Patriot's net income down

Aug. 1, 2003
Patriot Transportation Holding Inc., the parent of Florida Rock & Tank Lines Inc. and Sunbelt Transportation Inc., said it had a 14.6% decrease in its net income for the third quarter. The company reported net income of $1,346,000 for the quarter, a decrease of $231,000 when compared to the same quarter last year. Net income for the first nine months of fiscal 2003 was $2,906,000, a decrease of $1,441,000
Patriot Transportation Holding Inc., the parent of Florida Rock & Tank Lines Inc. and Sunbelt Transportation Inc., said it had a 14.6% decrease in its net income for the third quarter.

The company reported net income of $1,346,000 for the quarter, a decrease of $231,000 when compared to the same quarter last year.

Net income for the first nine months of fiscal 2003 was $2,906,000, a decrease of $1,441,000 or 33.1% from the first nine months of fiscal year 2002.

The company said its net income for the quarter and first nine months was affected by higher risk insurance premiums and claims expenses related to prior years' workers compensation occurrences.

Sponsored Recommendations

Way Beyond Weight: 5 Ways Truck Weights Affect Fleet Operations

Truck weights affect everything from highway safety and operational costs to back-office efficiency. Here’s how.

Heavy-Duty Maintenance Checklist

A maintenance checklist can help ensure you hit everything necessary during an inspection. Check out our free downloadable checklist to help streamline your repairs.

Five Ways a Little Data Can Save Your Company Millions

While most trucking and logistics companies rely on cellular to keep their work fleet connected, satellite has the ability to connect anywhere and through small data transmission...

Fleet Case Study: 15% YOY Growth for ITDS

Learn how this small trucking company scaled significantly and maintained outstanding customer service without adding additional people. Sylectus TMS can automate operations and...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!