Roadrunner Profit Increases 34% in Third Quarter
October 31, 2013
Asset-light transportation and logistics service provider, Roadrunner Transportation Systems, reports third quarter net income increased 34% over the prior year quarter to $13.2 million. Revenue for the period increased 30.1% to nearly $110 million from $83.1 million during the same time.
Excluding acquisition transaction expenses of $600,000 related to the third quarter acquisitions of Marisol International, TA Drayage, G.W. Palmer Logistics, and Yes Trans, third quarter diluted income per share available to common stockholders was $0.36.
“LTL revenues grew by $11.7 million, or 8.9%, from the prior year third quarter. Incremental revenues from our 2012 acquisition accounted for $3.1 million of the increase, with the remaining $8.6 million representing organic growth of 6.5,” said Mark DiBlasi, president and CEO of Roadrunner, said,
Truckload revenues grew by $45.9 million, or 36.9%, from the prior year third quarter. “Incremental revenues from our 2012 and 2013 acquisitions accounted for $32.3 million of the increase, with the remaining $13.6 million representing organic growth of 11% from our existing business,” said DiBlasi.
Further details about Roadrunner’s third quarter performance can be found on its website.