$IFCR ~~ Integrated Freight Generates Small Profit in Q2
Year to Date Is $540,000 Over Last Year's Comparable Six Month Period
DANBURY, CT -- (Marketwired) -- 06/23/15 -- 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 September 30, 2014, its second quarter.
David N. Fuselier, CEO of Integrated Freight, stated, "During Q2 we were able to deliver positive operating income as well as net income. Although our Q2 net operating results are less than anticipated, we're pleased with our year over year comparable results."
Financial Summary:
For the quarter ending September 30, 2014 revenue decreased slightly to $4,941,970 from the same period the previous year due largely to reduced fuel surcharges related to lower market diesel fuel prices. Total Operating Expenses were down 10.7% for the quarter due to lower fuel and insurance costs as well as other operating cost improvements. As a result, the Company posted $204,000 Income from Operations for the quarter compared to a loss of $98,000 in the same quarter the previous year. It should be noted that General and Administrative costs, a key to the IFCR turnaround thus far, continued to remain quite low at less than 7% of revenue.
Year-to-date the Company posted EBITDA of $1,128,000, a 27% increase over the same period last year.
"We continue to build a competent downstream operation while maintaining an efficient overhead structure that is among the lowest of our peers in the transportation industry," said Hank Hoffman, IFCR president. "We believe that additional future niche operations will bring the same attention to efficiency as our current operations. We expect such operational excellence because our customers expect it."
The Company also noted that its next quarterly filing will be filed within a week.
About Integrated Freight Corporation 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
Source: Integrated Freight Corporation
Year to Date Is $540,000 Over Last Year's Comparable Six Month Period
DANBURY, CT -- (Marketwired) -- 06/23/15 -- 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 September 30, 2014, its second quarter.
David N. Fuselier, CEO of Integrated Freight, stated, "During Q2 we were able to deliver positive operating income as well as net income. Although our Q2 net operating results are less than anticipated, we're pleased with our year over year comparable results."
Financial Summary:
For the quarter ending September 30, 2014 revenue decreased slightly to $4,941,970 from the same period the previous year due largely to reduced fuel surcharges related to lower market diesel fuel prices. Total Operating Expenses were down 10.7% for the quarter due to lower fuel and insurance costs as well as other operating cost improvements. As a result, the Company posted $204,000 Income from Operations for the quarter compared to a loss of $98,000 in the same quarter the previous year. It should be noted that General and Administrative costs, a key to the IFCR turnaround thus far, continued to remain quite low at less than 7% of revenue.
Year-to-date the Company posted EBITDA of $1,128,000, a 27% increase over the same period last year.
"We continue to build a competent downstream operation while maintaining an efficient overhead structure that is among the lowest of our peers in the transportation industry," said Hank Hoffman, IFCR president. "We believe that additional future niche operations will bring the same attention to efficiency as our current operations. We expect such operational excellence because our customers expect it."
The Company also noted that its next quarterly filing will be filed within a week.
About Integrated Freight Corporation 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
Source: Integrated Freight Corporation
