LONDON (Thomson Financial) - Quality Distribution Inc. said it expects to
swing to a fourth-quarter loss of 49 cents a share after recording a profit of 4
cents a share in the same quarter a year earlier.
The provider of bulk transportation and related services said it expects
fourth-quarter revenue of about $159 million, up from $152.4 million a year
earlier.
Analysts surveyed by Thomson Financial estimate fourth-quarter earnings of 7
cents a share.
The Tampa, Fla-based company attributed the loss to a number of charges
related to refinancing activities brought about in part by its acquisition of
Boasso.
The company added it also had to bear charges related to the adverse
development of several large casualty claims that were settled in the quarter.
These charges come as the company also struggles to deal with a weakening
economic environment.
Shares of Quality Distribution closed Monday at $4.47.
Mark.cotton@thomson.com
mc1/jw
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