US 1 Industries Inc. on Tuesday, April 14, announced financial results for its fourth quarter and fiscal year ended Dec. 31.
For the fourth quarter, operating revenues decreased 10.2 percent to $39.9 million compared to $44.5 million in the same period in 2007. Operating income derived from operations decreased to $0.5 million compared to $1.3 million. The company had net income of $0.6 million compared to $0.6 million.
For the fiscal year, the company’s operating revenues were $172.7 million, a decrease of $12.0 million, or 6.5 percent, from operating revenue of $184.7 million for the 2007 fiscal year. Net income was $3.1 million compared to $2.9 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.