Quality Reports 2Q Profit, Record Revenue

August 9, 2005 10:30 AM, EDT

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ank truck carrier Quality Distribution reported late Monday a second-quarter profit of $2.7 million or 14 cents a share, compared with a loss of $7.9 million or 42 cents last year.

The company’s revenue rose 8.6% to a record $171 million, Quality said in a statement.

uality is ranked No. 33 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

Chief Executive Officer Jerry Detter said in a statement that the revenue increase, the company’s 10th straight quarterly gain, was due to a “robust” pricing environment.

The company said it took $1.6 million in charges for recruiting and relocating Detter as its new CEO. He took over from former CEO Thomas Finkbiner in June.

(Click here for previous coverage.)