PILOT AIR FREIGHT REPORTS IMPROVED FINANCIAL RESULTS
Freight forwarder Pilot Air Freight reported fourth-quarter gross revenues of $60.7 million, up from $54.7 million during the same year earlier period, spokeswoman Susan Pickett said. For the year the Lima, Pa.-based transportation service provider's gross revenue increased 3 percent to $216.9 million.
Gross revenues include the total service cost paid by customers, including the amount paid to airlines and trucking companies to move their goods. The privately held company does not disclose net revenue for arranging shipments or net income, Pickett said, but added the company is profitable.
Pilot handled 181,282 shipments in the fourth quarter, up 16 percent from the fourth quarter of 2001, and 658,317 shipments for all of 2002, up 10 percent from 2001.