MONTREAL — TransForce Inc. announced today that their total revenue grew 34 percent to $2.7 billion in 2011 — up from 2010’s $2 billion.

The increase was primarily driven by acquisitions, Transforce said, noting that total revenue excluding those acquisitions came in at 4 percent.

Transforce said that Earnings Before Interest and Taxes (EBIT) rose 29 percent to $186.4 million, up from 2010’s $144.2 million.

"In the fourth quarter, profitability improved largely due to improved operating efficiencies and enhanced asset utilization, although a hesitant economy caused overall volume to decline slightly," said Alain Bédard, chairman, president and CEO of TransForce.

Bedard noted that in Package and Courier, advances were made in the performance of Loomis Express, which reduced its loss. "We continue to implement cost reduction measures to further enhance profitability, he added.

EBIT for Less-Than-Truckload operations also rose, Bedard said. And while capacity optimization initiatives had a positive effect on Truckload profitability, "revenue was affected by temporary volume decreases in the fourth quarter."

"Finally, services to the energy sector posted strong results driven by greater density and the acquisition of IE Miller," Bedard concluded.

Bedard said that Transforce is expecting 2012’s economic environment to resemble 2011 with conditions continuing to improve, but at a measured pace.

"While even this moderate recovery should strengthen our results," Bedard said, "further improvements in efficiencies and the leveraging of our enhanced density will build additional shareholder value.

"We will deliver on this commitment by adhering to our operating principles and by executing our strategy with the same discipline and rigour that have made TransForce a North American leader in the transportation and logistics industry."