News

Revenues at Transport Corp. of America fall

July 21, 2003

Transport Corp. of America, Inc. said its revenues for the second quarter of $65.6 million were down 4% compared to the same period last year. The company's second-quarter net loss was $837,000 compared with 2002 second quarter net income of $208,000. President & CEO Michael Paxton said a soft freight environment during much of the second quarter, especially in a number of key geographic markets,

Transport Corp. of America, Inc. said its revenues for the second quarter of $65.6 million were down 4% compared to the same period last year.

The company's second-quarter net loss was $837,000 compared with 2002 second quarter net income of $208,000.

President & CEO Michael Paxton said a soft freight environment during much of the second quarter, especially in a number of key geographic markets, significantly reduced available miles.

"The soft freight environment negatively impacted our utilization during the quarter," said Paxton, who added that miles per tractor were down 1.9% and revenue per tractor down 1.4% over 2002 levels.