Quality Distribution’s 1Q Loss Narrows
Tank truck carrier Quality Distribution reported a first-quarter loss of $300,000, or 2 cents a share, compared with a loss of $1.9 million, or 10 cents, a year ago.
Transportation revenue excluding fuel surcharges fell 21.7% to $111 million, the company said late Wednesday.
The company has reduced its debt since the previous quarter and remains cautious due to volume softness, is “encouraged by the results of our many cost initiatives implemented in 2008 and continuing into this year,” Chief Executive Officer Gary Enzor said in a statement.
Quality Distribution is ranked No. 35 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
