Bulk hauler Matlack Systems, Wilmington, DE, was back in the black for its first
fiscal quarter ended Dec. 31, 1999.
Earnings before income taxes were $342,000, compared with a loss of $3.1 million last year. Net earnings were $140,000, up from a net loss of $1.9 million in 1998.
Operations in the first quarter reflected the impact of significant changes made by the new management team since July 1999.
Overall, the number of loads carried in the first quarter of 2000 was lower than a year ago and the rate per load was marginally higher, while all major operating cost categories, except fuel, were lower in the first quarter than in the prior year.