Transportation.com, the web-based transportation services company, announced that it expects to achieve profitability by the end of the year.
The company, based in Overland Park, Kan., and Irvine, Calif., released operating figures to support its statement. According to the announcement, Transportation.com achieved revenues of $6.7 million for the first quarter of 2001 and ended its first nine months of operation with more than 8,700 members, up 23 percent since the first of the year.
The company said it has experienced increases in shipping transactions and repeat business. Transactional shipments increased by 37 percent during the quarter compared to the first six months of operation. Approximately 40 percent of
transactional customers returned to do more business, and the company has secured 21 long-term contracts for transportation services.
According to President and CEO Jim Ritchie, growth in all of the company's business units, including freight forwarding, transactional and contractual transportation management services, and asset disposal (primarily through an online equipment auction service), contributed to first quarter revenue.
Since its first online auction last July, Transportation.com has sold more than 3,000 pieces of used transportation equipment. It has expanded its seller base to include four national carriers with extensive equipment fleets. Sales from its online auctions have generated in excess of $2 million for equipment sellers.
The company, based in Overland Park, Kan., and Irvine, Calif., released operating figures to support its statement. According to the announcement, Transportation.com achieved revenues of $6.7 million for the first quarter of 2001 and ended its first nine months of operation with more than 8,700 members, up 23 percent since the first of the year.
The company said it has experienced increases in shipping transactions and repeat business. Transactional shipments increased by 37 percent during the quarter compared to the first six months of operation. Approximately 40 percent of
transactional customers returned to do more business, and the company has secured 21 long-term contracts for transportation services.
According to President and CEO Jim Ritchie, growth in all of the company's business units, including freight forwarding, transactional and contractual transportation management services, and asset disposal (primarily through an online equipment auction service), contributed to first quarter revenue.
Since its first online auction last July, Transportation.com has sold more than 3,000 pieces of used transportation equipment. It has expanded its seller base to include four national carriers with extensive equipment fleets. Sales from its online auctions have generated in excess of $2 million for equipment sellers.
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