TransForce more than doubles sales for first quarter of 2000-2001

TransForce Inc., a leading Canadian transport and logistics company, announced this week that its sales for the first quarter of 2000-2001 increased by more than 114% over the same period last year.

The quarterly sales, which ended July 22, totaled $109,108,000 compared to $50,904,000 in the first quarter of 1999-2000. TransForce posted net earnings of $3,415,000
($0.10 per share), 27% more than last year’s first quarter net earnings, which
Was $2,685,000 ($0.09 per share). The Company also reported good results in cash flow from operations, which reached $9,783,000, or 45% more than the $6,738,000 reached in last year’s first quarter.

TransForce’s president and CEO Alain Bedard attributed the increase largely to its TST Solutions subsidiary and its five divisions. He added that since the company was acquired during the fourth quarter of 1999-2000, this is the first time TST’s contributions have made an impact for a whole quarter, adding that TST has helped increase productivity and reduce costs.