NTE VOLUME QUADRUPLES IN 3RD QUARTER
NTE, the online trucking marketplace, recorded a third consecutive quarter of triple-digit business growth in its third quarter.
For the quarter ending Sept. 30, the seven-year-old, business-to-business provider’s revenues grew more than 430 percent from a year ago, while trading volumes jumped more than 300 percent. Membership in NTE jumped 110 percent to more than 1,650 customers.
The company’s customer base grew by 270 member companies in the last quarter.
The trade rate, which measures the likelihood that a transaction will occur in NTE’s online marketplace, also doubled compared to a year ago, the company said. In the third quarter 2001, about three in four shipments tendered to NTE actually traded, or were moved by a transportation provider.
Based in Downers Grove, Ill., NTE is owned by AT&T Ventures, Hummer Winblad, Dell USA, FedEx Corp. and other shareholders.