TORONTO (Reuters) - Canadian transportation company Vitran Corp reported a 17 percent drop in second-quarter profit on Wednesday as rising fuel costs offset record revenue.

Vitran said earnings fell to $4.6 million, or 34 cents a share, down from $5.5 million, or 41 cents, a year earlier.

Revenue for the quarter rose to $195.9 million, up from $170.1 million, due in part to growth in its revenue per shipment and the implementation of the company's IT operating system in the United States.

Analysts, on average, had expected 34 cents a share, according to Reuters Estimates.

Rick Gaetz, president and chief executive, said in a statement the company was pleased with top and bottom-line performance in the quarter, given a slumping U.S. economy and record fuel costs.

Vitran, based in Toronto, provides freight surface transportation and related logistics services in Canada and in the United States.

($1=$1.01 Canadian)

(Reporting by Jennifer Kwan and Scott Anderson; Editing by Frank McGurty)

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