New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Business News and Headlines
SEC Filings, Earing Reports, Press Releases
New Topic Search
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicSearchLog In
Vitran Corp. Inc. Reports Operating Results (10-K)
Posted by: gurufocus (IP Logged)
Date: February 9, 2012 04:57PM

Vitran Corp. Inc. (VTNC) filed Annual Report for the period ended 2011-12-31. Vitran Corp. Inc. has a market cap of $115.7 million; its shares were traded at around $7.29 with and P/S ratio of 0.2.



Highlight of Business Operations:

Revenue increased by 19.8% to $805.6 million in 2011 from $672.6 million in 2010. Revenue in the LTL and SCO segments increased 18.0% and 31.2% respectively. Revenue for the 2011 year was impacted by a stronger Canadian dollar and an increase in fuel surcharge revenue accounting for approximately $50.9 million of the consolidated revenue improvement. Excluding the impact of fuel surcharge revenue and a stronger Canadian dollar, 2011 revenue compared to 2010 improved 12.2%. Detailed explanations for the fluctuations in revenue and income from operations are discussed below and in “Segmented Results”.

Revenue in the LTL segment increased by 18.0% to $686.2 million in 2011 compared to $581.6 million in 2010. The increase in revenue was influenced by fuel surcharge which represented 16.6% of revenue in 2011 compared to 12.5 % in 2010. Therefore, revenue net of fuel surcharge for 2011 increased 12.5% compared to 2010. Revenue net of fuel surcharge was impacted by the additional business from the Milan acquisition on February 19, 2011 as indicated by the increase in shipments and tonnage of 8.8% and 9.1% respectively compared to 2010. The aforementioned loss of $2.1 million related to the real estate was recorded in loss from operations within the LTL segment.

Revenue for the SCO segment increased by 31.2% to $119.4 million compared to $91.0 million in 2010. The SCO segment posted record income from operations of $10.3 million, a 48.8% increase over 2010. The increase in income from operations for 2011 can be attributed to a full year of activity from two dedicated facilities in New Mexico and Utah which were added in 2010. In addition, the SCO segment also added a new dedicated facility in Sacramento, California at the end of the 2011 third quarter. As at December 31, 2011, the SCO segment had approximately 2.0 million square feet under management. Furthermore, the SCO segment participated in its first consulting contract during 2011 and recorded $0.3 million of consulting revenue. Management expects to open two to three additional supply chain solution facilities in the next twelve months. These results represented a record year for the SCO segment and should the current trend in activity levels persist, results in the upcoming year should exceed the previous year’s results.

Revenue increased by 13.0% to $672.6 million in 2010 from $595.3 million in 2009. Revenue in the LTL and SCO segments increased 12.0% and 19.5% respectively. Revenue for the 2010 year was impacted by a stronger Canadian dollar and an increase in fuel surcharge revenue accounting for approximately $35.4 million of the consolidated revenue improvement. Excluding the impact of fuel surcharge revenue and a stronger Canadian dollar, 2010 revenue compared to 2009 improved 7.0%. Detailed explanations for the fluctuations in revenue and income from operations are discussed below and in “Segmented Results”.

Revenue in the LTL segment increased by 12.0% to $581.6 million in 2010 compared to $519.2 million in 2009. The increase in revenue was influenced by fuel surcharge which represented 12.5% of revenue in 2010 compared to 10.2% in 2009. Therefore, revenue net of fuel surcharge for 2010 increased 9.1% compared to 2009. Revenue was impacted by a slight improvement in the North American economic environment and more importantly improved pricing in the LTL segment as indicated by the increase in shipments of 6.5% and increase in revenue per hundred weight of 4.9%.

Read the The complete Report



Stocks Discussed: VTNC,
Rate this post:




Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't




Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial