Power2Ship reports 2Q sales of $8 million

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Power2Ship — provider of a Web-based collaborative logistics marketplace for the freight transportation industry and related Homeland Security programs — estimates that its gross revenue will be $8.0 million for the quarter ended Dec. 31, 2005.

The company says those results for its second fiscal quarter of 2006 represent an increase of about $7.26 million from $0.74 million during the same quarter of 2005. This brings the total for the first six months of fiscal year 2006 to about $16.2 million, versus $1.5 million for the same period in fiscal year 2005, Power2Ship reported.

“The growth in fiscal year 2006 largely has resulted from the acquisitions we made in March 2005 as well as strong internal growth from our P2S MobileMarket,” says Richard Hersh, chairman and chief executive officer of Boca Raton, Fla.-based Power2Ship. “Our growth leveled off in the December quarter due to the impact of hurricanes Katrina and Wilma and the customary slowdown around the holidays. We anticipate growth to pick up this quarter as normal activity resumes.”