Netherlands-based CEVA Logistics on Wednesday reported a pretax loss of 50 million euros ($64.6 million) for the third quarter, compared with a year-earlier loss of $129.2 million.
Year-to-date, the pretax loss grew to $292.1 million from $184.8 million a year earlier.
“We are addressing the decline in profitability with a comprehensive plan to reduce overhead costs and improve contract performance,” said CEO Marvin O. Schlanger in a written statement.
Quarterly revenue was $2.4 billion, up from $2.3 billion in 2011. Revenue from January to September was $6.9 billion, up from $6.7 billion compared with the same period last year.