CD&L restates 2001 financials

Express delivery firm CD&L had to eliminate its 2001 operating income of $3.34 million as a change to accounting standards forced the carrier to restore a goodwill deduction taken on losses incurred when it sold off several subsidiaries last year. For 2001, South Hackensack, NJ-based CD&L said its revenues declined to $160.5 million versus $170 million in 2000. Its operating income before the accounting

Sean Kilcarr

April 22, 2002

For 2001, South Hackensack, NJ-based CD&L said its revenues declined to $160.5 million versus $170 million in 2000. Its operating income before the accounting charge was $3.34 versus an operating loss of $2.87 million in 2000. After deducting for this goodwill impairment, taking a loss on the sale of its Mid-West Region operation and charges for discontinued operations, CD&L said its 2001 net loss totaled $6.26 million.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.