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After a long, bumpy ride, Quality Distribution turned a financial corner in 2005. The nation's largest tank truck carrier reported a net profit for the full year--the first time it has done so since 1997--as well as record revenue and a profit for the fourth quarter.
The carrier's net income for 2005 was $11.9 million, reversing a net loss of $10.7 million in 2004. Revenue for the year increased 9 percent to $678.1 million.
Quality improved its financials despite a slight drop in miles driven and loads in 2005, thanks in part to its ability to extract higher rates and fuel surcharges from shippers. On average, Quality increased prices 5.7 percent last year.
Roughly 60 percent …