NTE’S REVENUES CLIMB FOURFOLD
NTE, Inc., the privately-owned, Downers Grove, Ill.-based operator of the NTE electronic marketplace for trucking, said that its revenues in the fourth quarter quadrupled (up 300 percent), when compared to the same quarter in 2000.
Trading activity in its public e-marketplace more than tripled (up 250 percent) and its customer base doubled.
The company did not disclose its dollar revenue figures for the latest quarter.
It said that activity on its Web site also quadrupled from a year ago as the company recorded more than 17 million hits, or about 280,000 per business day.
NTE said that it saw “solid revenue growth from services other than its public e-marketplace offering.” During the quarter, several Fortune 500 firms and others with sophisticated supply chains launched or committed to develop private communities, or custom-designed e-marketplaces. Sales from the development of private communities and other NTE e-transportation services, which were negligible a year ago, contributed to surpassing the company’s fourth-quarter expectations, NTE said.
“E-commerce has moved from a novelty to a necessity for transportation services companies seeking a competitive edge,” said Jim Davidson, NTE president and chief executive officer.
For the year, NTE’s sales more than quadrupled (up 340 percent), the majority of which came from its public e-marketplace, NTE Exchange.
NTE generates NTE Exchange revenues from trades that occur as buyers (shippers and third-party logistics companies) and sellers (transportation carriers) transact online.