Express-1 Reports Lower 2Q Income

Express-1 Expedited Solutions earned $288,000, or 1 cent per share, in the second quarter, down from $774,000, or 2 cents, a year ago.

Revenue fell 25% to $22.2 million, on soft demand, the company said Tuesday.

We are cautiously optimistic that both revenue and net income will increase for the remainder of the year as we are beginning to see increased freight volumes,” Michael Welch, the company’s chief executive officer, said in a statement.

Express-1 Expedited Solutions is a non-asset based transportation company that operates through business segments Express-1 Inc., Concert Group Logistics, Express-1 Dedicated and Bounce Logistics.