Vitran watches revenues rise but takes a loss

Toronto-based trucking and logistics company Vitran Corp. saw its revenues rise, but took a $2.3 million-Canadian loss in the first nine months of 2001. For the first nine months of 2001, Vitran said its revenues topped $228.3 million, up slightly from $225.1 million in the same period in 2000. Net income, however, dropped to $93,000, compared to $5.1 million in 2000. The company also took a charge

Toronto-based trucking and logistics company Vitran Corp. saw its revenues rise, but took a $2.3 million-Canadian loss in the first nine months of 2001.

For the first nine months of 2001, Vitran said its revenues topped $228.3 million, up slightly from $225.1 million in the same period in 2000. Net income, however, dropped to $93,000, compared to $5.1 million in 2000. The company also took a charge this year of $3.2 million for discontinued operations, including a $2.35 million loss coverage provision. That meant Vitran ended up with a loss in the first nine months of 2001 of $2.3 million.

Vitran offers LTL, logistics, truckload, intermodal and truck brokerage services throughout North America.

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