Patriot Transportation’s 4Q Profit Slips

Patriot Transportation Holding’s fiscal fourth-quarter net income slipped to $1.8 million, or 19 cents a share, from $2 million, or 21 cents, a year ago.

Revenue for the period ended Sept. 30 rose 11.9% to $31.3 million, the tank and bulk carrier said Wednesday.

For its full fiscal year, Patriot’s net income rose to $12.2 million, or $1.29 per share, from $7.3 million, or 78 cents, a year ago. Revenue rose 7.9% to $120.1 million.

Transportation operating profit for the quarter fell to $1.6 million from $2.2 million, while revenue rose to $25.6 million, from $22.8 million.

For the full fiscal year, transportation operating profit fell to $8 million from $8.2 million, while revenue rose to $97.8 million from $89.6 million.

Patriot undertook a 3-for-1 stock split in the form of a dividend late last year, and new shares were issued in January.

Patriot operates tank carrier Florida Rock & Tank Lines and a real estate business.