February 9, 2006 9:30 AM, EST

Vitran Reports Record 4Q, Annual Income

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oronto-based transportation and logistics firm Vitran Corp. said Thursday its profit rose to a fourth-quarter record $5 million or 39 cents a share, up from $4.4 million or 34 cents a year earlier.

Vitran’s revenue rose to $113 million, from $96.5 million the previous year.

For the year, Vitran also recorded record results, earning $17.9 million or $1.40 a share, from $14.9 million or $1.17 a year earlier. That was within the company’s earnings guidance of $1.35 to $1.47 per share.

Revenue for the full year rose to $428.2 million, from $374.6 million.

Vitran has truckload and less-than-truckload operations in the United States and Canada.

In January, Vitran announced it completed a $2.25 million purchase of Sierra West Express, a regional less-than-truckload carrier based in Nevada. (Click here for previous coverage.)

Income from LTL operations rose 66% in the quarter to $6.9 million, led by a 29% increase at its U.S. operations, and 6% gain in its Canadian operations.

ts logistics segment recorded a 16% rise in income from operations in the fourth quarter to $609,000, while its truckload segement's income from operations fell to $408,000 from $468,000 a year earlier.

Vitran is ranked No. 58 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.