Quality's Profits Fall in Q2

Tank truck carrier Quality Distribution, Tampa, Fla., said its second-quarter net income sank to $2.2 million or 12 cents a share, compared with $5.5 million or 28 cents a year ago.

Revenue rose to $194.6 million from $190.3 million, the company said late Wednesday.

The company said its earnings were adversely impacted by a higher than normal effective tax rate in the second quarter.

During the quarter, the carrier announced the acquisition of Brite Clean, a Bensalem Penn., tanker washing company, and Boasso America Corp., a Chalmette, La., firm that provides tanker cleaning and maintenance services.

Quality Distribution ranks No. 35 on the Transport Topics 100 list of U.S. and Canadian for-hire carriers.