Roadrunner Reports 3Q Profit

Roadrunner Transportation Systems, which went public in May, said its net income rose to $4.4 million, or 14 cents per share, compared with $100,000, or 1 cent, a year ago.

Revenue rose 31.3% to $163.7 million, and operating income rose to $7.9 million from $4.2 million, Roadrunner said.

RRTS has three operating segments: less-than-truckload, truckload brokerage and transportation management solutions.

LTL operating income rose to $5.2 million, from $3.2 million a year ago. LTL revenue rose 28.1% to $107.2 million, reflecting quarter-over-quarter tonnage growth of 19.2%.

Truckload operating income was $1.6 million, up from 1.3 million a year ago, while segment revenue rose 18.6% to $39.1 million.

TMS operating income rose to $1.8 million, from $500,000 a year ago. Segment revenue rose to $18 million, from $8.6 million.

Roadrunner, which trades as RRTS on the New York Stock Exchange, bought third-party logistics provider Group Transportation Services Holdings in May when it went public.

In its first public statement in August, the company reported a loss but showed pro-forma operating income of $9.5 million. (Click here for previous coverage.)