Allied Holdings Reports $10 Mln. First-Quarter Loss

May 24, 2005 9:00 AM, EDT

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uto hauler Allied Holdings Inc. reported a net first-quarter loss of $10.1 million or $1.13 per share, compared with a loss of $9 million or $1.03 last year.

Allied said the higher loss was due to higher pension costs, workers’ compensation increases and interest expenses.

The company’s revenue rose 4.1% to $221 million for the quarter, Allied said in a statement Tuesday. The gain reflected higher revenue per delivered vehicle, which was partially offset by a 2.7% decline in the volume of vehicles delivered.

Its stockholders’ equity dropped to negative $51.9 million for the quarter from negative $41.5 million at the end of 2004, the company’s financial statement showed.

Allied is ranked No. 22 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.