Vitran loss falls to $2.3 million, sales rise to $165 million

The Canadian Press ~ The News
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TORONTO - Vitran Corp. Inc. (TSX:VTN) reduced its fourth-quarter loss to $2.3-million and increased its revenue by about seven per cent over year-earlier period, the transportation and supply-chain firm announced Monday.
Vitran's revenue rose to $165 million in the three months ended Dec. 31 - up from $154.2 million revenue a year earlier.
Its net loss in the fourth quarter of 2008 was $79 million, mainly because of an accounting charge reflecting an impairment of goodwill. Excluding that, the year-earlier loss was $3.2 million.
On a per-share basis, Vitran's net loss was 14 cents in the most recent quarter, compared with $5.85 a year earlier including the goodwill impairment and 23 cents per share if the impairment was exclused.
"The fourth quarter of 2009 was the first quarter in several quarters where financial and operating metrics improved over the prior year," said Rick Gaetz, Vitran's president and chief executive officer.

Organizations: Vitran Corp. Inc., TSX

Geographic location: TORONTO

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