US 1 Reports Fourth-Quarter Profit

Logistics firm US 1 Industries’ fourth-quarter net income improved to $300,000, or 2 cents a share, from a loss of $2.1 million, or 15 cents, a year earlier.

Revenue for the quarter increased 14.8% to $54.3 million, the company said late Thursday.

For the year, its net income was $1.8 million, or 12 cents per share, compared with a loss of $2.6 million, or 18 cents, in 2009. Revenue rose 17.3% to $211 million.

The logistics firm accepted a buyout offer in February from a company owned by two of its top executives.

US 1 provides financial resources, insurance and information technology to the trucking and logistics industries.