Customized, time-critical ground delivery service provider CD&L Inc. saw revenues drop for the second quarter of 2001, but also watched its income for the quarter rise. The South Hackensack, NJ-based company said its revenues for the second quarter were just over $39.7 million compared to over $41.8 million for the same time period in 2000. Operating income for the second quarter was over $1.1 million compared to $378,000 for the same quarter in 2000.
However, as a result of the loss on the sale of CD&L’s mid-western courier business, which represented a non-cash book adjustment of about $2.2
million, so the carrier’s net loss for the three month reporting period was $2 million. For the first six months of 2001, CD&L posted revenues of over $79.8 million compared to $84.7 million in the same period last year. Operating income from the first six months of 2001 improved by approximately $3 million, said CD&L, as a result of the reported operating income of $1.7 million versus last year's operating loss of $1.1 million.