Mullen’s 4Q Income Declines; Full-Year Results Improve
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Canadian transportation firm Mullen Group Income Fund reported its fourth-quarter profit fell to C$14 million or 17 cents per share, from C$24.7 million or 52 cents a year earlier.
The decrease in income was due to depreciation and amortization expenses, and currency exchange rates due to borrowing U.S. funds.Revenue for the quarter rose to C$284 million from C$160.7 million, Mullen said late Tuesday.For the year, the company earned C$128.1 million or C$1.86 per share, up from $70 million or C$1.51 per share. Revenue jumped to C$1 billion from C$591.7 billion in 2005.Mullen is ranked No. 95 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.
Canadian transportation firm Mullen Group Income Fund reported its fourth-quarter profit fell to C$14 million or 17 cents per share, from C$24.7 million or 52 cents a year earlier.
The decrease in income was due to depreciation and amortization expenses, and currency exchange rates due to borrowing U.S. funds.Revenue for the quarter rose to C$284 million from C$160.7 million, Mullen said late Tuesday.For the year, the company earned C$128.1 million or C$1.86 per share, up from $70 million or C$1.51 per share. Revenue jumped to C$1 billion from C$591.7 billion in 2005.Mullen is ranked No. 95 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.
