11:57 AM EST - TransForce Inc. : reported a decline in profit for the second quarter, despite a 9% increase in revenues. The company's net income and comprehensive income was $17.08 million, down from $17.98 million last year. On a per-share basis, earnings dropped to $0.18 from $0.21 in the prior-year period. On an adjusted basis, earnings more than doubled to $23.3 million or $0.24 per share from $11.3 million in the second quarter of 2009. Adjusted earnings per share increased to $0.24 from $0.13 a year ago. The adjustment reflects changes in the fair value of derivatives. Quarterly revenues grew 9% to $496.9 million from $454.2 million recorded in the previous year. Excluding fuel surcharge, revenues increased 7% to $455.9 million from $424.8 million a year ago. TransForce Inc.
shares T.TFI are trading up $0.71 at $10.04.
