Clarke Posts 3Q Loss; Freight Unit Improves

Canadian holding company Clarke Inc. reported a third-quarter loss but its freight transportation unit’s performance improved.

Its net loss was C$16.3 million, or 81 cents a share, compared with net income of C$8.9 million, or 43 cents, a year ago.

Its freight unit’s earnings before interest taxes depreciation and amortization rose to $6.5 million, up from $5.2 million a year ago.

Total revenue slipped to C$41.6 million from C$57.6 million. Freight revenue improved, the company said.

Ontario-based Clarke, which operates in truckload and less-than-truckload sectors via its Clarke Transport unit, also has a home heating segment.