Universal Truckload Sees Continued Growth in Earnings, Revenue

July 29, 2010

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Universal Truckload Services' balance sheet continued to see signs of a recovery, with net income increasing by $3.3 million to $4.6 million for the 13-week period ending July 3.
This compares with net income of $1.3 million for the same period of 2009.

Revenues for the carrier were up 28.7 percent to $154.3 million, from $119.9 million for the 2009 period.

Truckload revenue grew 29.3 percent to $97.1 million from $75.1 million in the corresponding period of 2009. This includes $12.7 million of revenue from acquisitions.

Universal's brokerage revenue was $34.8 million, 33.1 percent higher than the 2009 period.

Intermodal revenue was up 20.2 percent to $22.5 million from $18.7 million in 2009.

"Our second quarter has been a continuation of trends seen earlier in the year," said Don Cochran, Universal's president and CEO. "Load counts, rates and margins are showing signs of recovery in the truckload, brokerage and intermodal segments of the business. We are encouraged with the economic climate and our results in the second quarter and we are cautiously optimistic that these trends will continue for the second half of 2010."

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