Cudahy-based transportation and logistics provider Roadrunner Transportation Systems Inc. today reported first quarter net income of $10.58 million, or 29 cents per diluted share, up 33.4 percent from $7.93 million, or 25 cents per diluted share, for the first quarter of 2012.
The company had record revenues for the quarter of $299.38 million, up 26.5 percent from $236.57 million in the first quarter of 2012.
“We achieved record revenues and operating income ($19.1 million) in the first quarter of 2013,” said Mark DiBlasi, president and chief executive officer of Roadrunner. “These records were achieved in the lowest seasonal quarter of the year and in a quarter with fewer business days than normal. Our continued initiatives to expand into new geographic regions, build density, improve pricing, and enhance productivity… resulted in a net revenue margin improvement from 25.8 percent in the first quarter of 2012 to 28.5 percent in the first quarter of 2013. We are pleased with the first quarter operating ratio, despite experiencing load inefficiencies due to the inclement weather.”
For the second quarter, the company expects revenues in the range of $315 million to $340 million, representing an increase of 20-30 percent from the second quarter of 2012, said chief financial officer Peter Armbruster.