Quality’s Second-Quarter Income Jumps

Tank truck carrier Quality Distribution said its second-quarter profit jumped on higher revenue and lower expenses.

Net income was $9 million, or 37 cents per share, up from $2.1 million, or 9 cents, a year ago. Revenue rose 7% to $190 million.

In a statement Monday, Quality attributed its higher profit to cost containment initiatives, lower insurance costs, and reduced maintenance and depreciation expenses.

In the statement, CEO Gary Enzor said he was pleased with the company's earnings, "especially in light of lighter volumes in our core chemical logistics business due to continued driver turnover issues."

Quality Distribution is ranked No. 33 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.