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Patriot Transportation Earnings Fall

February 4, 2014

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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

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