MONTREAL, Que. — TransForce Income Fund posted strong fourth quarter results, as well as new records for 2006.
Transforce increased revenues by 9% in the fourth quarter to $456.8 million compared with $418.8 million a year earlier. EBITDA (earnings before interest, taxes, depreciation and amortization and equivalent to operating income on TransForce’s financial statements) was $65.8 million for the quarter, an increase of 12% from the $59 million reported for the fourth quarter of fiscal 2005.
“The fourth quarter of 2006 saw TransForce add to our current capabilities with new acquisitions, while increasing our focus by divesting a non-core part of our business,” said TransForce president and CEO, Alain Bdard, attributed the increase in fourth quarter revenue to the companys significant acquisitions and continued strong results from existing subsidiaries.
For all of 2006, TransForce increased revenues to a record $1.8 billion, up 21% from $1.5 billion in 2005. EBITDA for the year was also a record at $241.7 million, a 24% increase from $194.6 million the previous year.
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