Express-1 Expedited Solutions reported significant improvements in revenue and earnings for the second quarter.
For the quarter, revenue from continuing operations increased by 81 percent to $40.3 million compared to $22.2 million in the second quarter of 2009. Year over year revenues increased by 70.1 percent to $72 million compared to $42.3 million in the first six months of 2009.
For the quarter, net income improved by $1.2 million to $1.5 million, compared to income of $288,000 in the second quarter of 2009. Year to date net income improved by $2 million to $2.3 million compared to net income of $293,000 in the comparable period in 2009.
"I am extremely pleased with our second quarter results. This is a great accomplishment for our team who has been instrumental in delivering quality solutions to our customers. Obviously, we are very excited about the remainder of the year and look forward to a strong finish in the second half of 2010," commented Mike Welch, the company's CEO.
Express-1 Expedited Solutions is a non-asset based services organization focused on premium transportation through its business units, Express-1, Inc. (Buchanan, Michigan), Concert Group Logistics, Inc. (CGL) (Downers Grove, Illinois), and Bounce Logistics, Inc. (South Bend, Indiana). These business units are focused on premium services that include same-day, time-sensitive transportation and domestic and international freight forwarding.
For the quarter, revenue from continuing operations increased by 81 percent to $40.3 million compared to $22.2 million in the second quarter of 2009. Year over year revenues increased by 70.1 percent to $72 million compared to $42.3 million in the first six months of 2009.
For the quarter, net income improved by $1.2 million to $1.5 million, compared to income of $288,000 in the second quarter of 2009. Year to date net income improved by $2 million to $2.3 million compared to net income of $293,000 in the comparable period in 2009.
"I am extremely pleased with our second quarter results. This is a great accomplishment for our team who has been instrumental in delivering quality solutions to our customers. Obviously, we are very excited about the remainder of the year and look forward to a strong finish in the second half of 2010," commented Mike Welch, the company's CEO.
Express-1 Expedited Solutions is a non-asset based services organization focused on premium transportation through its business units, Express-1, Inc. (Buchanan, Michigan), Concert Group Logistics, Inc. (CGL) (Downers Grove, Illinois), and Bounce Logistics, Inc. (South Bend, Indiana). These business units are focused on premium services that include same-day, time-sensitive transportation and domestic and international freight forwarding.
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