Stonepath Takes Third-Quarter Loss; Revenue Gains

Click here to write a Letter to the Editor.

ogistics firm Stonepath Group on Wednesday reported a third-quarter loss of $180,000 or zero cents a share, compared with net income of $55,000 or zero cents a year earlier.

Stonepath, which does business as Stonepath Logistics, said the loss was the result of costs associated with the refinancing and the effect of a strike at an airline carrier that serves the company in China.

evenue rose to a record $111.3 million, from $109.7 million over the same quarter last year.

Net revenue was $23.3 million, down $1.7 million over the prior third quarter, a result of the Asian airline strike and of declining domestic revenue, which dropped 21.7% to $29.7 million.