11:32 AM EST - Vitran Corporation, Inc. : reported a sharp decline in net income for the second quarter, hurt mainly by lower revenue due to fluctuation in fuel surcharge and foreign exchange on Canadian operations. On a per-share basis, earnings topped analysts' estimate by two pennies. For the quarter, net income was $440,000 U.S. or $0.03 U.S. per share, lower than $4.58 million U.S. or $0.34 U.S. per share last year. On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.01 U.S. per share for the quarter. Quarterly revenue decreased to $158.7 million U.S. from $196 million U.S. last year. Analysts expected revenues of $156.50 million U.S. for the quarter. The company noted that consolidated revenue declined 5.6% adjusting for the change in fuel surcharge and foreign exchange rates on Canadian-dollar-denominated revenue. Vitran Corporation, Inc.
shares T.VTN are trading up $0.26 at $10.86.
