Reducing its fourth-quarter loss to $2.3-million and Vitran Corporation increased its revenue by 7%. Its revenue rose to $165 million from $154.2 million of the last year, in the three months ended on December 31.

Its net loss was mainly because of an accounting charge reflecting an impairment of goodwill. In the most recent quarter, Vitran's net loss was 14 cents, compared to $5.85 of the year earlier including the goodwill impairment and
23 cents per share.

"The fourth quarter of 2009 was the first quarter in several quarters where financial and operating metrics improved over the prior year," said Rick Gaetz, Vitran's president and chief executive officer.

Shipments and tonnage increased 3.6% and 4.7%, respectively as Vitran's less-than-truckload segment placed a loss of $2.6 million compared with a loss of $4.7 million a year earlier. Vitran closed at $8.62, down 2.8% on Friday.