TransForce’s 1Q Earnings Decline

Canadian transporter TransForce Inc. said its first-quarter net earnings fell to C$14.9 million, or 15 Canadian cents a share, from C$26.1 million, or 27 cents, in a year earlier. 

Revenue rose to C$561.3 million from $C466.1 million, the Montreal-based trucking and logistics company said, reflecting TransForce’s acquisition of parcel carrier Dynamex, which closed in the first quarter.

Its first-quarter profit included a non-recurring gain of C$15.7 million related to a revaluation of one of the company’s waste-hauling subsidiaries, TransForce said.

Adjusted first-quarter profits, which exclude that gain and certain after-tax charges, were C$12.2 million in the 2011 period, and C$6 million in the 2010 first period, TransForce said.

TransForce Inc. is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.