COMPETITION WATCH: Trimac posts record Q3 revenue

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CALGARY, Alta. — Trimac enjoyed record Q3 revenues for the period ending Sept. 30, 2012.

Revenue was up 9.4% year-over-year to $85 million on the quarter, excluding fuel surcharges.

The company’s adjusted net income was $5 million, up 22% from $4.1 million the same period in 2011.

For the nine-month period ending Sept. 30, net income was $9.2 million, 33.3% higher than the $6.9 million posted in the same period of 2011.

Most of the increased revenue resulted from the bulk trucking segment, thanks to increased volumes with existing customers, new business awards and rate increases, the company reported.

Trimac also said it has improved productivity due to continued monitoring of trip standards and a higher quality of revenue also contributed to the improvements.

“We are extremely pleased with our results for the quarter and with how well the integration of our acquisitions and new business awards have occurred,” said Edward V. Malysa, president and CEO of Trimac. “We are looking forward to finishing the balance of 2012 strong, as we ramp up our new business awards and our rate increases take effect during the fourth quarter. In addition, Trimac continues to be committed to recruiting and retention initiatives to support our growth and maintain our competitive advantage as a preferred place to work in the bulk trucking industry.”

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