TRANSPORTATION.COM REPORTS $6.7-MILLION REVENUE FOR 1ST QUARTER

TRANSPORTATION.COM REPORTS $6.7-MILLION REVENUE FOR 1ST QUARTER

   Transportation.com, a privately-held electronic third-party logistics provider launched last year, said that its revenue for the first quarter of this year reached $6.7 million.

   The Overland Park, Kan.-based company said that “positive results for the first quarter of 2001, including revenue of $6.7 million, are strong indicators it is on track to achieve a profitable run rate by the end of the year.”

   The revenue figure also includes revenues from the company’s online transportation equipment auction business.

   Transportation.com said that growth in all of the company’s business units, including freight forwarding, transactional and contractual transportation management services, and asset disposal, contributed to first quarter revenue.

   Transportation.com concluded its first nine months of operation with more than 8,700 members, up 23 percent since the first of the year.

   Since introducing its first online auction last July, Transportation.com has sold more than 3,000 pieces of used transportation equipment, most of which sell within two weeks, it said.

   The company said that it has secured 21 long-term contracts for transportation services and has “a significant volume of contractual business in our pipeline.”

   Competing against the likes of Transplace.com, FreightQuote.com and freightPro.com, Transportation.com is one of the e-commerce start-ups that seeks to convert 3PL and trucking service procurement to the Internet.