Today was nothing more than a short squeeze that kicked in the automatic trading programs.

The real news was in the reporting of several companies that move goods across America…..

1) - Supply chain technology firm Intermec Inc. said its fourth-quarter net earnings were $5 million, or 8 cents per share, compared with $9.3 million, or 15 cents, a year ago.

2) - Transportation software firm Xata Corp. said it lost $1.7 million, or 20 cent per share, in its fiscal first quarter, compared with a loss of $672,000, or 8 cents, a year ago.

3) - Vitran Corp. lost $2.3 million or 14 cents a share, in the fourth quarter, for the full year, the company lost $4 million, or 28 cents a share. Revenue slipped to $629.3 million, from $726.3 million.

4) - P.A.M. Transportation Services reported a fourth-quarter loss of $3.9 million, or 42 cents per share, compared with a loss of $11.4 million, or $1.19, a year earlier. Revenue for the quarter fell 3.7% to $80.9 million, the truckload carrier and logistics firm said Monday.The company cited a $4.2 million write down on a group of tractors, a big workers’ compensation claim and reduction in fuel surcharges as contributing factors to the loss.

I’m sure you guys get the point here. You can’t hardly run a trucking company for a year and lose money. Now the transportation industry has entered it’s second “money losing year”…. I think we will see more consolidation which will make it appear that some companies are doing more business while the true picture is that less and less goods are being transported in America. The politicians state this is a jobless recovery. It will be hard to have a “transportationless” recovery to boot !!!

- HoboHilton

Related Posts:

• AIG up 60%. FRE and FNM up 30%. CIT up 40%.
• Who cares whether Democrats or Republicans Win?
• Spin it how you want but a loss is still a loss.
• Anyone else see the news about the trucking industry?
• This entire 6 months has reminded me of a complex that was born in the Clinton Administration.

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