Cudahy-based Roadrunner Transportation Systems Inc. reported first quarter net income of $10.4 million, or 27 cents per share, down from $10.6 million, or 29 cents per share, in the same period a year ago.
The company’s quarterly revenues grew to $382.0 million from $299.4 millin a year earlier.
Roadrunner’s August 2013 stock offering increased the weighted averaged diluted shares outstanding for the quarter ended March 31 by approximately 1.5 million shares and impacted diluted income per share available to common stockholders by 1 cent from the prior year quarter.
Mark DiBlasi, president and chief executive officer of Roadrunner, said, “We were pleased with our first quarter results given the impact from severe winter weather throughout the quarter. Strong organic and acquisition-related revenue growth led to a 27.6 percent increase in 2014 first quarter revenues. Our first quarter operating income, excluding acquisition transaction expenses of $0.4 million, improved 2.5 percent over the prior year quarter to $19.6 million. Our first quarter EBITDA improved 6.6 percent over the prior year quarter to $24.0 million.”
Commenting on guidance for the second quarter, Peter Armbruster, chief financial officer of Roadrunner, said, “We anticipate our revenues for the second quarter to be in the range of $420 million to $445 million, representing an increase of 27 percent to 34 percent from the second quarter of 2013. We expect diluted income per share available to common stockholders to be between 37 and 41 cents, compared to diluted income per share available to common stockholders of 37 cents in the prior year quarter.”