Patriot Transportation Holding Inc. on Wednesday, May 2, reported net income of $1.643 million in the second quarter of fiscal 2012, a decrease of $40,000 or 2.4 percent compared to net income of $1.683 million in the same period last year. Consolidated revenues were $31.326 million, an increase of $2.736 million or 9.7 percent.
Transportation segment revenues were $25.449 million, an increase of $2.413 million. Revenue miles were up 6.4 percent due to business growth and a longer average haul length. Fuel surcharge revenue increased $642,000.
Net income for the first six months of fiscal 2012 was $3.767 million, a decrease of $4.311 million or 53.3 percent compared to net income of $8.078 million for the same period last year. Consolidated revenues were $61.685 million, an increase of $4.832 million or 8.5 percent.
Transportation segment revenues were $50.29 million, an increase of $4.263 million. Revenue miles were up 4.1 percent due to business growth and a longer average haul length. Fuel surcharge revenue increased $1.8 million.
The Jacksonville, Fla.-based company said it continues to succeed in adding drivers and customers and anticipates increasing Transportation segment miles during fiscal 2012.
