Mullen releases third quarter results

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ALDERSYDE, Alta. – Mullen Transportation has released its third quarter results, reporting revenues were down right across the board.

Consolidated revenues were down 22.2 per cent over the same period last year while profitability was down as well. Net income was 46.2 per cent less than last year.

Even the company’s oilfield services segment took a hit, with a revenue decline of 33.4 per cent during the third quarter, compared to the third quarter of 2001. The company attributes this to lower oil and gas drilling levels in Western Canada.

Meanwhile, the trucking segment experienced a revenue decline of 14 per cent with operating income sliding 24.2 per cent in this area. There is reason for optimism, however, with this segment of the company recording increased revenue and operating income over the second quarter.

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