Quality Distribution First Quarter Revenues Up Slightly, Net Income Down

Quality Distribution (Nasdaq:QLTY), a North American logistics and transportation provider, has reported a 2.2% increase in revenue versus the prior-year period; however, net income dropped to $3.1 million, or $0.11 per diluted share as compared to net income of $9.1 million, or $0.34 per diluted share, for the first quarter ended March 31, 2013.

“Each of our business segments performed well this quarter once weather conditions improved, resulting in adjusted earnings that met the high end of our expectations,” stated Gary Enzor, Chairman and Chief Executive Officer.

“We look forward to carrying this momentum into our stronger seasonal quarters as all indicators point to solid revenue expectations across our segments, most notably in our Chemical business,” he added.

Consolidated revenue for the first quarter of 2014 was $234.5 million, an increase of 2.2% versus the same quarter last year. Excluding fuel surcharges, revenue for the first quarter of 2014 increased $5.3 million, or 2.7%, compared to the prior-year

Category: General Update