Patriot posts improved 4Q transportation segment results

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Patriot Transportation

Patriot Transportation Holding on Wednesday, Nov. 30, reported net income of $1.754 million in the fourth quarter of fiscal 2011, a decrease of $240,000 or 12.0 percent compared to net income of $1.994 million in the same period last year. Net income for the fiscal year ended Sept. 30 was $12.211 million, an increase of $4.840 million or 65.7 percent compared to net income of $7.371 million in fiscal 2010.

For the fourth quarter of fiscal 2011, consolidated revenues were $31.306 million, an increase of $3.336 million or 11.9 percent over the same quarter last year. Transportation segment revenues were $25.592 million, an increase of $2.758 million. Revenue miles were up 4.3 percent due to business growth and a longer average haul length.

For the fiscal year 2011, consolidated revenues were $120.106 million, an increase of $8.768 million or 7.9 percent over the same period last year. Transportation revenues were $97.801 million, an increase of $8.164 million. Revenue miles were up 4.6 percent due to business growth and a longer average haul length.

The Jacksonville, Fla.-based company, which also deals in real estate, said it continues to succeed in adding drivers and customers and anticipates increasing segment miles again in fiscal 2012.