Velocity Takes Fiscal 3Q Loss

Velocity Express said Tuesday it lost $13.3 million or 49 cents a share in its fiscal third quarter ended March 31, compared with a loss of $3.9 million or 23 cents a year ago.

The package-delivery and supply chain management company’s revenue fell to $98.2 million compared with pro forma revenue of $110.9 a year earlier.

Gross profit fell to $22.1 million compared with pro forma gross profit of $28.6 million last year, the company said late Tuesday.

Velocity Express ranks No. 84 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.