Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: TSX, NASDAQ
Sector: Transportation
Epic: TSX:VTN
News: Latest news
Web Site: Vitran Corporation
Other Articles:

RSS - Subscribe to the News Today on Proactive UK ▼

Monday March 15, 11:21Diamondcorp: a big cash injection and a lot of work to do

70% of the new money was raised from current shareholders, reflecting a hefty amount of faith in the management to deliver.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Sunday March 14, 05:46China's growth boosting commodity prices

With chunky economic numbers from China boosting commodity prices we take a brief look at the country's position in different market places - while noting also that hopes for a recovery in global trade appear to be borne out by freight rates.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

FULL ARTICLE ►
Vitran Corporation

Vitran Corporation

Vitran Corporation is a North American group of transportation companies offering less-than-truckload, logistics, truckload, and freight brokerage services.

Monday, February 08, 2010

Vitran Corporation reports improved momentum in U.S. daily shipments and tonnage

company news image

Transport and logistics group, Vitran Corporation Inc. (NASDAQ: VTNC, TSX: VTN) reported year-end and quarterly financial results for the twelve (FY 2009) and three-month periods (Q4 2009) ended December 31, 2009.


Q4 2009 revenues hit US$165 million, 7% higher than Q4 2008 ($154.2 million), but the company still reported a net loss of $2.3 million, or 14 cents per diluted share.  In the comparable period in 2008, the company reported a $79 million net loss ($5.85 per share), which was largely due to a one-off impairment charge. Omitting the impairment charge, the Q4 2009 net loss was still an improvement on a Q4 2009 net loss of $3.2 million, or 23 cents per share.


"The fourth quarter of 2009 was the first quarter in several quarters where financial and operating metrics improved over the prior year. We are very pleased with the sales momentum in our U.S. LTL business unit as our daily shipment count and daily tonnage exceeded the fourth quarter of 2008. Within our new amalgamated U.S. LTL business unit, our sales initiatives are working as evidenced by the 22.5% increase in length of haul for the year.

All these improvements were offset by the persistence of a poor pricing environment in the fourth quarter.

Notwithstanding, we feel that our positive activity trends position our LTL segment for success when the pricing environment begins to change," stated Vitran President and Chief Executive Officer Rick Gaetz.


FY 2009 revenues came in at $629.3 million, down from $726.3 million in FY 2008.  The company also reported a FY 2009 net loss of $4 million, or 28 cents per share, down considerably from the previous year.  Group debt fell below $100 million, which in turn reduced debt margins by 50 basis points.


Vitran’s LTL (less-than-truckload) business was the weaker performer, posting a fourth quarter loss on operations of $2.6 million, though this was an improvement on 2008.  The company’s Supply Chain Operation performed considerably better, posting a 15% increase in revenues and operating income of $1.9 million. Vitran’s Truckload segment had a modest increase in revenue of 3.9%.

AddThis Feed Button
Register here to be notified of future Vitran Corporation articles.


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.