GENCO Reports Financial Results for Fiscal Year, 2003.Business Editors PITTSBURGH--(BUSINESS WIRE)--Feb. 19, 2004 GENCO GENCO Generation Company (Pakistan) GENCO General Company today reported preliminary financial results for its fiscal year ended December 31, 2003. The Company reported gross revenue for the year of $409 million versus $373 million for 2002. Net revenue and gross margin grew by 14 and 16 percent respectively. During 2003, GENCO added $38 million in new business, most of it coming from expanded services to existing customers. "Our customers continue to be some of our best salespeople. Their confidence in our ability to take on new challenges in their business and deliver world class solutions has really driven our growth," said Jim Adams Jim Adams born (James Adams) is an American heavy metal guitarist. His is best known for being lead guitarist for thrash metal band Defiance. Joining the band in 1985, Adams quickly became an integral member of the band, co-writing much of their material and playing on all three of , vice-chairman. "GENCO's year-on-year increase in revenue demonstrates our continued success in delivering innovative supply chain and software solutions to our customers," said Herb Shear, chairman and chief executive officer. "As we explore new initiatives to diversify and expand our business, the recent formation of the Infrastructure Solutions business unit provides us with a strategic platform to deliver supply chain management solutions to federal government customers." In July 2003, GENCO acquired IOgistics, a leading provider of transportation management and consulting services based in Green Bay, Wisconsin Green Bay is the county seat of Brown County in the U.S. state of Wisconsin. The city is located at the head of its namesake Green Bay, a sub-basin of Lake Michigan, at the mouth of the Fox River. . "Why are we so excited about the combination of GENCO and IOgistics? We can deliver an unbiased, unique solution to our customers that will reduce their costs," said Larry Sur, vice chairman. "They form the heart of GENCO's Supply Chain Management business unit and have already made a substantial contribution to our growth." Founded over 100 years ago, GENCO is a leading third-party logistics A third-party logistics provider (abbreviated 3PL) is a firm that provides outsourced or "third party" logistics services to companies for part, or sometimes all of their supply chain management function. provider and recognized leader in supply chain management solutions and execution excellence. With more than 80 facilities nationwide and over 100 software installations worldwide, GENCO services a wide array of customers, including Wal-Mart, Sears, Unilever, Target, J.C. Penney, Canadian Tire Canadian Tire (TSX: CTC, CTC.A) is one of Canada's 35 largest publicly traded companies and operates an inter-related network of businesses engaged in retailing (hardgoods, apparel and petroleum) and services (financial and automotive). , IKEA IKEA Ingvar Kamprad Elmtaryd Agunnaryd (Swedish home furnishings retailer founder's initials and location) , LeapFrog, Becton Dickinson BD (NYSE: BDX), is a medical technology company that manufactures and sells medical devices, instrument systems and reagents. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs 27,000 people in nearly 50 countries. , Kimberly-Clark, Kraft Foods, Reckitt Benckiser, Hewlett-Packard, John Deere, Hershey Foods, Novartis, Master Lock, and Harley-Davidson. For more information, please visit www.genco.com. |
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