IFCR ~~>> November 25, 2015 / Integrated Freight Corporation (OTC PINK: IFCR), a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States, today stated that the weaker than expected domestic economy has benefited its operating companies over the last several months.
David N. Fuselier, CEO of Integrated Freight, stated, "This is not a typical fourth quarter for most of the trucking industry. Overall freight demand is down substantially because of continued weakness in the domestic economy. Moreover, this year retailers bolstered their inventories early to avoid the prospect of another costly supply chain interruption similar to the West Coast port work stoppages in 2014." Fuselier continued: "This weaker-than-expected demand has actually benefited Integrated Freight substantially. Our three niche carriers typically transport very little retail merchandise and, as a result, we have experienced only a marginal drop in total freight demand. However, other motor carriers have been unable to fully utilize their drivers and are reporting continued driver retention problems. Integrated, on the other hand, has experienced solid driver recruiting and retention. Operating at full capacity remains our goal, regardless of seasonality."
"This is not an isolated or short-term trend," said Hank Hoffman, IFCR president. "In late October, the American Trucking Associations issued an updated forecast stating that the truck driver shortage in the United States will be even worse than expected over the next several years. Driver recruiting, development, and retention is a critical part of Integrated's niche carrier strategy and our calendar fourth quarter experience demonstrates that our strategy is working."
IFCR management also provided the following guidance:
- Projected revenues for the fiscal year end March 2016 remain consistent at $24,000,000, including its July acquisition of American Transportation and Logistics.
- Projected EBITDA will exceed $2,000,000 and will continue our third consecutive year of favorable results.
- Our new auditors are completing the 10K and follow on 10Qs and we expect the filings soon.
- We continue to pursue acquisitions, as is our mission, and expect to conclude at least one more acquisition during this fiscal year.
- Over the past month management has fielded countless calls from shareholders regarding our history, strategy and operations. Management is grateful that Integrated's shareholders express their opinions and continue to support the Company's efforts.
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
David N. Fuselier, CEO of Integrated Freight, stated, "This is not a typical fourth quarter for most of the trucking industry. Overall freight demand is down substantially because of continued weakness in the domestic economy. Moreover, this year retailers bolstered their inventories early to avoid the prospect of another costly supply chain interruption similar to the West Coast port work stoppages in 2014." Fuselier continued: "This weaker-than-expected demand has actually benefited Integrated Freight substantially. Our three niche carriers typically transport very little retail merchandise and, as a result, we have experienced only a marginal drop in total freight demand. However, other motor carriers have been unable to fully utilize their drivers and are reporting continued driver retention problems. Integrated, on the other hand, has experienced solid driver recruiting and retention. Operating at full capacity remains our goal, regardless of seasonality."
"This is not an isolated or short-term trend," said Hank Hoffman, IFCR president. "In late October, the American Trucking Associations issued an updated forecast stating that the truck driver shortage in the United States will be even worse than expected over the next several years. Driver recruiting, development, and retention is a critical part of Integrated's niche carrier strategy and our calendar fourth quarter experience demonstrates that our strategy is working."
IFCR management also provided the following guidance:
- Projected revenues for the fiscal year end March 2016 remain consistent at $24,000,000, including its July acquisition of American Transportation and Logistics.
- Projected EBITDA will exceed $2,000,000 and will continue our third consecutive year of favorable results.
- Our new auditors are completing the 10K and follow on 10Qs and we expect the filings soon.
- We continue to pursue acquisitions, as is our mission, and expect to conclude at least one more acquisition during this fiscal year.
- Over the past month management has fielded countless calls from shareholders regarding our history, strategy and operations. Management is grateful that Integrated's shareholders express their opinions and continue to support the Company's efforts.
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
