Coach USA Announces Five Acquisitions Totaling $50 Million in Annualized Revenues.HOUSTON--(BUSINESS WIRE)--August 3, 1998--Coach USA, Inc., (NYSE NYSE See: New York Stock Exchange : CUI (Character-based User Interface) A user interface that uses the character, or text, mode of the computer, such as DOS and Unix. In order to instruct the computer, commands are typed in. Contrast with GUI. ), announced today that it has acquired five additional motorcoach and passenger ground transportation companies having total annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of $50 million. These acquisitions include: The Maine Line of South Portland South Portland, city (1990 pop. 23,163), Cumberland co., SW Maine, on the Fore River and Casco Bay, part of the Portland metropolitan area; separated from Falmouth (now Portland) as part of the town of Cape Elizabeth 1765, separated from Cape Elizabeth and inc. 1898. , ME; One Bus of Newark, NJ; Coach Lines Group of Milwaukee, WI; Gray Line of Salt Lake City, UT; and Central Charter and Tours of Waynesburg, PA. These acquisitions bring the total revenue acquired in 1998 to approximately $215 million and increase the Company's annualized run rate to $840 million. Richard Kristinik, Chairman and Chief Executive Officer, commented, "We are very pleased with this group of acquisitions as they have strengthened operations in the Northeast while adding a new presence in several other key strategic areas." Coach USA Coach USA is an American transportation service provider that offers scheduled bus service, city sightseeing, tour and charter bus service. Its main focus is in the New York Metropolitan Area. is the largest provider of motorcoach tour, charter, commuter and transit services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Note: This press release contains forward-lookingstatements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on the current plans and expectations of Coach USA, Inc. and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, among others, risks associated with acquisitions, fluctuations in operating results because of acquisitions and variations in stock prices, changes in government regulations, competition, risks of operations, growth of the newly acquired businesses and risks associated with expanding new advertising opportunities.
CONTACT: Coach USA, Inc.
Richard Kristinik, Chairman and CEO
Larry King, Senior Vice President and CFO
One Riverway, Suite 500
Houston, TX 77056-1921
1(888) COACH-US
or
Alan Kaiser
Investor Relations
Media: Eileen King
Morgen-Walke Associates, Inc.
(212) 850-5600
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion