Echo Global revenue up 82% in second quarter

Echo Global Logistics, a provider of technology-enabled transportation and supply chain management services, saw revenue increase by 82 percent in the second quarter, reported Globe Newswire.

Chief executive officer, Doug Waggoner, said, "The second quarter was strong as we continued to execute our growth strategy to expand our market share in both transactional and enterprise client bases. Year-over-year revenue growth in excess of 80 percent and we more than doubled our net income as we expanded our enterprise client base by 30 new clients and our shipment volume increased in excess of 72 percent while we maintained a lean operating environment.

"While we achieved substantial growth in revenue during the second quarter, we continued to experience net revenue margin compression. This was due to a continued tightening in capacity in the truckload market and a higher mix of truckload revenue, which typically has lower net revenue margins than less-than-truckload net revenue. However, our operating margins expanded from 10 percent to 15.6 percent, as our continued growth improved our overall operating leverage."

Total revenue of US$109.9 million in the second quarter of 2010 increased 82 percent compared to $60.3 million in the second quarter of 2009. The majority of this increase was driven by higher volumes, attributable to both an increase in the number of clients served as well as higher volumes per client for transactional and enterprise clients.

Total shipment volume increased by 72 percent year-over-year. In addition, the company's revenue per shipment increased by six percent year-over-year.
(Source:www.cargonewsasia.com)