NTE Inc., Downers Grove, Ill., announced higher than expected revenues and business volumes in the fourth quarter.
The privately held company, which offers a suite of online transportation solutions to, had its most successful quarter and fiscal year ever.
Compared to the same period a year ago, revenues quadrupled (up 300 percent), trading activity in its public e-marketplace tripled (up 250 percent) and its customer base doubled. Activity on its Web site - which is the principal way its customers transact and connect to NTE's core service - also quadrupled from a year ago as the company recorded more than 17 million hits, or about 280,000 per business day.
The company also realized solid revenue growth from services other than its public e-marketplace offering, the NTE Exchange. During the quarter, several Fortune 500 firms and others with sophisticated supply chains launched or committed to develop private communities, or custom-designed e-marketplaces. Sales from the development of private communities and other NTE e-transportation services, which were negligible a year ago, contributed to surpassing the company's fourth-quarter expectations.
"E-commerce has moved from a novelty to a necessity for transportation services companies seeking a competitive edge," said Jim Davidson, NTE president and CEO. "Customers are telling us loud and clear that there is a better, more efficient way to manage and execute transportation services."
For the year, NTE's sales quadrupled (up 340 percent), the majority of which came from its Exchange service. NTE Exchange revenues are generated from trades that occur as buyers (i.e., shippers and third-party logistics companies) and sellers (i.e., transportation carriers) transact dynamically using its automated, online service.
Also during the quarter, NTE executed more truckload moves. These higher margin transactions now represent about 70 percent of its Exchange business. Two years ago NTE focused primarily on less-than-truckload moves.
The company built private communities for several companies. "Private communities are the major growth driver for our business," Davidson explained.
The company increased its customer base by 15 percent as it signed up 300 new companies who can buy or sell transportation services in its public e-marketplace. NTE now has more than 2,000 member companies.
The privately held company, which offers a suite of online transportation solutions to, had its most successful quarter and fiscal year ever.
Compared to the same period a year ago, revenues quadrupled (up 300 percent), trading activity in its public e-marketplace tripled (up 250 percent) and its customer base doubled. Activity on its Web site - which is the principal way its customers transact and connect to NTE's core service - also quadrupled from a year ago as the company recorded more than 17 million hits, or about 280,000 per business day.
The company also realized solid revenue growth from services other than its public e-marketplace offering, the NTE Exchange. During the quarter, several Fortune 500 firms and others with sophisticated supply chains launched or committed to develop private communities, or custom-designed e-marketplaces. Sales from the development of private communities and other NTE e-transportation services, which were negligible a year ago, contributed to surpassing the company's fourth-quarter expectations.
"E-commerce has moved from a novelty to a necessity for transportation services companies seeking a competitive edge," said Jim Davidson, NTE president and CEO. "Customers are telling us loud and clear that there is a better, more efficient way to manage and execute transportation services."
For the year, NTE's sales quadrupled (up 340 percent), the majority of which came from its Exchange service. NTE Exchange revenues are generated from trades that occur as buyers (i.e., shippers and third-party logistics companies) and sellers (i.e., transportation carriers) transact dynamically using its automated, online service.
Also during the quarter, NTE executed more truckload moves. These higher margin transactions now represent about 70 percent of its Exchange business. Two years ago NTE focused primarily on less-than-truckload moves.
The company built private communities for several companies. "Private communities are the major growth driver for our business," Davidson explained.
The company increased its customer base by 15 percent as it signed up 300 new companies who can buy or sell transportation services in its public e-marketplace. NTE now has more than 2,000 member companies.
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