Quality Reports Fourth-Quarter Loss
Tank truck carrier Quality Distribution reported a loss for its fourth-quarter and full year but said it had operating profits for both periods.
Its fourth-quarter net loss was $10.7 million, or 51 cents per share, compared with a profit of $4.6 million, or 21 cents, a year earlier. Revenue rose 9.6% t0 $165.8 million.
For the year, Quality lost $7.4 million, or 36 cents per share, compared with a loss of $180.5 million, or $9.28 per share, in 2009. Revenue rose 11.9% to $686.6 million.
Fourth-quarter operating income excluding interest and other expenses was $7 million, compared with $14.2 million a year earlier. Full-year operating income was $36.7 million, compared with a $115.2 million loss in 2009.
“Both our logistics and intermodal operations showed excellent results in 2010 and we will continue to leverage our asset-light business model,” CEO Gary Enzor said in a statement.
Quality Distribution is ranked No. 36 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
