M.S. Carriers Income Rises 21% In 1999
January 29, 2000
M.S. Carriers, Memphis, TN, reported an increase in revenue and income in the fourth quarter and 12 months ended Dec. 31, 1999. Revenues for the fourth quarter were $163.3 million, up 16% from $140.5 million in the same period in 1998.
Fourth quarter operating income was $15.3 million, up from $12.6 million, while net income was $7.9 million, up from 6.8 million in the fourth quarter of 1998.
Revenue for 1999 was $620.4 million, up from $528.8 million in 1998. Operating income was up 21% to $56.8 million in 1999, while net income was $30.4 million, up 21% from $25.3 million in 1998.
Mike Starnes, chairman and ceo, attributes the increases to the company’s excellent service and the transportation solutions it has provided to its customers throughout the year. “Our success in the year 2000 will depend on continuing to attract, train and retain the highest quality drivers and continuing to apply technology to provide value-added transportation solutions to our customers,” he said.