Trimac trucking (TSX:TMA) gets revenue boost from new customers, fuel surcharges – Dominion Lending Centres Clearlease

Trimac trucking (TSX:TMA) gets revenue boost from new customers, fuel surcharges - Dominion Lending Centres Clearlease

VANCOUVER, BRITISH COLUMBIA – (April 28, 2011) Clearlease Reports Trimac Transportation Ltd. (TSX:TMA) reports it had a slim profit in the first quarter, as a combination of increased market share and higher fuel surcharges combined to boost revenue by 11.4 per cent over the same time last year.

Net income was $900,000 for the three months ended March 31, while adjusted net income was $800,000 — three cents per share in each case. Adjusted net income was little-changed from the first quarter of 2010 but the net profit contrasted sharply with a $4.1-million net loss or 31 cents per share during that period.

Trimac’s overall revenue was $73 million, including $7.9 million of fuel surcharges. A year earlier, overall revenue was $65.5 million, including $5.4 million in surcharges.

The company says it’s the leader in Canadian bulk trucking, with operations across the country. It also provides third-party logistics services in Canada and the United States through a subsidiary.

“This increase was the result of increased volumes in most of the commodities hauled from new and existing customers, improved market share and an increase in fuel surcharge revenue of $2.5 million,” Trimac said Wednesday.

Excluding the surcharges, Trimac’s first-quarter revenue gained 8.3 per cent, rising to $65.1 million from $60.1 million.

The company’s shares were at $4.87, up half a cent, on the Toronto Stock Exchange at midafternoon.

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