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Universal Logistics Seeks Expense Relief From Customers

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Launch costs associated with a new business win at an auto manufacturer’s facility pulled down Universal Logistics Holdings’ third-quarter results.

The Warren, Michigan-based asset-light transportation and logistics provider recorded a $7.1 million loss on the new piece of business in the period, which in part pushed earnings per share 24% lower year-over-year to 38 cents, well short of the 64-cent-consensus estimate.

In total, $12.9 million in startup and litigation costs weighed on Universal’s (NASDAQ: ULH) operating income line, which was 24% lower year-over-year at $16.7 million even though revenue increased by 22% to $446 million. The net result was a 36-cent hit to EPS.

Universal’s key performance indicators – consolidated

“The ongoing chip shortage and supply chain disruptions hampered North American automotive production throughout the quarter which, in turn, adversely impacted our contract logistics businesses,” CEO Tim Phillips stated in a press release.

Launch costs humble contract logistics unit

The startup costs landed in the contract logistics segment, which reported a 48% year-over-year decline in operating income even though revenue was up 23%. The segment’s 3.8% operating margin was 530 basis points lower than the year-ago quarter with 460 bps of the reduction tied to the contract.

Universal’s key performance indicators – contract logistics

While weakness throughout the auto manufacturing complex continues to limit results, management remains hopeful.

“We continue to remain bullish on autos and Class 8 truck demand in 2022 but there is no end in sight to the current headwinds the industry is facing,” …

Full story available on Benzinga.com

Original Article: benzinga.com

Science

3xLOGIC Rolls Out New Mobile App for VIGIL CLOUD Solution

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App puts control of video management in the palm of users’ hands

(PRWeb November 03, 2021)

Read the full story at https://www.prweb.com/releases/3xlogic_rolls_out_new_mobile_app_for_vigil_cloud_solution/prweb18310962.htm

Original Post: prweb.com

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3xLOGIC Introduces All-in-One Functionality for a Variety of Cameras

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Serverless bundles, indoor cube cameras, and thermal cameras among the first to feature new onboard storage capability

(PRWeb October 26, 2021)

Read the full story at https://www.prweb.com/releases/3xlogic_introduces_all_in_one_functionality_for_a_variety_of_cameras/prweb18289927.htm

Source: prweb.com

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Protectimus Releases Electronic Visit Verification (EVV) Solution…

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Protectimus EVV system allows using OTP codes from hardware TOTP tokens to determine the exact time and duration of homecare personnel visits to their clients.

(PRWeb October 25, 2021)

Read the full story at https://www.prweb.com/releases/protectimus_releases_electronic_visit_verification_evv_solution_based_on_totp_hardware_tokens/prweb18273776.htm

Source: prweb.com

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