Wheels Group’s 3Q Revenue Rises

Canadian logistics company Wheels Group Inc.’s third-quarter revenue rose on acquisitions, the company said.

Revenue rose to $73.6 million, from $66 million, the Toronto-based company said.

Wheels Group completed the acquisition of freight broker and forwarder MSM Group of Companies on Oct. 1, for $18.6 million.

Income for the quarter was a loss of $300,000, or zero cents a share, from a loss of $500,000, or a loss of $675.29 a share, a year earlier.

Weaker U.S. volume in the third quarter was to blame for results below expectations, Wheels Group said.