Double-Digit Brokerage Growth Boosts Echo Profit 42.9 Percent

Double-Digit Brokerage Growth Boosts Echo Profit 42.9 Percent

A 21.9 percent jump in freight brokerage propelled Echo Global Logistics' profit in the first quarter to $3.1 million, up 42.9 percent year-over-year.

The third-party logistics operator saw revenue rise 30.2 percent year-over-year to $168.6 million in the same period. Echo’s operating income improved 49.3 percent to $5.3 million in the same period.

"We are off to a good start in 2012 and anticipate continued growth in both revenue and earnings as the year progresses,” said CEO Doug Waggoner.

The company expects revenue in 2012 to reach between $740 million and $780 million. Echo's revenue last year hit $602.8 million, a 41 percent increase from 2010.

Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @szakonyi_joc.