US 1 rebounds from 2009 4Q, full-year losses

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US 1 Industries Inc. on Thursday, March 31, announced the results for its fourth quarter and fiscal year ended Dec 31, 2010. Operating revenues for the 2010 fiscal year were $211 million, an increase of $31.0 million, or 17.3 percent, from operating revenue for the 2009 fiscal year. Operating revenues for the three months increased 14.8 percent to $54.3 million compared to $47.3 million for the same period in 2009.

Operating income increased $6.7 million from 2009 to 2010. For the year, the Valparaiso, Ind.-based company had operating income of 2.6 percent of operating revenues compared to an operating loss of 0.7 percent of operating revenues. Fourth-quarter operating results derived from operations increased $2.3 million to operating income of $1.2 million compared to an operating loss of $1.1 million.

The company had net income for the fourth quarter of $0.3 million compared to a loss of $2.1 million. For the year, the company had net income of $1.8 million compared to a net loss of $2.6 million.