Quality Distribution Q3 Revenues Slightly Up

Quality Distribution, a provider of bulk transportation and related services, has reported total revenue of $192.2 million for the third quarter of 2007, 1.1% higher than $190 million in the prior-year period.

Income before taxes decreased from $5.9 million for the quarter in 2006 to $3.3 million for the same period this year. For the quarter, net income was $1.4 million, or $0.07 earnings per fully diluted share (EPS), compared with $38 million or $1.94 EPS in the third quarter of 2006.

Total revenue for the nine months ended September 30, 2007 increased 1.1% to $565 million from $559.1 million last year. Net income for the period was $3.5 million or $0.18 EPS, compared with $48 million or $2.46 EPS last year.

President and CEO Gary Enzor stated: “Despite today’s tough economic environment we grew revenues excluding fuel surcharge by 1.8% and reduced our net debt by $8.1 million. Although we are disappointed with our earnings level during the quarter, we believe we enter 2008 with a much stronger company.”