AutoInfo posts higher annual profit in 2011

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AutoInfo Inc., a nonasset-based third-party logistics service provider, on Thursday, March 22, reported gross revenues of $320.0 million for fiscal year 2011 as compared with $279.7 million for the prior year. Income from operations was $6.4 million as compared with $5.7 million. The Boca Raton, Fla.-based company reported net income of $3.6 million as compared with $3.1 million.

“We have continued to broaden our service lines and expand our agent network as we continue to focus on opportunities through both intrinsic and external growth,” said Harry Wachtel, president. “In July 2011, we acquired the truck agent business unit from a significant agent and have integrated operations. In 2012, we will continue to broaden our transportation service offerings, expand our agent network and pursue strategic growth and other opportunities in furtherance of our mission to enhance stockholder values.”