Roadrunner Transportation Systems Inc. today reported fourth quarter net income of $9.5 million, or 29 cents per share, up from $6.9 million, or 22 cents per share, in the same period a year ago.
The Cudahy-based company’s quarterly revenues climbed to $295.1 million from $238.0 million a year earlier.
Mark DiBlasi, president and CEO of Roadrunner, said, “Strong performance across all of our business segments generated fourth quarter revenue growth of 24.0 percent and net revenue growth of 29.5 percent. Due to sales and operational initiatives, our operating income growth of 33.6 percent outpaced revenue. Our operating ratio improved 40 basis points to 94.0 percent compared to 94.4 percent in the fourth quarter of 2011, despite additional costs incurred related to Hurricane Sandy. The impact of additional shares related to our December common stock offering, lost revenue and additional costs incurred related to Hurricane Sandy, and transaction costs related to the fourth quarter acquisitions of Central Cal Transportation (Central Cal), A&A Express (A&A) and Direct Connection Transportation (DCT) negatively impacted our fourth quarter diluted earnings per share by approximately 2 cents.”
For the full year, the company’s total revenue climbed 27.2 percent to $1.1 billion from $843.6 million in 2011. The revenue growth was a combination of both organic- and acquisition-related growth.
