 5.8% to $103.5 million. Transportation segment operating profit fell 6.9% for the year.

Patriot operates tank carrier Florida Rock & Tank Lines and a real estate business.