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Canadian cross-border trucking and logistics firm
Titanium Transportation Group Inc. (OTC: TTTGF) closed 2020 firing on all cylinders, reporting record revenue Tuesday for the fourth quarter and full year on the strength of its U.S. brokerage operations.
The Ontario-based company reported adjusted net income of CA$2.1 million ($1.66 million), or 6 cents per share, on CA$65.9 million in revenue. Fourth-quarter revenue came in 52.1% higher than a year ago, while net income came in more than 600% higher.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 46.2% to CA$6.5 million compared to a year earlier.
"Record fourth quarter results marked a strong finish to an extraordinary year that exceeded expectations," CEO Ted Daniel said in a statement.