Mullen’s Income, Revenue Jump for 4Q, Year

February 24, 2006 12:00 PM, EST

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anadian firm Mullen Group Income Fund said late Thursday it earned $21.4 million or 45 cents per unit in the fourth quarter, up from $10 million or 22 cents a year earlier.

Mullen generated $139.6 million in revenue, up 34% from a year earlier.

The revenue increase was due largely to its trucking segment revenue, which rose by $26.6 million. Alberta-based Mullen also has oilfield and gas exploration operations.

The company attributed improvements to its acquisitions last year. Earlier this month, the firm’s board approved a merger with an oilfield services firm, Producers Oilfield Services. (Click here for previous coverage.)

For the full year, Mullen earned $60.8 million or $1.31 per unit, up from the previous year’s $40.3 million or 89 cents per unit. Revenue rose to $513.5 million from $408.7 million in 2004.

Mullen is ranked No. 63 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.