C2 Inc earns a record in third quarter

Oct 22, 2003 12:00 PM, from staff and wire reports

C2 Inc, Milwaukee WI-based parent company of Total Logistic Control (TLC) and Zero Zone, announced net earnings for the third quarter ended Sept 30, 2003, totaled $1,568,000, a 50.3% increase compared with $1,043,000 reported for the same period a year ago.

Consolidated revenues for the three months ended Sept 30, 2003, totaled $71,095,000, a 7.0% advance over those reported for the comparable period a year earlier. Both TLC and Zero Zone, contributed to the rise in revenues and earnings for the quarter.

Net earnings for the nine months ended Sept 30, 2003, totaled $2,648,000, essentially level with net earnings of $2,657,000 reported for the same period in 2002.

William T Donovan, C2 president and chief executive officer, said, "C2's financial performance for the third quarter reflects a record level of quarterly net earnings and a significant improvement by both TLC and Zero Zone in delivering earnings growth compared to last year's period, as well as sequentially."