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TORONTO, Feb 8 (Reuters) - Vitran Corp VTN.TO reported a lower fourth-quarter profit on Friday hurt by a slumping North American economy.
The Canadian transportation company reported earnings of $1.7 million, or 12 cents a share for the quarter ended Dec. 30, down from $5 million, or 37 cents a share for the same time in 2006.
Revenue for the quarter was $174.3 million, up 13.3 percent from $153.8 million for the same time in 2006.
Analysts were expecting an average of 24 cents a share and revenue of $165.9 million.
“As expected, the fourth quarter of 2007 marked another challenging period for Vitran and the entire North American trucking industry, as margins continued to experience downward pressure as a result of the soft economic environment,” Vitran President and chief executive Rick Gaetz said in a release.
$1=$1.00 Canadian Reporting by Scott Anderson; Editing by Renato Andrade