Vitran watches revenues rise but takes a loss

Nov. 8, 2001
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.

About the Author

Sean Kilcarr | Editor in Chief

Sean previously reported and commented on trends affecting the many different strata of the trucking industry. Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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