New income for the quarter ending December 31 increased 140 percent to $14.9 million, up from $6.2 million a year earlier. For the year ended December 31, revenues rose 103 percent to $44.7 million, up from $22 million the previous year. Net income for 1999 totaled $106,758 compared with $121,767 for 1998.
For the first quarter ended March 31, 2000, revenues rose 136 percent to $18 million from $7.6 million a year earlier. Net income for the 2000 quarter totaled $37,432, compared with $119,946 in the year-ago period.
President and CEO Dan Pixler attributed the rise in revenues to several acquisitions, including Prostar Inc., Fulmer Trucking and Checkmate/Maverick Truck Brokerage, as well as top-line performance of the company's container operations and revenues from the Captive Insurance Program. The net loss was attributed to a 175 percent increase in purchased transportation and rentals expenses.