Transport Corporation of America Inc., a Minneapolis-St. Paul area truckload freight carrier, reported first-quarter revenues of $67.1 million,
compared with $66.0 million for the same quarter last year, an increase of 1.7%.
First quarter's net loss was $454,000 or $0.06 per diluted share, compared with a 2002 first-quarter net loss of $19.5 million, or $2.70 per share.
Michael Paxton, chairman, president and chief executive officer, said, "Our commitment to improve asset utilization continues to pay off as demonstrated by reduced deadhead and increased miles per tractor. During the first quarter, deadhead miles decreased from 12.7% in 2002 to 10.0% in 2003. Miles per tractor increased during the first quarter of 2003 by 3.1% over 2002, and revenue per tractor per week improved by 3.6%."
"Bad weather and high fuel costs aside, we continue to take the steps necessary to make Transport America more competitive and profitable," Paxton said.
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