New business from acquisitions and market share gains pumped up revenue and earnings at hybrid trucker Roadrunner Transportation Services last year.
The company reported a $3.9 million profit in the fourth quarter, compared with a $1.3 million loss a year previously, as revenue surged 30 percent to $165.8 million.
Revenue ramped up across Roadrunner¹s less-than-truckload, truckload and transportation management divisions. LTL revenue increased 28.8 percent to $105.1 million, while truckload sales rose 28.8 percent to $43.8 million.
The non-asset-based trucking company boosted sales in its broker business by 39.4 percent to $17.7 million in the fourth quarter.
For the full year, revenue rose 30.8 percent to $632 million. Roadrunner posted a $2.8 million profit for the full year, compared with a $2 million loss in 2009.
”We remain focused in the near-term on improving pricing and expanding capacity to mitigate pressure on linehaul costs,” said Mark DiBlasi, president and CEO.
Roadrunner went public with $148 million initial public offering in May 2010. The Cudahy, Wis.-based carrier outperformed many of its peers in the recession.
This month Roadrunner acquired intermodal terminal operator Morgan Southern for $20 million in cash. It plans to pair the business with its truckload brokerage.
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