Million dollar club members drop

OTTAWA, (May 31, 2004) — The number of Canadian for-hire carriers with annual revenues of $1 million or more in the fourth quarter of 2003 fell to 2,736, from 2,855 carriers during the same period in 2002, Statistics Canada reports.

Operating revenues totalled $5.31 billion and operating expenses reached $4.99 billion, up 3.1 per cent and 3.3 per cent respectively from the fourth quarter of 2002.

Average expenses were at $1.82 million compared with $1.69 million in the same period in 2002. The increase in expenses was driven by higher purchased transportation and other expenses combined with smaller increases in salaries and wages, as well as payments to owners and operators. However, average costs per carrier were lower for depreciation (-16.6 per cent) and fuel (-4.5 per cent).

For-hire trucking transportation revenues from domestic movements increased by 13.2 per cent to $3.44 billion from $3.04 billion one year ago. Revenues from international movements on the opposite were down by 13.2 per cent, with inbound movements down by almost 21 per cent.

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