Vitran’s Third-Quarter Profit Drops

Vitran Corp. said Wednesday its third-quarter profit fell to $2.1 million, or 15 cents a share, from $3.1 million, or 23 cents, a year earlier.

The Toronto-based trucking and transportation firm said revenue rose 15% to a record $198.6 million

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

LTL segment income from operations was $3 million, down from $5.7 million, while revenue rose 10.6% to $166.2 million.

Logistics revenue gained 70.7% to $23.4 million, and income from operations rose 81.4% to a record $1.5 million.

Truckload segment income from operations slipped to $308,000, from $420,000, while revenue rose to $9 million, from $7.9 million.

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