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Trimac Reports First-Quarter Profit

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5/6/2011 11:00:00 AM

Trimac Transportation Ltd. reported a first-quarter profit of C$9 million, or 3 Canadian cents per unit, turning around a loss of C$4.1 million, or 31 cents, a year ago.

Revenue rose to C$73 million, from C$65.5 million. Trucking revenue rose to C$58.6 million from C$54.1 million, and logistics revenue rose to C$3.8 million, from C$3.1 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.

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Tax, Accounting, Consulting - Emil Estafanous, CPA, CFF, CGMA