Express-1 Reports Lower 3Q Earnings

Express-1 Expedited Solutions said Thursday it earned $499,000 or 2 cents a share in the third quarter, down from with $905,000 or 3 cents last year.

The ground expedited carrier’s revenue rose 23.1% to $13.4 million.

Most of the income decline was related to a provision for current taxes during the 2007 period, the company said in a statement.

According to its financial statement, net income before the tax item for the current quarter would have been $798,000.

“We continue to be focused on adding to our fleet capacity and on further developing of our customer base. These are two of the primary keys of our successful organic growth,” Chief Executive Officer Michael Welch said in a statement.

The company did not issue an earnings forecast.