Segmentz Reports Third-Quarter Loss

egmentz Inc. Wednesday reported it lost $551,000 or 2 cents a share in the third quarter, compared with a $289,000 loss or 1 cent a year earlier.

The transportation and logistics management company said its revenue declined to $9.5 million from $14.4 million a year earlier.

Segmentz attributed the revenue drop to its sale of unprofitable, non-core assets and operating units.

“This new line of credit reflects our lender’s support of the company’s renewed focus on expedited transportation services,” Mike Welch, president and chief executive officer, said in a statement.