Universal Trucking capitalizes upon increasing operational revenues

by Darcie | Friday, Feb 24, 2012 | 392 views

Universal Trucking declared its results for the quarter ended December 2011. The earnings of $3.54 million for the quarter that ended Dec. 31 were equivalent to 23 cents per share, compared with a profit of $3.17 million, or 20 cents per share, a year earlier. Revenue rose nearly 12 percent as well, to $174.6 million. Results have been impressive as top line grew by about 12 percent.

Commenting on the results CEO Don Cochran stated that “Overall our continued revenue growth was driven by increases in our operating revenues per load and the number of loads we hauled, as well as increases in the fuel surcharges we pass along to our owner-operators. Income from operations increased by 16.5% in the fourth quarter of 2011 compared to the same period last year, and by 58.7% for the full year 2011 compared to 2010. Excluding fuel surcharges, we improved our operating ratio by 40 basis points in the fourth quarter of 2011 compared to the same period last year, and by 120 basis points for all of 2011.

Included in our earnings per share for 2010 and 2011 were $0.20 and $0.04, respectively, of after-tax gains from the sales of securities. Excluding these gains, our earnings increased from $0.60 per share to $0.97 per share, a 61.7% increase. We have made substantial progress in 2011, and look forward to 2012. We expect the economy to continue to grow, although modestly given the legislative and European economic headwinds, but are excited to face the challenges ahead.”

The company was maintaining healthy operating margins over the quarter. We maintain a buy on the stock at current market price.

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