Trailer Bridge Reports Second Quarter Results

Trailer Bridge, Inc. TRBR today reported unaudited financial results for the second quarter ended June 30, 2010. The Company reported operating income of $3.4 million in the second quarter of 2010, a 5.7% increase compared to operating income of $3.2 million in the second quarter of 2009. Net income for the second quarter of 2010 improved by $0.2 million to $0.9 million, or $0.07 per basic and diluted share, compared to $0.7 million, or $0.06 per basic and $0.05 per diluted share, in the prior-year period. EBITDA for the second quarter of 2010 was $5.0 million, a 3.7% improvement from $4.8 million in the prior-year period. Adjusted EBITDA, as detailed in the accompanying table, was $5.3 million in the second quarter of 2010. The Company reported revenue of $31.7 million during the quarter, up 13.5% from the prior year period and up 9.8% sequentially. Excluding the effect of fuel surcharges, revenue increased by 9.0% from the prior year period and 8.9% from the first quarter of 2010.