IFCR.this is good news and a big relief.
Ifcr Details The Results Of Its Turnaround [Market News Publishing (US)]
INTEGRATED FREIGHT CORP
INTEGRATED FREIGHT CORP ("IFCR-L"
- Ifcr Details The Results Of Its Turnaround
Integrated Freight Corporation, a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States, today issued statements regarding its financial and operating improvements.
David N. Fuselier, CEO of Integrated Freight, stated, "By any objective measure, the new management team's restructuring and turnaround of IFCR starting early in its 2013 fiscal year is remarkable. We took on a company whose two largest and most recent acquisitions had both failed and ceased all operations. The Company had substantial debt, huge losses, no cash, and several contentious legal issues. In short, with no realistic means of recapitalizing that broken business, our team had to manage its way through a very difficult transition to our current position of profitability."
Integrated Freight By the Numbers:
FYE Mar 31 2012 2015
total debt 19,651,529 9,868,128
revenue 20,714,998 18,970,809
net income (cont. opns) (5,386,603) 284,177
ebitda (cont. opns) (683,092) 1,774,544
net income (disc. opns) (14,337,256) 284,177
ebitda (disc. opns) (9,633,745) 1,774,544
Beginning in late FY2012 management began the process of settling and restructuring debt resulting in nearly 50% reduction. Continuing operations following closure of the two subsidiaries resulted in a small net revenue reduction. However, beginning in FYE 2013 IFCR posted its first ever net income and positive cash flow from operations. Through its March 31, 2015 fiscal year end, IFCR remained profitable and exhibited solid EBITDA. Even with these metrics, Integrated's enterprise value exceeds $11,000,000 and currently trades at a P/E ratio of less than 1X compared to an industry average of 17X earnings.
"It's tough being a small public company," said Hank Hoffman, IFCR president. "However, as a truckload motor carrier operating in key niche markets, we have critical operating advantages that will enable us to be disproportionately profitable relative to the general truckload industry. Our strategic plan calls for us to grow organically as well as through the acquisition of other niche carriers. As we do so, our PE ratio should increase and become closer to the industry average."
Management is aware of Integrateda(TM)s yield sign and expects to file its 10-K and current 10-Q very soon. The delay is due primarily to the Companya(TM)s change of auditors as reported in a corresponding 8-K dated July 14, 2015.
Ifcr Details The Results Of Its Turnaround [Market News Publishing (US)]
INTEGRATED FREIGHT CORP
INTEGRATED FREIGHT CORP ("IFCR-L"
- Ifcr Details The Results Of Its Turnaround Integrated Freight Corporation, a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States, today issued statements regarding its financial and operating improvements.
David N. Fuselier, CEO of Integrated Freight, stated, "By any objective measure, the new management team's restructuring and turnaround of IFCR starting early in its 2013 fiscal year is remarkable. We took on a company whose two largest and most recent acquisitions had both failed and ceased all operations. The Company had substantial debt, huge losses, no cash, and several contentious legal issues. In short, with no realistic means of recapitalizing that broken business, our team had to manage its way through a very difficult transition to our current position of profitability."
Integrated Freight By the Numbers:
FYE Mar 31 2012 2015
total debt 19,651,529 9,868,128
revenue 20,714,998 18,970,809
net income (cont. opns) (5,386,603) 284,177
ebitda (cont. opns) (683,092) 1,774,544
net income (disc. opns) (14,337,256) 284,177
ebitda (disc. opns) (9,633,745) 1,774,544
Beginning in late FY2012 management began the process of settling and restructuring debt resulting in nearly 50% reduction. Continuing operations following closure of the two subsidiaries resulted in a small net revenue reduction. However, beginning in FYE 2013 IFCR posted its first ever net income and positive cash flow from operations. Through its March 31, 2015 fiscal year end, IFCR remained profitable and exhibited solid EBITDA. Even with these metrics, Integrated's enterprise value exceeds $11,000,000 and currently trades at a P/E ratio of less than 1X compared to an industry average of 17X earnings.
"It's tough being a small public company," said Hank Hoffman, IFCR president. "However, as a truckload motor carrier operating in key niche markets, we have critical operating advantages that will enable us to be disproportionately profitable relative to the general truckload industry. Our strategic plan calls for us to grow organically as well as through the acquisition of other niche carriers. As we do so, our PE ratio should increase and become closer to the industry average."
Management is aware of Integrateda(TM)s yield sign and expects to file its 10-K and current 10-Q very soon. The delay is due primarily to the Companya(TM)s change of auditors as reported in a corresponding 8-K dated July 14, 2015.
