Universal Truckload Services reported net income of $13.7 million in the third quarter of 2013, falling 8.7 percent year-over-year from $15.1 million.
However, total quarterly revenue for the North American asset-light company, No. 26 on JOC’s list of the Top 50 Trucking Companies, rose 1.9 percent from $256.9 in 2012 to $261.7 million in 2013. Quarterly revenue from transportation services was $180.8 million, down from $184.7 million in the same period last year, while revenue from value-added services was $47.9 million, up from $41.2 million. Revenue from intermodal services in the third quarter was $32.9 million, compared with $31.0 million.
“Our third quarter 2013 operating results and financial performance are in line with our expectations,” said Scott Wolfe, Universal Truckload Services’ CEO, in a written statement. “Despite the heightened level of economic uncertainty due to the unsettling federal budget and debt limit debates, which we think may moderate demand from our commercial customers, we remain focused on providing the highest level of services to our customers and on continuing our track record of profitable growth.”
“We do anticipate underperformance in our government business and metals, but we are cautiously optimistic that the impact will be modest and short-term in nature,” he added.
The company’s financial results included results from LINC Logistics Co., which was acquired by Universal Truckload Services in October 2012.