US: Truck Group announces positive quarter.
Second quarter income for the Ohio-based firm rose 29 per cent, with revenue jumping 14 per cent. Revenue for the quarter was $707.4m, compared with $621.1m for the same period last year.
Earnings in the quarter surpassed Wall Street estimates of 50 cents per share by 2 cents. The second period generated net income of $9.87m, or 52 cents per share. This compares to income generated by the company of $7.62m, or 40 cents per share in the same period last year.
These positive figures are due to increased business with Roadway registering a 7 per cent rise in total tonnage shipped. LTL, or `less-than-truckload` shipments, increased 8 per cent.