Stonepath Reports First-Quarter Loss

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ogistics firm Stonepath Group late Friday reported first-quarter loss of $3.5 million or 8 cents a share, compared with a loss of $7.6 million or 17 cents a year earlier.

Stonepath, which does business as Stonepath Logistics, called the loss “disappointing,” Dennis Pelino, the company’s chairman, said in a statement.

The domestic segment was hurt by “difficult conditions in the U.S. automobile industry,” the company said.

Revenue rose 2.4% to $92.2 million, the company said. International revenue rose 15.5% to $66.5 million, while net revenue fell 4.4% to $19.5 million.