Tuesday, January 16, 2018

Quality Distribution 4Q profit falls as sales drop


Thursday, March 11, 2010
As it did when it released preliminary results on Feb. 9, Quality Distribution said it would have earned a penny per share without some items, including refinancing and restructuring costs and a gain on the sale of some assets.
As it did when it released preliminary results on Feb. 9, Quality Distribution said it would have earned a penny per share without some items, including refinancing and restructuring costs and a gain on the sale of some assets.

TAMPA, Fla. — Tanker carrier Quality Distribution Inc. said Wednesday its fourth-quarter earnings fell on lower sales and one-time expenses.

The company said it earned $4.6 million, or 21 cents per share, compared with $13 million, or 66 cents per share, a year earlier.

As it did when it released preliminary results on Feb. 9, the company said it would have earned a penny per share without some items, including refinancing and restructuring costs and a gain on the sale of some assets.

Revenue fell 10 percent to $151.3 million compared with $168.1 million a year earlier.

On average, analysts surveyed by Thomson Reuters forecast a quarterly loss of 4 cents per share and revenue of $140.3 million.

For the full year the company lost $180.5 million, or $9.28 per share, compared with profit of $12.1 million, or 62 cents per share, in 2008. Revenue fell 25 percent to $613.6 million from $815.3 million.

Kevin Jones of The Trucker staff can be reached for comment at kevinj@thetrucker.com.

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