Quality Reports Second-Quarter Profit
Tank truck carrier Quality Distribution said its second-quarter net income was $400,000, or 2 cents a share, down from a profit of $2.3 million, or 12 cents, a year ago.
Revenue rose 15% to $224 million, the company said late Thursday.
Excluding fuel surcharge and the revenue from its Boasso America subsidiary, revenue fell 6.3% to $10.8 million, driven by softer volumes in the housing and auto markets, as well as general economic conditions, the company said.
In May, the company named Thomas White its new chairman.
Quality Distribution is ranked No. 35 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
