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BYLINE: Thomas L. Gallagher
Universal Truckload Services improved its operating margin in the second quarter, relative to the first, but profits were significantly lower than a year ago.
In the quarter ended June 30, revenue increased 11.4 percent year-over-year to $178.2 million, including fuel surcharges of $17.8 million. The increase came primarily from acquisitions made in the third quarter of 2006.
Net income, however, was $4.7 million, a decline of 12.6 percent from a year earlier. The company said an inconsistent freight environment hurt earnings. But the second quarter was better than the first, when profit reached only $3.2 million. …