Streicher Mobile Fueling, a Florida-based refueling service provider for vehicle fleets, reported declining revenues and a loss over the last five months. The company also said it has changed its fiscal year to end on June 30 instead of January 31.
For the five months ended June 30, Streicher said it delivered 21.8 million gallons of fuel, down from 25.3 million gallons for the same five-month period last year. Total revenues declined to $29.5 million for the five-month period, compared to $36.5 million for the same period last year. The company also reported a net loss of $1.95 million, compared to a loss of $510,000 million last year.
“Recently implemented cost reductions, primarily in labor and maintenance, coupled with improved routing and scheduling efficiencies, and new customer profitability evaluations are expected to produce improved results during the first quarter of the new fiscal year,” said Richard E. Gathright, the company’s president & CEO.