Express-1 Reports Lower 2Q Earnings

Express-1 Expedited Solutions said its second-quarter profit fell 39.2% to $914,000, or 3 cents per share, from $1.5 million, or 5 cents, a year ago.

Revenue rose 9.3% to $44.1 million, the logistics firm said late Monday.

Revenue rose 12.2% to $23.1 million at its Express-1 unit, declined 2.2% at its Concert Group Logistics unit to $15.7 million and jumped 43% to $6.7 million at its Bounce Logistics unit.

Express-1 Expedited Solutions, a non-asset based transportation company that operates through its three logistics units, said it has scheduled a Sept. 1 shareholders’ meeting to approve a takeover by Jacobs Private Equity, a firm controlled by investor Bradley Jacobs.