Patriot Transportation's Fourth-Quarter Income Improves

Click here to write a Letter to the Editor.

atriot Transportation Holding said Wednesday it earned $2.2 million or 71 cents a share for its fourth fiscal quarter ended Sept. 30, compared with $1.5 million or 50 cents a year earlier.

Transportation segment revenues were $29.7 million, up from $25.8 million in the same period last year. Fuel surcharges accounted for $1.9 million of the increase and, excluding fuel surcharges, revenue per mile increased 5.7%, reflecting better pricing, the company said.

Revenue miles in the current quarter were up 2.4% compared with the fourth quarter of 2004 and were constrained by low driver availability, Patriot said.

For its fiscal year, the company earned $7.5 million or $2.54 a share, down from $20.7 million or $7.08 a year earlier. Last year’s earnings included a $14 million or $5 a share windfall from discontinued operations.

Patriot operates tank carrier Florida Rock & Tank Lines, flatbed hauler SunBelt Transport and a real estate business.