TST acquisition helps TransForce double sales
SAINT-LAURENT, Que. (Nov. 13, 2000) — TransForce Inc. reported revenue of $111 million for the second quarter of its fiscal 2000-2001, nearly double the same period last year.
The increase is mainly due to the contribution by TST Solutions and its five divisions, acquired at the end of the last quarter of fiscal 1999-2000.
Second-quarter earnings before interest on long-term debt, taxes, depreciation, and amortization (EBITDA) were $17.7 million, or $0.47 per share, 73% higher than the EBITDA of $10.2 million, or $0.33 per share generated during the same period a year ago.
Net earnings fell, however, to $3.25 million or 8 cents per share from $3.27 million or 10 cents per share a year earlier. The company said higher taxes account for the fact that net earnings were lower while earnings before income taxes were higher.
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