Country Wide Transport Services Inc. announces that it anticipates lower than expected results.FONTANA, Calif.--(BUSINESS WIRE)--July 6, 1995--Country Wide Transport Services The collective functions of layers 1 through 4 of the OSI model. Inc. (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 :CWTS CWTS Civic Welfare Training Service (Phillipines) CWTS Christian Witness Theological Seminary (Concord, CA) CWTS Chinese Wireless Telecommunication Standard ) Thursday announced that it anticipates lower than expected results for the fourth quarter and the year ended June 30, 1995. William A. Martindale, chairman, president and chief executive officer of Country Wide Transport Services, stated, ``While we anticipate that fourth-quarter results will not be as disappointing as the company's third-quarter results, we are nonetheless taking decisive actions. ``The loss during the third quarter, ended March 31, 1995, was primarily attributable to our subsidiary, Nationwide Produce Co. Since some losses have carried over into the fourth quarter, the board of directors has initiated a program to eliminate or downsize Downsize Reducing the size of a company by eliminating workers and/or divisions within the company. Notes: When a company downsizes, it is attempting to find ways to improve efficiency and increase profitability. It is sometimes referred to as trimming the fat. certain Nationwide operations.'' Country Wide Transport Services subsidiary, Country Wide Truck Service Inc., provides truckload transportation of temperature- controlled commodities Controlled commodities Commodities regulated by the Commodities Exchange Act of 1936 in order to prevent fraud and manipulation in commodities futures markets. , as well as a complete logistics service for its customers throughout the United States and Canada. Nationwide Produce, the company's product sales operation, imports, exports and distributes organic and conventional produce domestically and internationally. CONTACT: Country Wide Transport Services Inc. William A. Martindale, 213/765-1840 |
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