Trimac Transportation reports first-quarter profit and revenue up from year ago

CALGARY – Trimac Transportation Ltd. (TSX:TMA) said Wednesday that it earned $3.1 million in its latest quarter as revenue grew by more than 25 per cent form a year ago.

The trucking company said the profit amounted to 11 cents per share in the quarter ended March 31, compared with a profit of $2.2 million or eight cents per share a year ago.

Revenue grew to $105.9 million, up from $83.6 million, while revenue, excluding fuel surcharges, improved to $93.1 million from $72.3 million a year ago.

Trimac attributed the growth to its bulk trucking business which saw revenue before fuel surcharges improve to $84 million from $64.4 million.

Excluding fuel surcharges, the company’s bulk logistics business earned $5 million in revenue, up from $4.3 million a year ago, while its national tank services business earned $11.4 million in sales, up from $10.1 million.

In its outlook, the company said there had been a slow start to the year in many areas of its business due to stormy winter, but that things were starting to ramp up and it expected growth in revenue and earnings for 2013.

Trimac provides bulk trucking services across Canada as well as repairs, maintenance and tank-trailer cleaning services.