AutoInfo, Inc. is a transportation services company that operates in two business segments. The first segment is non-asset based transportation services which includes its brokerage and contract carrier services which are provided through a network of independent sales agents throughout North America. The second segment is agent support services which includes an array of services that the company provides to its agent network.
The company today announced the results of its operations for the quarter and six months ended June 30, 2011. For the second quarter, AutoInfo reported gross revenues of $87 million versus $69.6 million in the year ago period. Income from operations was $1.6 million as compared with $1.4 million for the same period in 2010. Net income was $905,000 and basic earnings per share were $0.03 a share this year as compared with $728,000 and $0.02 a share in 2010’s second quarter.
For the six months ended June 30, 2011 AutoInfo reported gross revenues of $162.4 million versus $126.5 million in the year ago period. Income from operations was $2.8 million as compared with $2.2 million in the prior year period. Net income was $1.565 million and basic earnings per share were $0.05 a share this year as compared with $1.153 million and $0.03 a share in the 2010 period.
AutoInfo attributes the increase in its financial results to the company’s efforts to broaden its service lines and expand its agent network. The company’s president, Harry Wachtel, stated that AutoInfo will “continue to focus on opportunities through both intrinsic and external growth.”
For additional information on AutoInfo, please the company’s website at www.suntecktransport.com
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