Universal Truckload Services has reported net income of $4.7 million on revenue of $147.2 million for the fourth quarter of 2005, which ended Dec. 31. That compares with $3.5 million on revenue of $114.1 million for the same period last year.
For the year, the Warren, Mich.-based logistics manager recorded net income of $17.2 million on revenue of $531.3 million, compared with $11.1 million on revenue of $362 million in 2004.
Don Cochran, Universal’s chief executive officer, attributes the gains to big increases in truckload, brokerage and intermodal revenue. “We are pleased with our continued path of record performance,” Cochran says. “The contributions of our strategic acquisitions have further complemented that performance.”
Two companies acquired in August and November 2004 also contributed $4.1 million in net income during 2005, the company said. Manuel Moroun and his son, Matthew, who is chairman of Universal, have a 65 percent controlling stake in the company. Manuel Moroun also owns trucking company CenTra Inc.