Market Overview

Universal Truckload Services, Inc. Reports Revenue and Net Income

Universal Truckload Services, Inc. (Nasdaq: UACL) today announced financial results for the thirteen and twenty-six weeks ended July 3, 2010.

For the thirteen weeks ended July 3, 2010, operating revenues increased 28.7%, or $34.4 million, to $154.3 million from $119.9 million for the thirteen weeks ended June 27, 2009. Included in operating revenues are fuel surcharges of $14.6 million and $7.4 million for the thirteen weeks ended July 3, 2010 and June 27, 2009, respectively.

Net income increased by $3.3 million, to $4.6 million, or $0.29 per basic and diluted share for the thirteen weeks ended July 3, 2010, from $1.3 million, or $0.08 per basic and diluted share, for the thirteen weeks ended June 27, 2009. Included in net income for the thirteen weeks ended July 3, 2010 were $2.1 million, or $0.13 per basic and diluted share, of after-tax gains on the sales of marketable securities classified as available for sale. Included in net income for the thirteen weeks ended June 27, 2009 were $0.2 million, or $0.01 per basic and diluted share, of after-tax charges for other-than-temporary impairments of marketable securities classified as available for sale.

Posted-In: Earnings News Markets

 

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