Updated:
3/8/2011 8:30:00 AM
Trimac Transportation Ltd.’s fourth-quarter earnings rose to C$4.5 million, or 10 Canadian cents per unit, up from C$1.2 million, or 2 cents, a year ago.
Revenue rose to C$75 million, from C$65.7 million, Trimac said in a statement. Transportation revenue rose to C$68.6 million from C$60.8 million,
For the year, the company earned C$13.4 million, or 34 cents per unit, up from C$5.4 million, or 14 cents. Revenue rose 10.7% to C$291.1 million. Operating earnings for the year nearly doubled to C$17.7 million.
Formerly Trimac Income Fund, the company converted itself into a corporation on Jan. 1. The converted corporation operates the same business as its predecessor.
Results reported are from Canadian operations only and do not include proceeds from U.S. operations.
Trimac is ranked No. 40 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
© 2010, Transport Topics Publishing Group. All rights reserved.
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