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Vitran’s 4Q Income Flat; Company Reports Record Year
Toronto-based transportation and logistics firm Vitran Corp.’s fourth-quarter profit was $5 million or 37 cents a share, compared with $5 million or 39 cents a year earlier.
Revenue rose a record $153.8 million, from $113 million a year earlier, the company said Thursday.Vitran has truckload, less-than-truckload and logistics operations in the United States and Canada.Operating income from its LTL operations rose 21.3% to $8.3 million. Logistics segment operating income dipped to $596,000 from $609,000 in the previous fourth quarter. For the full year, Vitran said it recorded record results including net income of $19.4 million or $1.48 per share, up from $17.9 million or $1.40 in 2005. Revenue rose to $514.1 million from $428.2 million.The company said it expected its 2007 earnings per share to be between $1.60 and $1.70. Vitran is ranked No. 60 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.