Echo Global Logistics first quarter net up 55%

Echo Global Logistics reported net revenue increased 55 percent in the first quarter ending March 31 to US$17 million compared to $11 million in the first quarter of 2009.

This increase was driven by growth in total revenue, partially offset by lower margins due to tightening truckload capacity and an increase in truckload revenue as a percentage of total revenue.

Truckload revenue represented 38 percent of total revenue in the first quarter of 2010 as compared to 30 percent in the prior year period. The Company's truckload revenue generally has lower net revenue margins when compared to LTL revenue.

Total revenue of $89.1 million in the first quarter up 82 percent compared to revenue of $49.1 million in the first quarter of 2009.

The Company's shipment volume increased 83 percent in the first quarter of 2010 compared to the first quarter of 2009.

Source: Cargo News Asia