Amertranz Worldwide Holding announces first quarter results.LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Nov. 6, 1996--Amertranz Worldwide Holding Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMTZ AMTZ Amtrak (railroad marking) ) announced today results for the first fiscal quarter ended September 30, 1996. For the three months ended September 30, 1996 operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. were $15,267,768 and loss from operations totaled $1,115,177. Net loss for the period totaled $1,497,219, or $0.26 per share. There were no comparable results for fiscal 1996 since the company was formed in January 1996. The company's initial public offering closed on July 3, 1996. Stuart Hettleman, president and chief executive officer said, "The results for the period were as expected. While our Caribbean Air Services subsidiary continued to show strong profitability, losses continued in our Amertranz Worldwide subsidiary, although sales of this subsidiary continued to grow. We expect that margins for our Amertranz Worldwide subsidiary will improve as sales volume increases, since costs are virtually fixed for this subsidiary. We were also pleased to announce in October the acquisition of Consolidated Air Services of Phoenix, Ariz., which specializes in the fashion industry. Besides being an important step in our growth strategy, we believe this acquisition makes us one of the largest and most proficient pro·fi·cient adj. Having or marked by an advanced degree of competence, as in an art, vocation, profession, or branch of learning. n. An expert; an adept. freight forwarders An individual who, as a regular business, assembles and combines small shipments into one lot and takes the responsibility for the transportation of such property from the place of receipt to the place of destination. for the fashion industry." Amertranz Worldwide Holding Corp. provides freight forwarding services through its wholly-owned subsidiaries, Amertranz Worldwide Inc. and Caribbean Air Services Inc. The company also provides total logistics services.
Amertranz Worldwide Holding Corp.
Financial Highlights
First Fiscal Quarter
Ended September 30, 1996
Operating revenues $15,267,768
Operating loss ($1,115,177)
Net (loss) ($1,497,219)
Net (loss) per share ($0.26)
Weighted average number
of shares outstanding 5,851,504
CONTACT: Amertranz Worldwide Holding Corp., Lake Success Stuart Hettleman, 516/326-9000, ext. 200 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Adam I. Friedman/Joseph A. Mansi, 212/682-6300 ext.215/205 |
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