CLARKE’S EARNINGS INCREASE IN THIRD QUARTER

TORONTO, Ont. — Clarke Inc.’s revenue for the third quarter of fiscal 2001, ended Dec. 31, increased 9 per cent to $75.2 million, compared with $69 million for the same period a year earlier.

Operating income decreased to $3.8 million from $5.1 million a year earlier.

Net income was $1.8 million, or 27 cents per share, compared with $2.7 million, or 40 cents per share, for the corresponding period in fiscal 2000.

For the nine months ended Dec. 31, revenue increased 9 per cent to $225.8 million compared with $207.5 million for the same period a year ago.

The earnings of Concord Transportation, the company’s expedited trucking division, declined from the corresponding quarter of last year, chiefly as a result of increased line-haul expenses. The addition of new power equipment to replace expensive short term rentals, as well as the implementation of a new management information system, is expected to improve results in the coming months.

Clarke Transport, the company’s domestic rail freight forwarding division, experienced a decline in earnings for the month of December.

The earnings of Clarke Logistics, the company’s freight management division, were significantly improved for both the quarter and the nine months.

“The industry is showing some softening of demand in the domestic marketplace,” says Roy Rideout, company chairman and chief executive officer.

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