Patriot Transportation Reports Improved 1Q Earnings

January 30, 2006 8:20 AM, EST

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atriot Transportation Holding reported Friday it earned $1.9 million or 62 cents a share for its first fiscal quarter ended Dec. 31, compared with $1.7 million or 56 cents a year earlier.

Transportation segment revenues were $30.3 million, up 10% from the same period a year earlier. Fuel surcharges accounted for almost $2 million of the increase, the company said.

Revenue miles in the current quarter were up 2.4% compared with the fourth quarter of 2004 and were constrained by low driver availability, Patriot said.

In late December, Patriot said it was revising previously reported earnings results for the fourth quarter and its full fiscal year, and financial statements for other prior earnings periods. (Click here for previous coverage.)

Patriot operates tank carrier Florida Rock & Tank Lines, flatbed hauler SunBelt Transport and a real estate business.