Trimac Reports Lower 2Q Income

Canada-based transportation firm Trimac Income Fund earned C$1.1 million, or 3 cents per unit, in the second quarter, compared with C$2.6 million, or 9 cents, a year ago.

Revenue slipped to C$63 million from C$83 million, Trimac said in a statement. Transportation revenue fell to C$59.6 million, from C$68.7 million a year ago.

The company’s Bulk Plus Logistics’ unit’s revenue fell 30.4%, due primarily to the exiting of a transload facility management contract in May 2008 and to decreased freight brokerage volumes in Canada and the United States.

Trimac does not include its U.S. operations in its publicly stated earnings, which only encompass Trimac Income Fund and its Canadian operations.

Trimac Income Fund is the Canadian segment of Trimac Group, which ranks No. 41 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.