U.S. Xpress shows 3Q profits

Oct 25, 2002 12:00 PM

Truckload carrier U.S. Xpress Enterprises posted net income of $1.1 million on revenue of $220.1 million in the third quarter, up from $304,000 in net income on $207.5 million in the same period last year.

For the first nine months of 2002, Chattanooga, TN-based U.S. Xpress had net income of $577,000 on revenue of $632.9 million, compared to a loss of $529,000 on revenue of $596.5 million in the first nine months of 2001.

The carrier said truckload revenues for the third quarter increased 5.5%, with a 2.7% increase in average revenue per tractor per week. Operating income in its truckload operations increased 18.1% to $5.8 million, despite the negative impact of steadily rising fuel prices, which added $600,000 to its operating expenses in the third quarter, U.S. Xpress said.

Revenues at the carrier's CSI/Crown operation increased by 24.3% in the quarter as airport-to-airport transportation business increased by over 28% and logistics services posted a 21% increase in revenues.