Roadrunner Posts Higher Profit for 4Q, Year
Roadrunner Transportation Systems reported higher fourth-quarter and full-year profits as truckload revenue surged.
The carrier’s fourth-quarter net income grew to $6.9 million, or 22 cents per share, from $3.9 million, or 12 cents, a year earlier, the carrier said late Wednesday.
Revenue climbed 43.6% to $238 million.
Less-than-truckload revenue rose 12.8% to $118.5 million, as tonnage improved 6.8%.
Truckload revenues surged 125.2% to $98.7 million, primarily due to the company’s 2011 acquisitions of Morgan Southern, Bruenger Trucking and Prime Logistics, the company said in a statement.
For full 2011, earnings jumped to $25.9 million, or 82 cents per share, from $2.8 million, or 11 cents, in 2010.
Revenue for the year grew to $843.6 million, up from $632 million last year.
The company said it anticipates first quarter revenue in the range of $225 million to $240 million, an increase of 32% to 40% from the first quarter of 2011, and net income to rise to between 22 and 24 cents per share, from 14 cents a year earlier.
