Echo Global Logistics Boosts Profit, Acquires Sharp Freight

Echo Global Logistics Boosts Profit, Acquires Sharp Freight

Echo Global Logistics reported net income in the third quarter of $3.82 million, a 12.9 percent increase from l$3.38 million during the same period last year.

Profit in the first nine months of 2012 was $10.53 million, a 23.7 percent jump from $8.52 million in 2011.

Quarterly revenue was $192.74 million, a 21.3 percent improvement year-over-year from $158.96 million in the third quarter of 2011. Revenue from January to September was $546.54 million, up 24.2 percent from $439.91 million in 2011.

The company anticipates its fourth quarter revenue will be in the range of $200 million to $215 million, CEO Doug Waggoner said in a written statement.

The third-party logistics operator also has acquired Sharp Freight Systems, an intermodal and truckload brokerage headquartered in Yorba Linda, Calif., with offices in Houston, that generated about $71 million in gross revenue in the past 12 months.

“The team at Sharp Freight augments our existing intermodal and truckload expertise while increasing our presence in key southern and West Coast markets,” Waggoner said.