Echo Global Logistics Reports Record Fourth Quarter Results; Revenue Up 36% Year Over Year
(firmenpresse) - CHICAGO, IL -- (Marketwired) -- 02/05/15 -- Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, reported today financial results for the quarter and full year ended December 31, 2014.
"Echo continues to bring a growing multi-modal carrier network to our shippers, providing consistent and reliable service. Our 2014 success is driven by our investments in people, our commitment to clients, and a transportation environment that rewards execution and access to capacity," stated Doug Waggoner, Chief Executive Officer of Echo. "Continued dedication to our strategy of strong organic growth and focused acquisitions has led to another record year of growth and profitability," said Waggoner.
Total revenue grew 33% to $1.17 billion
Transactional revenue grew 41% to $871.3 million
Truckload revenue grew 57% to $619.2 million; LTL revenue grew 18% to $432.1 million
Non-GAAP fully-diluted EPS totaled $0.81, increasing 32%*
Total revenue increased 36% to $300 million from the fourth quarter of 2013
Non-GAAP EBITDA increased 69% to $11.5 million from the fourth quarter of 2013*
Non-GAAP net income increased 86% to $4.7 million from the fourth quarter of 2013*
Non-GAAP fully diluted EPS increased 83% to $0.20 from the fourth quarter of 2013*
* All non-GAAP financial measures exclude the effects of changes in contingent consideration payable and acquisition-related transactions costs. For a reconciliation of each non-GAAP financial measure to the nearest comparable GAAP financial measure, see "Reconciliation to GAAP Operating Income, Operating Margin, Net Income and Fully Diluted EPS" included in this release.
Summarized financial results and select operating metrics follow:
"With an excellent 2014 behind us, we are expecting another year of strong growth in 2015. We will continue to invest in our people and technology as we move towards our 2017 targets of $2 billion in revenue and $100 million in non-GAAP EBITDA," commented Kyle Sauers, Chief Financial Officer of Echo. Sauers continued, "We are initiating 2015 full year revenue guidance in the range of $1.30 billion to $1.38 billion and SG&A costs of $120 million to $125 million excluding the impact of any potential acquisitions or acquisition related costs."
A conference call, with accompanying presentation slides, will be broadcast live on February 5, 2015 at 4:00 p.m. Central Time (5:00 p.m. Eastern Time). Doug Waggoner, Chief Executive Officer, Dave Menzel, President and Chief Operating Officer, and Kyle Sauers, Chief Financial Officer, will host the call. To participate in the call, dial (877) 303-6235 (toll free) or (631) 291-4837 (toll) and reference "Echo Global Logistics." To listen to a live webcast of the call, visit the Echo website at . A replay of the webcast will be available for one year following the live webcast in the Investor Relations section of the Echo website.
This release includes the following financial measures defined as "non-GAAP financial measures" by the Securities and Exchange Commission (the "SEC"): Non-GAAP EBITDA, Non-GAAP Operating Income, Non-GAAP EBITDA Margin, Non-GAAP Net Income and Non-GAAP Fully Diluted EPS. We refer to these Non-GAAP financial measures to describe earnings and earnings per share excluding the effects of changes in contingent consideration payable and acquisition-related transaction costs. We believe such measures provide useful information to investors because they provide information about the financial performance of the Company''s ongoing business.
Non-GAAP EBITDA, Non-GAAP Operating Income, Non-GAAP EBITDA Margin, Non-GAAP Net Income and Non-GAAP Fully Diluted EPS are used by management in its financial and operational decision-making and evaluation of overall operating performance. These measures may be different from similar measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles. For a reconciliation of each non-GAAP financial measure to the nearest comparable GAAP financial measure, see "Reconciliation to GAAP Operating Income, Operating Margin, Net Income and Fully Diluted EPS" included in this release.
This release contains statements relating to future results. These statements are forward-looking statements under the federal securities laws. We can give no assurance that any future results discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" section of our Form 10-K for the year ended December 31, 2013 we filed with the SEC.
Echo Global Logistics, based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services. Echo maintains a proprietary web-based technology platform that compiles and analyzes data from its network of over 30,000 transportation providers to serve its clients'' transportation and supply chain management needs.
Echo services clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: .
ECHO: Earnings
INVESTOR RELATIONS CONTACT:
Echo Global Logistics
Kyle Sauers
Chief Financial Officer
(312) 784-7695
Zach Jecklin
Director of Finance
(312) 784-2046
MEDIA CONTACT:
Hanni Itah
SSPR
(847) 415-9324
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Datum: 05.02.2015 - 15:00 Uhr
Sprache: Deutsch
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