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Roadrunner’s Third-Quarter Profit Grows
November 3, 2011 10:40 AM, EDT
Roadrunner Transportation Systems’ third-quarter profit climbed to $7.2 million, or 23 cents a share, from $4.4 million, or 14 cents, a year ago.
The company, which went public last year, said late Wednesday its revenue rose 38.2% to $226 million.
Less-than-truckload revenue rose 17.7% including fuel to $126 million, while truckload revenue jumped 102.9% to $79 million.
In the transportation management solutions segment, revenue climbed 20.6% to $22 million.
CEO Mark DiBlasi attributed Roadrunner’s improved LTL revenue to new customer growth and expansion into new markets.
DiBlasi said truckload revenue growth was driven by the company’s acquisitions of Morgan Southern in February, Bruenger Trucking in May and Prime Logistics Corp. in August. Prime Logistics Corp. is not connected to refrigerated hauler Prime Inc.
Roadrunner is ranked No. 38 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
