Quality Reports $11 Million 4Q Loss
Tank truck carrier Quality Distribution said it took a fourth-quarter loss of $11.2 million, or 58 cents a share, compared with a profit of $6.1 million, or 31 cents, a year ago.
Revenue rose 9% to $186.6 million, the company said late Wednesday.
For the full year, Quality lost $7.6 million, or 39 cents per share, compared with a profit of $56.2 million, or $1.87, in 2006. Revenue for the year rose 2.9% to $751.6 million.
The company pinned the loss on credit facility charges, and Chief Executive Officer said Quality was “very disappointed with our [quarterly] and full year 2007 results. We are committed to taking actions necessary to improve results.”
Quality Distribution is ranked No. 35 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
