Vitran posts record third quarter
TORONTO (Oct. 25, 2002) — Vitran Corp. announced record results for its third quarter this week.
The less-than-truckload and logistics company reported net income of $3.6 million, or 38 cents per share (basic), for the three months leading up to Sept. 30, compared to slightly more than 2.0 million or 21 cents per share during the same period the previous year. Revenues for the quarter rose to $123 million, nearly unchanged from the same period in 2001.
Vitran said the operating ratio of its LTL business improved slightly during the quarter to 94.1 per cent.
Based in Toronto, Vitran has significant LTL operations on both sides of the Canada-U.S. border. The company said a new facility in Vancouver would help bolster crossborder business, which has been growing steadily.
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