AutoInfo Profit Jumps in 2008

Logistics provider AutoInfo Inc. said it earned $2.2 million, or 7 cents per share, in 2008, compared with a profit of $1.6 million, or 5 cents, the previous year.

Gross revenue for the quarter rose to $180.2 million, up from $110.3 million in 2007, the company said in a statement Tuesday.

AutoInfo, which operates through its subsidiary Sunteck Transport Group, attributed the growth to the addition of new agent offices, among other factors.

But the company warned that it saw a decline in revenues during the fourth quarter of 2008, and that the decline has continued into the first quater of 2009.