TORONTO, Ont. - Canadian provider of freight transportation and logistics services, Clarke Inc., has announced results for its first fiscal quarter ending June 30.Revenue increased 26 per cent, which ...
TORONTO, Ont. – Canadian provider of freight transportation and logistics services, Clarke Inc., has announced results for its first fiscal quarter ending June 30.
Revenue increased 26 per cent, which the company says reflects higher volumes in the U.S. market primarily from four U.S. businesses acquired by Clarke Logistics in the fourth quarter of fiscal 2001.
Despite this good news, net income decreased 43.8 per cent. The firm blames the reduced contribution from Concord, as well as its continuing investment in technology to support long-term growth, for the poor result.
Consolidated operating expenses increased 29.9 per cent.
“While the reduced contribution from Concord will continue to affect our bottom line through fiscal 2002, we have taken decisive action to improve the division’s operating performance over the long term,” explains Roy Rideout, chairman and chief executive officer. n
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