AutoInfo announces higher 2Q net income

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Auto Info

AutoInfo Inc., a nonasset-based transportation services company, on Wednesday, Aug. 11, reported gross revenues for the six-month period ended June 30 of $126.5 million as compared with $79.4 million for the prior-year period. Gross profits were $24.0 million as compared with $16.5 million. Net income was $1.153 million as compared with $608,000.

For the three-month period ended June 30, the company reported gross revenues of $69.6 million as compared with $44.1 million for the prior-year period. Gross profits were $13.1 million as compared with $8.7 million. Net income was $728,000 as compared with $390,000.

“As the economic recovery continues, we expect to continue to expand our agent network and broaden our transportation and logistic service lines as well as seek out other strategic growth opportunities,” said Harry Wachtel, president of the Boca Raton, Fla.-based company.