AutoInfo posts higher 2Q profit

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Autoinfo

AutoInfo Inc., a nonasset-based transportation services company, announced results of its operations for the quarter and six months ended June 30. For the six-month period, the company reported gross revenues of $131.0 million as compared with $162.4 million for the prior-year period. Income from operations was $3.3 million as compared with $2.8 million. Net income was $1.915 million as compared with $1.565 million.

For the three-month period, the company reported gross revenues of $69.2 million as compared with $87.0 million for the prior-year period. Income from operations was $1.9 million as compared with $1.6 million. Net income was $1.085 million as compared with $905,000.

“We are pleased to report second quarter and six month results reflecting our financial strength and continued growth,” said Harry Wachtel, chief executive officer of the Boca Raton, Fla.-based company. “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.”