Express-1 Expedited Solutions Inc. said third-quarter revenue from continuing operations increased by 70 percent to $44.4 million compared to $26.2 million in the third quarter of 2009. Year-to-date revenues also increased by 70 percent to $116.4 million compared to $68.5 million in the initial nine months of 2009.
For the quarter, net income improved by $919,000 to $1.7 million compared to income of $811,000 in the third quarter of 2009. Year-to-date net income improved by $3.0 million to $4.1 million compared to net income of $1.1 million in the comparable period in 2009.
“2010 continues to be a breakout year for Express-1 Expedited Solutions, and I couldn’t be happier about our strong financial results in what we consider very unsure economic times,” said Mike Welch, chief executive officer of the St. Joseph, Mich.-based company. “We continue to believe that we are well positioned as we look to the immediate future. Again, I would like to thank our employees for their leadership and hard work as we continue to proactively meet and respond to the challenges in our industry.”
