COMPETITION WATCH: TransForce announces steady first quarter growth

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MONTREAL, Que. — TransForce Income Fund has announced continued growth in its financial results for the first quarter ended Mar. 31.

TransForce increased quarterly revenues by 7% to $464.8 million compared with $433.8 million in the same period a year earlier. EBITDA (earnings before interest, taxes, depreciation and amortization and equivalent to operating income on TransForces financial statements) was $52.7 million for the quarter, an increase of 7% from the $49.1 million reported for the first quarter of fiscal 2006.

Cash flow from operating activities, before net change in non-cash working capital balances, was $45 million in the first quarter, compared with $41 million in the first quarter of 2006.

The first quarter is traditionally slower than the balance of the year and I am pleased that we were able to improve our year-over-year results in key areas in the latest quarter, said Alain Bdard, president and CEO of TransForce.

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