Universal Truckload Services Inc. said fourth-quarter net income fell 7% to $10.5 million, or 35 cents per share, as profits fell at its logistics business.
In the year earlier, the Warren, Michigan-based company’s net income was $11.3 million, or 38 cents per share. Revenue increased 17% to $302.5 million. Profit before interest and taxes from truckload services rose nearly 40% to $9.6 million. Profit on that basis fell 13% in the logistics unit.
“Our truckload transportation and intermodal businesses enjoyed favorable demand and pricing environments throughout the year,” CEO Jeff Rogers said in a statement. He also noted the need to improve profit margins at the logistics and dedicated units.
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