JAMAICA, NY / ACCESSWIRE / August 11, 2014 / Janel World Trade, Ltd. (OTCQB: JLWT), a full-service global provider of integrated transportation logistics, announced today the financial results for its third quarter ended June 30, 2014.
Third Quarter 2014 Results
For the three months ended June 30, 2014, Janel reported revenue of $11,121,377 an increase of $337,896 or 3.1% compared to the three months ended June 30, 2013.
For the three months ended June 30, 2014 the Company reported a loss from continuing operations before income taxes of $(70,662) compared to the prior year reported income from continuing operations before income taxes of $28,976.
For the three months ended June 30, 2014 and after losses from discontinued operations the Company reported a net loss of $(99,984) or $(0.00) per fully diluted share, compared to the prior year reported net loss of $(220,632) or $(0.01) per fully diluted share.
Year-To-Date 2014 Results
For the nine months ended June 30, 2014, Janel reported revenue of $32,847,671 an increase of $940,323 or 2.9% compared to the nine months ended June 30, 2013.
For the nine months ended June 30, 2014, after a one-time non-cash charge to SG&A of $237,492 for the issuance of stock options on October 30, 2013, the Company reported a loss from continuing operations before income taxes of $(343,764) compared to the prior year reported loss from continuing operations before income taxes of $(342,718).
For the nine months ended June 30, 2014 and after losses from discontinued operations the Company reported a net loss of $(403,016) or $(0.01) per fully diluted share, compared to the prior year reported net loss of $(710,978), or $(0.03) per fully diluted share.
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About Janel World Trade, Ltd.
Janel World Trade, Ltd. is a global provider of integrated logistics; including domestic and international freight forwarding via multi-modal carriers, leading-edge, end-to-end, supply-chain technology, customs brokerage, warehousing and distribution, and other transportation-related services. With offices throughout the U.S. (New York, Chicago, Los Angeles, and Atlanta) and a network of independent international agents in approximately 52 countries, the Company provides the comprehensive logistics services and technology necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission.
Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTCQB Bulletin Board under the symbol "JLWT". Additional information on the Company is available on its website at http://www.janelgroup.net
Forward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Contact:
Investor Relations
Janel World Trade
(718) 527-3800
[email protected]
SOURCE: Janel World Trade Ltd