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Quality Distribution’s 4Q Income Flat; Full-Year Improves
Tank truck carrier Quality Distribution’s fourth-quarter profit was $6.2 million or 31 cents a share, compared with $6.2 million or 32 cents for the previous fourth quarter.
Revenue for the period dipped 2.4% to $171.1 million, the company said late Monday.For the full year, Quality earned $54.2 million or $2.77 a share, up from $11.9 million or 62 cents in 2005. Revenue rose 7.7% to $730.2 million.Quality late last month reduced its fourth-quarter guidance to 3 to 7 cents per share, from 17 to 19 cents, and its full-year EPS guidance to 59 to 63 cents, down from 74 to 76 cents. (Click here for previous coverage.)It said at the time it was making the adjustments “primarily due to softer than anticipated seasonal demand and an unexpected charge for costs associated with legacy environmental remediation projects.”Quality Distribution is ranked No. 34 on the Transport Topics 100 list of U.S. and Canadian for-hire carriers.
