Integrated Freight Reports Q3 and Becomes Compliant
Year to Date Is $796,000 Over Last Year's Comparable Nine Month Period
(firmenpresse) - DANBURY, CT -- (Marketwired) -- 06/27/15 -- Integrated Freight Corporation (OTC PINK: IFCR), a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States, announced the filing of its SEC 10-Q report for the period ended December 31, 2014, its fiscal third quarter.
David N. Fuselier, CEO of Integrated Freight, stated, "During Q3 we incurred a small loss but were able to improve net income $250,000 over last year''s comparable period. We anticipated that Q3, which is a shoulder quarter for us, would be a loss or somewhat less profitable than other periods. Pre-holiday shipping and our environmental business are seasonally weaker during Q3." Fuselier continued, "We''re not satisfied with any quarter that doesn''t deliver net income; we''re pleased nonetheless with the ongoing trend of the company''s business results."
For the quarter ending December 31, 2014 revenue decreased slightly to $4,754,706 from the same period the previous year due largely to reduced fuel surcharges related to lower market diesel fuel prices and somewhat weaker seasonal demand.
Total Operating Expenses were down 7.8% for the quarter thanks to lower fuel and insurance costs as well as other ongoing improvements.
The Company posted 43% quarterly and 93% year-to-date profitability improvements compared to last year.
General and Administrative costs, a key to the Integrated turnaround thus far, remain low and continue to set the tone for future business results improvements.
Year-to-date the Company posted EBITDA of $1,126,000, a 45% increase over the same period last year.
"As anticipated, Q3 was seasonally weak for us as a niche motor carrier," said Hank Hoffman, IFCR president. "Although our third quarter demand is typically somewhat weaker, the ongoing progress being made by the operating subsidiaries related to fuel consumption, safety, and other key cost areas is very satisfactory," said Hank Hoffman, IFCR president. "As we complete our turnaround process and target acquisitions, it''s important to recognize the significant ongoing performance contributions of our subsidiary employees. We remain nearly $800,000 ahead of last year because of their efforts."
Integrated Freight Corporation (OTC PINK: IFCR) provides long-haul, regional and local motor freight service. For its customers, the Company provides dry van and hazardous waste truckload services in well-established traffic lanes in the Upper Midwest, Texas, California and along the Atlantic seaboard. For its shareholders, Integrated Freight acquires operating motor freight companies that build, maintain and deliver shareholder value. The Company''s corporate mission is to be the best niche motor carrier in North America.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company''s expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company''s 10-Ks and 10-Qs on file with the Securities and Exchange Commission.
We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.
Contact:
Hank Hoffman
President and COO
Integrated Freight Corporation
417-434-1782
David Fuselier
CEO
Integrated Freight Corporation
203-628-7142
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Datum: 27.06.2015 - 07:03 Uhr
Sprache: Deutsch
News-ID 1368868
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