Landair turns losses into profits

Truckload carrier Landair Corp. returned to profitability in the fourth quarter of 2001 and for the year as well, after losing millions in 2000. The Greenville, TN-based carrier generated $1.5 million in net income on lower revenues of $25 million in the fourth quarter of 2001,compared to a net loss of $7.7 million on revenues of $29.4 million in the same period last year. For 2001, Landair posted net income of $5.4 million on revenues of $106.9 million, after losing $ 7 million on revenues of $127.5 million in 2000.

The carrier added that sales of certain assets in 2001, along with lower fuel prices, helped lower its operating costs, which enabled Landair to return to profitability.