The asset-light freight transportation and logistics provider Roadrunner Transportation Systems Inc. reported a 10.4% increase in its fourth quarter 2014 net income compared to the same time a year earlier.

It totaled $12.4 million, due in part to a 45.1% increase in revenue of $532.5 million. Diluted earnings per share increased to 32 cents from 29 cents for the Wisconsin-based operation.

“Revenues for truckload, our largest revenue segment, grew by $131.4 million, or 73.%, during the fourth quarter of 2014 from the prior year fourth quarter,” said Mark DiBlasi, President and CEO. “Less-than-truckload revenues grew by $5.4 million, or 4%, during the fourth quarter of 2014 from the prior year fourth quarter.”

Truckload operating income was $19.7 million for the fourth quarter of 2014 compared with $11.5 million for the fourth quarter of 2013.

He noted the company’s LTL operating ratio fell to 96.1 in the fourth quarter of 2013 to 98 in the fourth quarter of 2014. “We have implemented extensive operational and pricing initiatives, which resulted in an increase in net revenues by over 300 basis points in December compared to October and November. We expect these operational and pricing initiatives to continue into 2015 and to favorably impact our 2015 LTL operating ratio.”

LTL operating income was $2.8 million for the fourth quarter of 2014 compared with $5.2 million for the fourth quarter of 2013.

The company’s Transport Management Solutions revenues increased 56.6% to $85.7 million for the fourth quarter of 2014 from $54.7 million for the fourth quarter of 2013. TMS operating income was $5.7 million compared with $3.8 million a year earlier.

For all of 2014 consolidated revenue increased 37.6% to $1.87 billion from $1.36 billion in 2013. Net income increased 6.1% to $52 million from $49 million in 2013 while diluted earnings per share was $1.32 in 2014 compared to $1.29 in 2013.

“We were extremely pleased with our TL and TMS segments' record performance for revenue and operating income,” said DiBlasi. “Our 2014 LTL segment performance was unacceptable. The drop in our LTL operating income from 2013 to 2014 had a major negative impact on our overall 2014 company results. Under our new LTL leadership, we have upgraded talent and believe we have taken measures to ensure the 2014 LTL performance will not be repeated and the 2015 performance will be positive.”

“We anticipate our revenues for the first quarter of 2015 to be in the range of $505 million to $540 million, representing an increase of 32% to 41% from the first quarter of 2014,”said Peter Armbruster, CFO of Roadrunner. “We expect diluted earnings per share available to common stockholders to be between 34 cents and 37 cents, compared with diluted earnings per share available to common stockholders of 27 cents in the prior year quarter."