Universal Truckload Services, Warren, Mich., announced financial results for the 13 and 39 weeks ended Sept. 27.


Operating revenues increased 24%, or $41.2 million, to $213 million from $171.8 million for the same quarter in 2007. Included in operating revenues are fuel surcharges of $32.2 million and $16 million for the third quarters of 2008 and 2007, respectively. Net income increased 5.4%, or $0.3 million, to $5.4 million, or $0.34 per diluted share for the third quarter of 2008, from $5.1 million, or $0.32 per share, for the third quarter of 2007.

Universal's truckload revenue in the third quarter of 2008 increased by 20.2% to $122.1 million from $101.6 million in the corresponding period of 2007. Included in truckload revenue in the third quarter of 2008 is $9.7 million from our acquisitions completed since the fourth quarter of 2007. Brokerage revenue in the third quarter of 2008 increased by 40.7% to $60.2 million from $42.8 million in the corresponding period of 2007. Included in brokerage revenue in the third quarter of 2008 is $1.4 million from acquisitions completed since the fourth quarter of 2007.

Intermodal revenue in the third quarter of 2008 increased by 12.2% to $30.8 million from $27.4 million in the corresponding period of 2007. Included in Intermodal revenue in the third quarter of 2008 is $2.9 million from acquisitions completed in the first half of 2008.

Operating revenues for the first nine months increased 14.5%, or $73.7 million, to $582.5 million from $508.8 million for the first 39 weeks of 2007. Included in operating revenues are fuel surcharges of $81.1 million and $47.6 million for the first three quarters of 2008 and 2007, respectively.

Net income YTD decreased 6%, or $0.8 million, to $12.3 million, or $0.76 per share through the third quarter of 2008, from $13 million, or $0.81 per share through the third quarter of 2007. Included in net income YTD were $1.7 million, or $0.10 per share, of after-tax charges for other- than-temporary impairments of marketable equity securities classified as available for sale.

Universal's truckload revenue in the first three quarters of 2008 increased by 12.6% to $340.3 million from $302.1 million in the corresponding period of 2007. Included in truckload revenue in the first three quarters of 2008 is $19.8 million from acquisitions completed since the fourth quarter of 2007. Brokerage revenue in the first three quarters of 2008 increased by 21.5% to $154.1 million from $126.9 million in the corresponding period of 2007. Included in brokerage revenue in the first three quarters of 2008 is $2.8 million from acquisitions completed since the fourth quarter of 2007. Intermodal revenue in the first three quarters of 2008 increased by 10.3% to $88.1 million from $79.9 million in the corresponding period of 2007. Included in Intermodal revenue in the first three quarters of 2008 is $6.6 million from acquisitions completed in the first half of 2008.