US 1 revenues up sharply in second quarter

Us 1 Industries

US 1 Industries – a Valparaiso, Ind.-based company that owns and supports separate, primarily non-asset, trucking companies around the United States – said its revenues of $52.6 million for the quarter ended June 30 were 16.9 percent higher than the same 2009 quarter. Net income was $500,000 – an improvement over the $300,000 profit posted in the second quarter last year.

Purchased transportation and commission expenses were slightly higher as a percentage of revenue as a result of increased brokerage activity at one of the company’s operations. The salaries expense dropped to 5.9 percent from 9 percent in the second quarter of 2009 primarily as a result of subsidiaries that have closed offices and restructured workloads in order to cut costs.