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				Vitran reports $4.2 Million Q2 Net Loss
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						Jul 19, 2012 06:48 PM
					
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					Last Updated: Jul 19, 2012 06:48 PM
				
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				<p>TORONTO -- Canadian trucking and logistics giant Vitran Corp. reported a Q2 net loss of US$4.2 million, or $0.25 a share, compared to last year&rsquo;s loss of $2.3 million, or $0.14 a share. (Vitran sits at the number-three spot on the Today&rsquo;s Trucking Top 100 List of For-Hire Canadian fleets.)</p>
<p>This year, Vitran&rsquo;s less-than-truckload (LTL) business saw a 4.5-percent revenue increase since last year, boosting their revenue to $183.8 million.</p>
<p>"Our U.S. LTL operation continues to be our main challenge, priority and opportunity," said Vitran president and Chief Executive Officer Rick Gaetz.</p>
<p>"Although U.S. LTL operating results in the second quarter improved approximately 10 per cent from the 2012 first quarter, the improvement was much less than we anticipated."</p>
<p>While revenues grew to $213.1 million from $208.9 million a year ago, operating expenses also rose to $211.2 million from $205.1 million last year for the same quarter.</p>
<p>But Vitran shares stayed at $5.77 on the Toronto Stock Exchange on July 18.</p>
<p><span style="color: #3366ff;"><a href="http://www.winnipegfreepress.com/business/vitran-trucking-firm-reports-net-loss-of-42-million-for-q2-163045336.html" target="_blank"><span style="color: #3366ff;">Read the full Winnipeg Free Press article here.</span></a></span></p>
			
				
				
			
				
				
			
			
			
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