$IFCR ~~~ Financial Summary: For the fiscal y
Post# of 173
Posted On: 07/28/2015 10:17:03 AM
$IFCR ~~~ Financial Summary:
For the fiscal year ended March 31, 2015 the Company achieved total
revenues of $18,970,809, representing a slight decrease when compared to
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 7.4% for the year as compared to the
previous year, resulting in a loss from operations of $91,321 as compared
to the prior year loss from operations of $429,650, an improvement of
$338,290.
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.
Exclusive of non-operating income and expense, the Company posted an EBITDA
of $1,181,830 for the year ended March 31, 2015 as compared to $867,533 for
the previous year, a very strong increase of 36.2% increase.
An improvement of approximately $2,500,000 in the Company's working capital
position, primarily influenced by a reduction in notes payable of the same
amount.
Similarly, the net equity position of the Company was increased by
approximately $2,000,000.
For the fiscal year ended March 31, 2015 the Company achieved total
revenues of $18,970,809, representing a slight decrease when compared to
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 7.4% for the year as compared to the
previous year, resulting in a loss from operations of $91,321 as compared
to the prior year loss from operations of $429,650, an improvement of
$338,290.
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.
Exclusive of non-operating income and expense, the Company posted an EBITDA
of $1,181,830 for the year ended March 31, 2015 as compared to $867,533 for
the previous year, a very strong increase of 36.2% increase.
An improvement of approximately $2,500,000 in the Company's working capital
position, primarily influenced by a reduction in notes payable of the same
amount.
Similarly, the net equity position of the Company was increased by
approximately $2,000,000.
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