Revenue during the quarter grew 9.24 percent to $284.44 million from $260.39 million in the previous year period. Total expenses were 96.78 percent of quarterly revenues, up from 94.65 percent for the same period last year. That has resulted in a contraction of 213 basis points in operating margin to 3.22 percent.

Operating income for the quarter was $9.17 million, compared with $13.93 million in the previous year period.

"We are very excited to see top-line revenue growth in every one of our service categories," stated Jeff Rogers, Universal’s chief executive officer, "and even more so, to see double-digit growth in several of them. We are also pleased to see the year-over-year improvement in the operating results from our transportation segment. I believe those businesses are well positioned to provide solid results throughout the year. Despite numerous positive signs, we are still facing real challenges at a few of our large value-added programs. We have experienced certain production issues and on-going launch costs that have depressed the performance of these operations. Although we are making progress, additional improvement is required in order to reach the level of profitability that we expect. There exists a substantial opportunity for improved results right in front of us, and we remain committed to achieving profitable growth."