US 1 Industries posts higher 1Q net income

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Us 1 Industries

US 1 Industries Inc. on Monday, May 16, announced that operating revenues for its first quarter ended March 31 increased by $5.0 million to $52.5 million from $47.5 million for the same period in 2010. The Valparaiso, Ind.-based company said the 10.5 percent increase is attributable primarily to an increase in load activity as a result of the recovery in the economy.

Based on the changes in revenue and expenses, operating income decreased $0.01 million from 2010 to 2011. The company had operating income of 1.5 percent of operating revenues compared to 1.8 percent. Net income 1 was $0.2 million compared to $0.1 million.