Vitran’s Second-Quarter Profit Declines

Vitran Corp. said Thursday its second-quarter income fell to $400,000, or 3 cents a share, compared with $4.6 million, or 34 cents, a year ago.

Revenue for the quarter fell to $158.7 million, from $196 million last year, the company said in a statement. Vitran has truckload, less-than-truckload and logistics operations in the United States and Canada.

Toronto-based Vitran said income from its LTL segment fell to $1.2 million from $8.5 million last year, due mainly to the challenging transportation pricing environment in North America, Reuters reported.

Its truckload segment reported operating income of $256,000, down from $321,000 a year ago, while its logistics segment’s operating income rose to 1.4 million, from $800,000 last year.

Vitran is ranked No. 40 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.