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Motor Cargo Industries sees a dip in net income

SHARE Motor Cargo Industries sees a dip in net income

Salt Lake-based Motor Cargo Industries Inc. said Monday that net income totaled $1.5 million, or 23 cents per share, during the quarter ended June 30. That's down from $1.6 million, or 24 cents per share, for the same period a year ago.

Revenue in the quarter totaled $34.8 million, up from $31.8 million a year ago.

For the first six months of the year, Motor Cargo had net income of $2.6 million, or 41 cents per share, up from $2.3 million, or 34 cents per share, in the prior-year period. Revenue totaled $67.7 million, up from $62.1 million, year-over-year.

The company said that while many of its larger customers shipped less freight during the second quarter, it generated more revenue from smaller accounts and new customers.