February 24, 2011 / 10:01 PM / 7 years ago

UPDATE 1-TransForce Q4 tops estimates

* Q4 adj EPS C$0.22 vs est C$0.20

* Q4 rev C$539.7 mln vs est C$535.2 mln

Feb 24 (Reuters) - North American trucker TransForce Inc posted a quarterly profit that beat analysts’ expectations, helped by higher revenue at its package delivery and specialized services segments.

October-December profit was C$35.6 million ($36.2 million), or 37 Canadian cents a share, compared with a loss of C$27.2 million, or 29 Canadian cents a share, a year ago.

On an adjusted basis, TransForce earned 22 Canadian cents a share, below analysts’ estimates of 20 Canadian cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 10 percent to C$539.7 million, ahead of consensus of C$535.2 million.

Package delivery segment revenue rose 25 percent, while specialized services segment revenue increased 27 percent.

However, revenue at its main truckload (TL) segment was flat and less-than-truckload (LTL) unit revenue fell 6 percent.

As the economic slowdown curbed shipment volumes at its TL and LTL segments, TransForce had cut costs and steered towards higher-margin segments like package and courier delivery, and waste management and oilfield services.

Earlier in the day, peer Mullen Group posted a nearly threefold rise in its quarterly profit.

Quebec-based TransForce’s shares closed at C$12.70 on Thursday on the Toronto Stock Exchange.

$1 = 0.983 Canadian Dollars Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel

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