Patriot Transportation Holding Sees Income Jump Nearly 12%
August 07, 2013
Patriot Transportation Holding, the parent of the liquid and dry bulk carrier, Florida Rock and Tank Lines, has reported net income of $3 million in the third quarter of its fiscal 2013, an increase of $318,000, or 11.8%, compared to the same period last year.
During the same time, consolidated revenues were $35,708,000, an increase of $2,678,000, or 8.1%, over the same quarter last year.
Transportation segment revenues were $28.8 million in the third quarter of 2013, an increase of $1.9 million over the same quarter last year. Revenue miles in the current quarter were up 6.6% compared to the third quarter of fiscal 2012 due to business growth and a longer average haul length.
Revenue per mile increased 0.7% over the same quarter last year due to rate increases partially offset by lower fuel surcharges and a longer average haul length while surcharge revenue decreased $108,000 due to the lower cost of fuel.
Patriot Transportation Holding also has business interests in mining royalties and real estate.
More information about the company’s performance is available online.