US 1 reports higher 1Q net income, lower revenue

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US 1 Industries announced Wednesday, May 14, the results for its first quarter ended March 31. First-quarter revenue decreased $4.2 million to $41.7 million from $45.9 million for the same period in 2007.

The company’s first-quarter operating expenses decreased from 98.3 percent of revenue to 97.5 percent of revenue. The Valparaiso, Ind.-based company said the 0.8 percent decrease is attributable to a decrease in its purchased transportation and commissions in total, a decrease in insurance and claims, and a decrease in other operating expenses.

The company’s first-quarter operating income increased from $0.8 million in the 2007 quarter to $1.1 million. The company’s first-quarter net income increased $318,984 from $370,746 in the 2007 quarter to $689,730.

US 1, through its subsidiaries, operates primarily as a nonasset-based service provider to independent businesses operating in the trucking and logistics industries.