Patriot Transportation Earnings Fall
February 04, 2014
The parent to liquid and dry bulk carrier Florida Rock and Tank lines reports earnings in the final three months of last year fell 25% from a year earlier, despite an increase in revenue.
Florida-based Patriot Transportation Holding net income of $2.34 million or $.24 per share compares $3.12 million or $.33 per share in the same period last year.
Total revenues during the period were $38.8 million, a 17.4% gain over the same quarter last year.
Transportation segment revenues were $31.59 million in the first quarter of 2014, an increase of $4.95 million over the same quarter last year.
In the company’s other interests, mining royalty land segment revenues were $1.27 million, a decrease of 4.7% over the same quarter a year ago while developed property rentals segment revenues were $5.96 million, an increase of 17.2%.
Consolidated operating profit was $4.12 million, a drop of 6.4% compared to a year earlier.
More information is on the Patriot Transportation website.