Janel World Trade Ltd., a global integrated transportation logistics and environmental services provider, today announced its financial results for its fiscal third quarter and first nine months ended June 30, 2010.
For the three months ended June 30, 2010, Janel posted record third-quarter revenue of $21.0 million, up 35.3 percent compared to same quarter fiscal 2009, marking the highest third-quarter revenue in the company’s history.
Janel also achieved record revenues for the second quarter of 2010, fueled by the “economic diversity” of the company’s customer base, which resulted in growing shipping demand for the company’s core transportation, customs and logistics services.
Third quarter 2010 net income was $166,634, or $.009 per fully diluted share, as compared to a third quarter 2009 net loss of $(109,597), or $(.006) per fully diluted share.
For the nine months ended June 30, 2010, Janel reported total revenue of $57.2 million, up 6.2 percent from the first nine months of fiscal 2009. Net income for the nine-month period of 2010 was $215,182, or $.012 per fully diluted share, as compared to earnings of $732,550 from the 2009 reported net loss of $(517,322), or $(.028) per fully diluted share.
“We are very pleased that our third-quarter results have continued to reflect the significant turnaround in our core business units from the same nine month period in 2009. The $732,550 year to date improvement in earnings from 2009 is a testament to the success in our corporate planning, strategy and the business plan execution by our people,” James N. Jannello, executive vice president and CEO stated in the press release.
Jannello also gave his forecast for the fourth quarter of 2010.
“Looking ahead, our expectation is for continued improvement in our financial results for the remainder of 2010, based on a continuing modest recovery in global economic conditions. Our customers are reporting an improvement in their businesses and they too remain cautiously optimistic about the remainder of the year. Having just experienced excellent shipping volumes in July, the first month of our final quarter for 2010, our expectation is that we can finish fiscal 2010 with at least a 12 percent growth in revenue from year-end 2009,” Jannello stated.
Jannello concluded by noting the company’s plans to boost its core segment and its plan to expand certain areas of business.
“We are continuing to focus on growing our core transportation logistics segment and our plan to add established books of business with higher than industry standard margins. We are exploring opportunities to expand existing traffic lanes and services that generate higher operating margins, which will continue to enhance the profitability of our business and add to the impressive business turnaround story we are writing,” he stated.
For more information on the company, visit www.janelgroup.net