U.S. Trucking Reports Healthy Fourth Quarter, 1999
May 30, 2000
U.S. Trucking, Charlotte, N.C., recently reported results for the fourth quarter and year ended December 31, 1999, as well as for the first quarter 2000 ended March 31.
New income for the quarter ending December 31 increased 140 percent to $14.9 million, up from $6.2 million a year earlier. For the year ended December 31, revenues rose 103 percent to $44.7 million, up from $22 million the previous year. Net income for 1999 totaled $106,758 compared with $121,767 for 1998.
For the first quarter ended March 31, 2000, revenues rose 136 percent to $18 million from $7.6 million a year earlier. Net income for the 2000 quarter totaled $37,432, compared with $119,946 in the year-ago period.
President and CEO Dan Pixler attributed the rise in revenues to several acquisitions, including Prostar Inc., Fulmer Trucking and Checkmate/Maverick Truck Brokerage, as well as top-line performance of the company's container operations and revenues from the Captive Insurance Program. The net loss was attributed to a 175 percent increase in purchased transportation and rentals expenses.