Business
TransForce Inc. Announces Solid 2011 Second Quarter Results
31% increase in second-quarter total revenue EBIT growth of 21% to $49.3 million ...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\n\n\n31% increase in second-quarter total revenue \n\n\nEBIT growth of 21% to $49.3 million\n\n\nSecond-quarter adjusted profit rose 20% to $28.0 million\n\n\nNet cash from operating activities, before net change in non-cash\n working capital, up 11% to $67.3 million\n\n\nAcquisition of expedited cross border carrier Concord Transportation\n Inc.\n\n\nMONTREAL, Aug. 2, 2011 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a\n North American leader in the transportation and logistics industry,\n today announced its results for the second quarter ended June 30, 2011.\n\n\n\"TransForce achieved a solid performance in the second quarter. Revenue\n growth was driven by recent acquisitions and our relentless focus on\n operating efficiencies yielded another solid increase in the key EBIT\n metric despite a hesitant economy. With the addition of Dynamex and the\n creation of Loomis Express through the acquisition of DHL Express\n Canada's domestic operations, we are positioned to further leverage the\n strength of our expanded Package and Courier network. The\n Less-Than-Truckload (\"LTL\") market remains challenging and we continue\n to proactively implement measures to further optimize asset\n utilization. Such initiatives were beneficial to our Truckload (\"TL\")\n activities, as profitability further increased despite stable revenue.\n Finally, stronger demand from the energy sector remains a key\n performance driver in the Specialized Services segment,\" said Alain\n Bdard, Chairman, President and Chief Executive Officer of TransForce.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFinancial highlights\n\n\nQuarters ended June 30,\n\n\n\n\n\nSix months ended June 30,\n\n\n(in millions of dollars, except per share data)\n\n\n 2011\n\n\n\n\n\n 2010\n\n\n\n\n\n 2011\n\n\n\n\n\n2010\n\n\nTotal revenue\n\n\n650.8\n\n\n\n\n\n496.9\n\n\n\n\n\n1,212.1\n\n\n\n\n\n963.0\n\n\nRevenue excluding fuel surcharge\n\n\n581.5\n\n\n\n\n\n455.9\n\n\n\n\n\n1,090.5\n\n\n\n\n\n885.1\n\n\nProfit from operating activities (EBIT1)\n\n\n49.3\n\n\n\n\n\n40.9\n\n\n\n\n\n73.7\n\n\n\n\n\n59.0\n\n\nAdjusted profit2\n\n28.0\n\n\n\n\n\n23.3\n\n\n\n\n\n40.2\n\n\n\n\n\n29.2\n\n\n\n\n\nPer share - diluted ($)\n\n\n0.29\n\n\n\n\n\n0.24\n\n\n\n\n\n0.42\n\n\n\n\n\n0.31\n\n\nProfit for the period\n\n\n26.2\n\n\n\n\n\n17.0\n\n\n\n\n\n41.2\n\n\n\n\n\n43.1\n\n\n\n\n\nP...