Universal Truckload Services Inc. Declares Quarterly Cash Dividend, Payable on March 17, 2016; Announces Board Changes; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015
February 26, 2016 at 03:07 am IST
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Universal Truckload Services Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.07 per share of common stock. The dividend is payable to shareholders of record at the close of business on March 7, 2016 and is expected to be paid on March 17, 2016.
The Board of Directors also confirmed the appointment of Richard P. Urban, a director and member of Audit Committee, as chairman of the Audit Committee, filling the vacancy created by the passing of Ted B. Wahby on December 5, 2015.
The company reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported total operating revenues of $285.991 million against $302.480 million a year ago. Income from operations was $18.464 million against $18.793 million a year ago. Income before provision for income taxes was $15.088 million against $16.829 million a year ago. Net income was $9.306 million against $10.519 million a year ago. Earnings per diluted share were $0.33 against $0.35 a year ago. EBITDA was $26.888 million against $27.714 million a year ago.
For the year, the company reported total operating revenues of $1,128.773 million against $1,191.521 million a year ago. Income from operations was $73.395 million against $80.835 million a year ago. Income before provision for income taxes was $65.005 million against $73.099 million a year ago. Net income was $40.001 million against $45.370 million a year ago. Earnings per diluted share were $1.37 against $1.51 a year ago. EBITDA was $108.268 million against $113.888 million a year ago.
Universal Logistics Holdings, Inc. is a holding company, providing a variety of customized transportation and logistics solutions throughout the United States, and in Mexico, Canada and Colombia. Its segments include contract logistics, intermodal, trucking, and company-managed brokerage. The contract logistics segment delivers value-added and dedicated transportation services to support in-bound logistics to original equipment manufacturers and retailers on a contractual basis. The intermodal segment is associated with local and regional drayage moves that are coordinated by company-managed terminals using a mix of owner-operators, company equipment and third-party capacity providers (broker carriers). The trucking segment's operations are associated with individual freight shipments coordinated by its agents. The company-managed brokerage segment provides for the pick-up and delivery of individual freight shipments using broker carriers, coordinated by its company-managed operations.
Universal Truckload Services Inc. Declares Quarterly Cash Dividend, Payable on March 17, 2016; Announces Board Changes; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015