Janel World Trade Ltd. Reports Fiscal Second Quarter 2012 Results
Company to Discontinue Food Segment and Focus on Transportation Logistics
(firmenpresse) - JAMAICA, NY -- (Marketwire) -- 05/15/12 -- Janel World Trade, Ltd. (OTCBB: JLWT), a full-service global provider of integrated transportation logistics, announced today the financial results for its three and six months ending March 31, 2012.
For the three months ending March 31, 2012, Janel reported revenue of $22,268,568 a decrease of $453,077 or down 2.0% compared to the three months ended March 31, 2011.
For the three months ending March 31, 2012, the Company reported a net loss of $(397,831) or $(0.02) per fully diluted share, compared to the prior year reported net loss of $(140,271), or $(0.01) per fully diluted share.
For the six months ending March 31, 2012, Janel reported revenue of $45,853,700 a decrease of $3,301,939 or down 6.7% compared to the six months ended March 31, 2011.
For the six months ending March 31, 2012, the Company reported a net loss of $(644,743) or $(0.03) per fully diluted share, compared to the prior year reported net loss of $(131,701), or $(0.01) per fully diluted share.
"For the quarter ended March 31, 2012, the results were extremely disappointing," said James N. Jannello, Executive Vice President and Chief Executive Officer. "We experienced weaker than expected freight volumes from our customers within our transportation logistics segment when compared to the prior year, resulting in a $417,012 operating loss for the three months in this segment. And within our food industry segment we incurred a $201,828 operating loss primarily due to the sale of inventory at a discount in order to reduce inventory levels and the ongoing operating expenses."
Jannello continued, "The Company expanded into the food segment which offered higher gross profit margins after significant investment at the same time that the logistics industry as a whole was weakening. We have made the strategic decision to cut our operating losses in the food segment which would have continued to require more capital investment in order to focus all of management's attention on our core transportation and logistics segment. On a positive note, one of the areas within the transportation logistics segment that is contributing positively to our results is the investment we made last year to build the 15,000 square foot drive-in freezer in our New Jersey operation where we have attracted new warehouse revenue with higher gross profit margins. Looking ahead, and in the short term, we are seeking to raise additional capital in order to grow the transportation logistics segment to profitability."
Jannello concluded, "We are focused on the above short term efforts of returning our core transportation logistics segment to profitability, raising additional capital to grow this core segment, and divesting ourselves of the food segment that negatively impacted our results."
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Janel World Trade, Ltd. is a global provider of integrated logistics; including domestic and international freight forwarding via multi-modal carriers, leading-edge, end-to-end, supply-chain technology, customs brokerage, warehousing and distribution, and other transportation-related services; and a provider of vertically integrated supply chain services in the food industry. With offices throughout the U.S. (New York, Chicago, Los Angeles, and Atlanta) and a network of independent international agents in approximately 52 countries, the Company provides the comprehensive logistics services and technology necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission.
Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTC Bulletin Board under the symbol "JLWT." Additional information on the Company is available on its website at
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Investor Relations
Janel World Trade
(404) 261-1196
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Datum: 15.05.2012 - 14:05 Uhr
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