Roadrunner’s revenues, profits up sharply
May 2, 2012
Roadrunner Transportation Systems Inc.’s total revenue for the first quarter of 2012 ended March 31 rose 38.2% to $236.57 million from the same 2011 quarter, the asset-light transportation and logistics service provider said May 2. Operating income soared 93.1% to $14.64 million while net income jumped 80.2% to $7.93 million.
Mark DiBlasi, president and chief executive officer, said the financial results — including a 70.5% increase in net revenue — resulted from strong performance across all of Roadrunner business segments. The operating income was the best in the company’s history, he said, adding that operating ratio improved 180 basis points to 93.8% from 95.6%.
Roadrunner’s less-than-truckload revenues increased because of “initiatives to penetrate new customers, expand into new geographic regions, build density and enhance productivity,” DiBlasi said. “We expect these continued and new initiatives to improve our operating ratio as we move forward.”
DiBlasi said truckload revenues benefited from 2011 acquisitions. “Organic growth in our refrigerated business was reduced by the impact of crop failures in the Northeast,” he said.
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