Vitran’s Fourth-Quarter Income Declines

Vitran Corp. said Friday its fourth-quarter profit was $1.7 million, or 12 cents a share, down from $5 million, or 37 cents, a year earlier.

The Toronto-based transportation firm’s revenue rose 13.3% to $174.3 million.

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

LTL segment operating income fell to $2.2 million, from $8.3 million a year ago. Its logistics segment posted an all-time record, with revenue rising 89% to $18.3 million.

For the full year, Vitran earned $13.7 million, or $1.02 per share, down from $19.4 million, or $1.50, in 2006. Revenue rose 30.4% to $670.5 million.

Vitran is ranked No. 53 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.