Universal Truckload Services’ first-quarter income fell from a year ago on a change in tax status, the truckload carrier said.
Net income for the quarter fell to $11.4 million, or 38 cents a share, from $14.4 million, or 48 cents, a year ago. Revenue fell to $167 million from $185 million.
First-quarter income from operations increased 10.7% to $19.3 million.
Earnings per share and income fell due to an increase in Universal’s tax rate from the acquisition of Linc Logistics last year, the company said.
Universal Truckload is ranked No. 39 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.