Echo Logistics Global Enjoys Increased Earnings
Echo Logistics Global is a Chicago, IL based company that specializes in providing high-quality logistics services in the freight transportation and delivery industry. The organization provides detailed management services of cargo moving on land or sea. With a scalable web suite consisting of portals and tools such as EchoTrak, RateIQ 2.0, EchoIQ, and FastLane, the organization provides many benefits to users of their technology. From tracking shipments to obtaining pricing information to viewing maintenance reports, users can perform a variety of useful tasks utilizing the company’s technology.
This unique and versatile array of available services has proved valuable, as it allowed the company to enjoy continued success in spite of tumultuous economic conditions. Recently the organization reported an increase in second quarter earnings. The change was due in large part to stronger volumes and an increased number of transactions.
With a net income of $1.9 million, the company was able to boast a nearly 400% increase from last year’s performance, which was a net loss of $681,628. Shares currently stand at 7 cents, but jump an additional 20 cents when amortization and stock compensation are excluded. With a 19% increase in revenue year-over-year and a net revenue increase of 22.5%, the organization is excited to have shown such progress.
Doug Waggoner, the chairman and CEO of Echo said: “We are very pleased with this growth and believe it highlights the value we bring to both shippers and carriers in any environment.” The organization currently ranks 35 on Transport Topics Top 50 list of the highest earning North American logistics companies in terms of revenue.