US 1 Industries posts higher 3Q net income, lower revenues

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US 1 Industries on Thursday, Nov. 13, announced financial results for its third quarter and nine months ended Sept. 30. Revenues for the third quarter decreased 0.7 percent to $46.0 million compared to $46.3 million for the same period in 2007. The company’s net income was $972,000 compared to $789,000.

For the nine-month period, revenues decreased 5.3 percent to $132.7 million compared with $140.2 million for the same period in 2007. The company’s net income increased to $2.48 million compared to $2.27 million.

US 1, through its subsidiaries, operates primarily as a nonasset-based service provider to independent businesses operating in the trucking and logistics industries. The Valparaiso, Ind.-based company offers financial resources, risk management services, insurance and information technology to small independent business owners, enhancing their ability to compete in the trucking and logistics industry.