AutoInfo Inc., a nonasset-based third-party logistics service provider, on Friday, Nov. 5, announced results of its operations for the quarter and nine months ended Sept. 30. For the quarter, the company reported gross revenues of $73.9 million as compared with $49.2 million for the same prior-year period. Gross profits were $14.4 million as compared with $9.3 million. Net income was $833,000 as compared with $358,000.
For the nine months, the company reported gross revenues of $200.4 million as compared with $128.6 million for the same prior-year period. Gross profits were $38.3 million as compared with $25.8 million. Net income was $1,985,000 as compared with $966,000.
“As we approach the end of 2010, we are pleased to report strong results as we continue to recover from the economic downturn,” said Harry Wachtel, president of AutoInfo, based in Boca Raton, Fla. “In 2010, we have broadened our service lines and expanded our agent network as we have focused on both intrinsic and external growth. As we look to the future, we expect to continue to build on our core strengths and seek out strategic growth opportunities.”