Trailer Bridge’s 4th quarter net income up 41%

Trailer Bridge’s 4th quarter net income up 41% Jacksonville, Fla.-based Trailer Bridge today reported unaudited fourth quarter net income of $3.88 million, a 40.6 percent increase compared to $2.7 million posted in the same period in 2005.
   Trailer Bridge’s operating income in the latest quarter rose 19.2 percent to $6.4 million while operating revenue increased 10.7 percent to $31.1 million.
   The U.S./Puerto Rico operator said the higher revenues were driven by a 6.3 percent increase in southbound container volume, a 5.5 percent increase in average revenue per southbound container and increased fuel surcharges.
   The company’s Jacksonville/San Juan deployed vessel capacity utilization during the fourth quarter was 90.4 percent to Puerto Rico and 24.3 percent from Puerto Rico compared to 88.9 percent and 24 percent, respectively, during the fourth quarter of 2005.
   “These are the best quarterly financial results that Trailer Bridge has reported in its history,” said John D. McCown, Trailer Bridge’s chairman and chief executive officer. “I believe our performance during the fourth quarter demonstrates the cost efficiency and significant operating leverage of our business model.”
   Trailer Bridge will report its audited full year results before the end of the month, which will show the effects of an income tax credit estimated to be about $13.4 million.