Vitran Reports First-Quarter Loss

Vitran Corp. lost $2.4 million, or 17 cents a share in the first quarter, compared with a profit of $1.1 million, or 8 cents, a year earlier.

Revenue fell to $139.6 million, from $177.5 million a year ago, the company said late Wednesday.

The Toronto-based firm attributed $22 million of the revenue decline to the fluctuation in fuel surcharges and foreign exchange rates in its Canadian operations.

Vitran has truckload, less-than-truckload and logistics operations in the United States and Canada.

Its LTL segment posted an operating loss of $2.7 million, compared with earning $2.1 million a year ago.

Its truckload segment reported operating income of $192,000, compared with earning $379,000 last year, while its logistics segment posted operating income of $400,000, compared with earning $700,000 a year ago.

Vitran is ranked No. 41 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.