Transportation management company Transportation.com today said positive results for the first quarter of 2001, including revenue of $6.7 million, are strong indicators it is on track to achieve a profitable run rate by the end of the year.
Growth in all of the company's business units, including freight forwarding, transactional and contractual transportation management services and asset disposal, primarily through its online equipment auction service, contributed to first-quarter revenues of $6.7 million.
“We have momentum on all fronts,” said company president & CEO Jim Ritchie. “We're encouraged by what our customers and our results are telling us.”
Transportation.com concluded its first nine months of operation with more than 8,700 members, up 23% since the first of the year. It also has shown comparable increases in shipping transactions and repeat business.
The company said transactional shipments increased by 37% during the quarter compared to the first six months of operation. Approximately 40% of its transactional customers have returned to do more business with Transportation.com.
Ritchie said demand for the company's services is increasing because its technology solutions are easy to use and can be delivered through a variety of channels.