Quality Distribution's Earnings, Revenue Rise

May 11, 2005 8:00 AM, EDT

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ank truck carrier Quality Distribution Inc. reported first-quarter net earnings of $2.9 million or 15 cents per share, on record revenue of $161.1 million.

hat compared with a $1 million or 5 cents per share on revenue of $151.2 million. The company said in a statement the higher revenue was mainly due to strong demand from existing customers and rate increases.

owever, it said profits were hurt by more than $3 million because of fees related to taxes, legal costs and interest expenses.

he company had reported a fourth-quarter loss of $6.6 million or 35 cents.

uality Distribution is ranked No. 31 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.