Chattanooga, TN, April 26--U.S. Xpress Enterprises Inc. reported a loss in the first quarter, due largely to a seasonal downturn in demand for freight transport.
The results were in-line with the company's warning on March 30. It posted a net loss of $2.1 million, or $0.13 per share, in the first quarter, compared with a profit of $800,000, or $0.06 per share, in the comparable year-ago quarter.
Xpress added that it expects to swing to a profit in the second quarter, predicting earnings would be in the range of $0.18 to $0.26 per share on revenues of $265 million to $270 million.
