Express-1’s Third-Quarter Profit Rises on Higher Revenue

November 2, 2006 9:00 AM, EST

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xpress-1 Expedited Solutions on Thursday reported it earned $905,000 or 3 cents a share in the third quarter, compared with a loss of $551,000 or 2 cents a year ago.

Revenue rose to $10.9 million from $9.5 million in 2005, the company said in a statement.

Operating ratio improved by 13.6% to 91.3% for the third quarter, down from 105.6% in 2005.

In June, Express-1 changed its name from Segmentz Inc., and its trading symbol on the American Stock Exchange to XPO. (Click here for previous coverage.)

The company also reiterated its full-year earnings guidance of $39 million to $42 million, or 10 to 12 cents a share.