Universal Truckload Services reported net income in the fourth quarter of 2012 totaling $2.5 million, down 77 percent from $10.7 million in the fourth quarter of 2011.
However, quarterly operating revenue increased 4.5 percent to $259.1 million from $248.0 million in the same quarter in the previous year.
For the full year of 2012, the asset-light provider of transportation, value-added and intermodal services showed profit of $47.7 million, a decline of 7 percent from $51.4 million in 2011. Annual operating revenue rose 5 percent to $1.0 billion from $990.7 million.
Scott Wolfe, who was appointed CEO in December 2012, said in a written statement that 2012 was a “year of dramatic transportation” for the North American company, including the acquisition of LINC Logistic Co.
“The combined financial performance of the company positions us for solid growth in the year ahead,” Wolfe added.