Echo Global Logistics Inc. on Thursday, Oct. 27, reported record gross revenue of $159.0 million in the third quarter of 2011 ended Sept 30, an increase of 40 percent compared to revenue of $113.5 million in the third quarter of 2010. Non-GAAP operating income was a record $5.3 million, an increase of 76 percent compared to non-GAAP operating income of $3.0 million. Non-GAAP net income was a record $3.3 million, an increase of 80 percent compared to non-GAAP net income of $1.8 million.
“Echo delivered another strong quarter of revenue growth and improved profitability,” said Doug Waggoner, chief executive officer of the Chicago-based company. “We remain extremely confident in our ability to continue to gain market share by leveraging our investments in sales people and our technology. We are excited about our ability to deliver transportation solutions to our clients that offer significant value through cost savings, automation and efficiency, access to transportation capacity, and supply chain optimization.”