Universal Truckload Services reported increased revenue and net income for the 13-week period ending April 3, 2010, as the company experienced some improvement in the industrial sector.
"We are beginning to see signs of improvement in our industrial sectors, especially within the metals market," said Don Cochran, Universal's president and CEO.
For the 13-week period, net income rose by $1.9 million to $2.1 million, or 13 cents a share, compared to $0.1 million, or 1 cent per share, for the 13 weeks ended March 28, 2009.
Truckload revenue was up 25.5 percent to $86.2 million from $68.7 million in the corresponding period of 2009.
Intermodal revenue increased by 10.1 percent to $20.4 million from $18.6 million in the 2009 period.
Despite the improvement, Cochran said the company did see some difficulty during the period.
"Seasonal shipping patterns and bad weather have caused some breaks in momentum during the quarter," he said. "While equipment availability appears to be tightening, weak pricing still persists in the market. We have also completed four acquisitions in the last three quarters. These acquisitions are showing progress, but are not yet to the level of performance that we expect. As we begin to see business improve, concentrating on controlling costs at all levels remains key to returning to our expected performance levels."
"We are beginning to see signs of improvement in our industrial sectors, especially within the metals market," said Don Cochran, Universal's president and CEO.
For the 13-week period, net income rose by $1.9 million to $2.1 million, or 13 cents a share, compared to $0.1 million, or 1 cent per share, for the 13 weeks ended March 28, 2009.
Truckload revenue was up 25.5 percent to $86.2 million from $68.7 million in the corresponding period of 2009.
Intermodal revenue increased by 10.1 percent to $20.4 million from $18.6 million in the 2009 period.
Despite the improvement, Cochran said the company did see some difficulty during the period.
"Seasonal shipping patterns and bad weather have caused some breaks in momentum during the quarter," he said. "While equipment availability appears to be tightening, weak pricing still persists in the market. We have also completed four acquisitions in the last three quarters. These acquisitions are showing progress, but are not yet to the level of performance that we expect. As we begin to see business improve, concentrating on controlling costs at all levels remains key to returning to our expected performance levels."
media brand
0 Comments
See all comments