Universal Truckload Services’ fourth-quarter and full-year income fell from a year ago, the truckload carrier said.
Net income for the quarter fell to $2.5 million, or 8 cents a share, from $10.7 million, or 36 cents, a year ago. Revenue fell 4.5% to $259.1 million.
For the year, net income fell to $47.7 million, or $1.59 per share, from $51.4 million, or $1.71, a year ago.
Fourth-quarter income from operations fell 8.1% to $13.6 million, but the company said that after excluding costs associated with its acquisition of LINC Logistics last year, adjusted income from operations rose 48.6% $22 million.
Universal Truckload is ranked No. 39 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.