Velocity Express’ Fiscal 2Q Loss Narrows

Velocity Express said Wednesday it lost $10.7 million, or $3.82 a share, in its fiscal second quarter ended Dec. 29, compared with a loss of $15.2 million, or $9.16, a year earlier.

The package-delivery and supply chain management company’s revenue fell to $86.1 million, compared with $102.3 million a year earlier.

Operating loss for the quarter was $3.9 million, compared with an operating loss of $8.7 million the previous second quarter, the company said in a statement.

Velocity Express ranks No. 74 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.