Express-1 reports higher 2Q profit

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Express 1

Express-1 Expedited Solutions Inc. on Wednesday, Aug. 11, said revenue from continuing operations in the second quarter of 2010 increased by 81 percent to $40.3 million compared to $22.2 million in the second quarter of 2009. Additionally, year-over-year revenues increased by 70.1 percent to $72.0 million compared to $42.3 million in the initial six months of 2009.

For the quarter, net income improved by $1.2 million to $1.5 million compared to income of $288,000. Year-to-date net income improved by $2.0 million to $2.3 million compared to net income of $293,000 in the comparable period in 2009.

“I am extremely pleased with our second quarter results,” said Mike Welch, chief executive officer of the St. Joseph, Mich.-based company. “This is a great accomplishment for our team who has been instrumental in delivering quality solutions to our customers. Obviously, we are very excited about the remainder of the year and look forward to a strong finish in the second half of 2010.”