Chassis provider TRAC Intermodal reported 2015 net income of $26.7 million, reversing a year-earlier loss of $3 million as revenue improved 10%.
The company’s revenue rose to $691.4 million from $627.0 million. The 2014 results were hurt by a $37.8 million charge for early retirement of equipment, according to a statement.
TRAC also announced it has completed the acquisition of Interstar Fleet Services, which provides emergency road services for trucking companies, to add to its product line.
The new business, known as TRAC Interstar LLC, is intended “to provide the quickest response time and most comprehensive repair service available to minimize driver roadside downtime,” said the statement from TRAC, which is based in Princeton, New Jersey.
TRAC said it would offer “one of the largest nationwide vendor networks in North America” will provide breakdown services for chassis, trucks and trailers through a call center near Cincinnati.
“TRAC is committed to providing high-quality equipment and superior service to all our customers. Having a national emergency road service operation will enable us to quickly respond to emergency situations and get our driver customers and their equipment back on the road,” a statement from TRAC CEO Keith Lovetro said. “The people, systems and network provide an effective solution for us to help our customers.”
TRAC didn’t disclose any details about the purchase of Interstar, which is based in Florence, Kentucky.