Vitran Posts Third-Quarter Loss

Vitran Corp. on Monday reported a third-quarter loss, compared with a profit a year ago.

The Toronto-based carrier lost $3.4 million, or 21 cents per share, compared with a profit of $2 million, or 12 cents, a year ago. Revenue rose 18.4% to $206 million.

Vitran’s less-than-truckload unit reported an operating loss of $2.9 million, compared with operating income of $3 million a year ago. Revenue rose 17.1% to $176 million.

LTL shipments and tonnage improved 8.3% and 9.2%, respectively, Vitran said.

The company said its LTL operating results were negatively impacted by a $1.5 million increase in expenses from U.S. healthcare and workers compensation from a year ago.

“The LTL segment is much the same as the second quarter of 2011, with strong results in Canada and weaker results in the U.S. operations,” CEO Rick Gaetz said in a statement.

The supply chain segment’s operating income rose to a record $2.9 million, from $2 million a year ago.

Vitran is ranked No. 34 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.