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November 2, 2006 9:45 AM, EST

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ank truck carrier Quality Distribution late Wednesday reported third-quarter net income of $38 million or $1.94 a share, up from $50,000 or zero cents a year ago.

img src="/sites/default/files/images/articles/Quality.gif" width=200 align=right>Net income included a $32.1 million benefit from a tax allowance; excluding that, Quality said it earned $16 million in the quarter.

The company had said last year that the 2005 third quarter ran "well below expectations." (Click here for previous coverage.)

Third-quarter revenue rose 11% to $190 million from the same period in 2005. Excluding fuel surcharges, revenue increased 7.5% to $165 million.

Transportation revenue rose 9.5% from a year ago to $149 million.

Quality also announced its full-year 2006 guidance, saying it expects revenue, excluding fuel surcharge, of $645 million to $650 million and earnings per share between 73 and 75 cents.

Quality Distribution is ranked No. 34 on the Transport Topics 100 list of U.S. and Canadian for-hire carriers.