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Dynamex Sales, Profit Slide
Same-day delivery firm invests in larger sales force
Profit at same-day delivery and logistics company Dynamex fell 56.7 percent to $1.6 million on sales of $92 million in its fiscal third quarter ending April 30 partly as a result of lower shipment volumes in the weak economy.
Sales fell 18.4 percent during the quarter compared with the same period a year ago, and the company said approximately half of the decline in U.S. core sales was the result of a decrease in shipment volume from its largest U.S. customer.
The company forecasts sales for its full-year fiscal 2009 ending July 31 will be roughly 10-15 percent lower than annual sales in fiscal 2008.
“While we continue to believe there will be little improvement in shipment volumes through the balance of our fiscal year ending in July, the investment in our sales force continues to be a priority for our business,” said Dynamex President and CEO James L. Welch. That effort will involve recruiting and training a “significantly larger and more highly skilled sales force.”
Contact John Gallagher at jgallagher@joc.com.
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