MONTREAL, Que. — TransForce Income Fund has announced strong results in all key measures for the three months ended March 31, 2006.
TransForce increased total revenues to $438.2 million, in the first quarter of 2006, up 36.6 per cent from the $320.8 million reported a year earlier.
TransForce also completed the acquisitions of three oilfield services transportation companies in the first quarter: Kos Corp. Oilfield Transportation of Drayton Valley, Alta.; Streeper Contracting of Fort Nelson, B.C.; and Hemphill Trucking of Rock Springs, Wy.
In addition, in February, 2006, TransForce completed a public offering of 8.25 million fund units for net proceeds of $143.8 million.
Alain Bdard, president and CEO of Transforce, said he was encouraged by the strong numbers, especially since first quarter figures are traditionally the weakest all year.
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