Global logistics company Stonepath Group Inc. reported net income of $275,000 compared to a net loss of $964,000 for the same quarter last year.
Stonepath's total revenues for the first quarter increased 247.2% to $45.4 million from $13.1 million for the first quarter of 2002.
The company's first quarter net income included a $750,000 charge related to the settlement of litigation that arose in August 2000 prior to its transition to a logistics business.
