Patriot’s Fourth-Quarter Earnings Decline

Tank and bulk carrier Patriot Transportation Holding’s fiscal fourth-quarter net income fell 68% to $999,000, or 32 cents per share, from $3.2 million, or $1.02, a year ago.

Revenue for the quarter ended Sept. 30 fell about 20% to $27.8 million, the company said Monday. Transportation segment revenue was $22,312,000, down $6.36 million from a year ago.

For the full fiscal year Patriot earned $3.8 million, or $1.20 per share, compared with $8 million, or $2.55, a year ago. Full-year revenue fell to $114.6 million, from $129.9 million.

Patriot operates tank carrier Florida Rock & Tank Lines, flatbed hauler SunBelt Transport and a real estate business.

Transportation segment revenue for the quarter ended March 31 fell to $27 million, from $34.7 million a year ago, Patriot said in a statement.