Country Wide Transport Reports Third Quarter Results.EAST ROCHESTER East Rochester is the name of the following places in the United States:
Country Wide Transport Services The collective functions of layers 1 through 4 of the OSI model. Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CWTV CWTV Child Witness to Violence Program ) Friday reported revenues of $8,290,000 and net income of $211,000, or $.05 per basic share, for the three months ended March 31, 1999. This compares with revenues of $8,291,000 and net income of $224,000, or $.05 per basic share, for the third quarter of last year. For the nine months ended March 31, 1999, revenues amounted to $27,055,000 and net income was $521,000, or $.12 per basic share, compared with revenues of $25,444,000 and net income of $628,000, or $.15 per basic share, for the same period a year earlier. Timothy Lepper, president and chief executive officer of Country Wide Transport Services, commented that "our marketing strategies during the third quarter successfully replaced a previously announced decrease in revenues from our largest customer. By continuously broadening our customer base, we are becoming less reliant on any specific customer." Country Wide Transport Services' subsidiary, Vertex Transportation Inc., provides complete transportation logistics services throughout 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. , Canada and Mexico as a freight forwarder 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. and logistics management company. This news release contains forward-looking statements indicating that the company "anticipates," "expects" or "believes" certain events or results that have not yet occurred. Such forward-looking statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions 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, Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements involve known and unknown factors, risks and uncertainties that may cause the company's actual results in future periods to differ materially from the results that the company now anticipates or believes will come to pass.
Country Wide Transport Services Inc.
Financial Highlights
(unaudited)(000 omitted)
Three Months Ended Nine Months Ended
March 31, March 31,
1999 1998 1999 1998
Revenues $ 8,290 $ 8,291 $27,055 $25,444
Operating income 235 213 646 777
Net income 211 224 521 628
Earnings per common share:
Basic $ .05 $ .05 $ .12 $ .15
Diluted $ .04 $ .04 $ .10 $ .13
Weighted average number
of common shares:
Basic 4,248 4,248 4,248 4,248
Diluted 4,968 5,003 4,994 4,984
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