Alabama-based Boyd Bros. Transportation Inc. reported higher revenue for the first quarter ended March 31, 2003.
The company said it returned to profitability in the quarter versus the same period in 2002, continuing the general pattern of improvement in company operations seen throughout the past year.
Operating revenues increased 6% to $32,577,476 for the quarter ended March 31, 2003, including $991,564 in fuel surcharges, from $30,620,318 in the same period last year, which included $27,349 in fuel surcharges.
Boyd Bros.' pre-tax income for the first quarter of 2003 was $6,850, marking a reversal of the pre-tax loss of $450,470 reported in the same period last year, while net income for the first quarter of 2003 was $4,185, essentially break even on a per share basis, compared with a net loss of $288,097 or $0.11 per share in the year-earlier quarter.
Gail B. Cooper, president and chief executive officer, said, "While difficult operating conditions continued in the first quarter, made worse by inclement weather in February in many of the areas we serve and skyrocketing fuel costs due to growing anxieties about war in Iraq, Boyd Bros. continued to show steady improvements in its performance. These improvements were highlighted by a notable turnaround in our profitability compared with the first quarter last year. In fact, this was the fourth consecutive quarter in which we have posted higher operating revenues and an improved bottom line compared with year-earlier quarters."
Boyd Bros. is one of the largest flatbed trucking companies in the United States. The company provides transportation services to high-volume, time-sensitive customers, primarily in the steel and building materials industries. For more information, visit www.boydbros.com.
The company said it returned to profitability in the quarter versus the same period in 2002, continuing the general pattern of improvement in company operations seen throughout the past year.
Operating revenues increased 6% to $32,577,476 for the quarter ended March 31, 2003, including $991,564 in fuel surcharges, from $30,620,318 in the same period last year, which included $27,349 in fuel surcharges.
Boyd Bros.' pre-tax income for the first quarter of 2003 was $6,850, marking a reversal of the pre-tax loss of $450,470 reported in the same period last year, while net income for the first quarter of 2003 was $4,185, essentially break even on a per share basis, compared with a net loss of $288,097 or $0.11 per share in the year-earlier quarter.
Gail B. Cooper, president and chief executive officer, said, "While difficult operating conditions continued in the first quarter, made worse by inclement weather in February in many of the areas we serve and skyrocketing fuel costs due to growing anxieties about war in Iraq, Boyd Bros. continued to show steady improvements in its performance. These improvements were highlighted by a notable turnaround in our profitability compared with the first quarter last year. In fact, this was the fourth consecutive quarter in which we have posted higher operating revenues and an improved bottom line compared with year-earlier quarters."
Boyd Bros. is one of the largest flatbed trucking companies in the United States. The company provides transportation services to high-volume, time-sensitive customers, primarily in the steel and building materials industries. For more information, visit www.boydbros.com.
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