Express-1 Posts Improved Results in 1Q
Express-1 Expedited Solutions said it improved its net income and revenue during the first quarter of 2010
Express-1 Expedited Solutions said it improved its net income and revenue during the first quarter of 2010.
The carrier managed to get income up to $834,000, compared to $5,000 in the year-ago period.
The non-asset based services organization, out of Michigan, boosted operating revenue by 58 percent to $31.6 million from $20.1 million in the first quarter of 2009. The company attributed $2.1 million in revenue for the quarter to LRG International, which it recently acquired.
During the same period, operating income from continuing operations improved by $1.6 million to $1.5 million, compared to a loss of $27,000 for the first quarter of 2009.
"2009 was a year of focusing on a strategic plan that we hoped would prepare us for 2010," said Michael R. Welch, CEO. "The first quarter results have validated last year's efforts and have prepared us to thrive in an improved economy. We look forward to continued strong results for the remainder of 2010."
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