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Any one want to break that PR down?
nice broken english...reminds me of phishing emails I get, with them trying to get me to give up my banking info.
Still seems like a bargain right now IMO. Wonder if it will see those $30.00 levels again?
Usually if you do exactly the opposite of what the media tells you to do, you will make a lot of money. Go the opposite direction of the sheep :) All I have heard is how terrible the bank stocks are...haha, well look at them now, they are only going to keep climbing.
Can't argue with that. :)
CGFIA ready to go!
I have been, and may be again sometime. I sold all I had around 20-38 cents. I bought nearly all my shares under 9 cents.
that is 2 zeros in front of that 6, if I were an owner of this, that wouldn't sound very good to me LOL!
I guess .006
Bring on $3, then I can really load the boat.
WEll, escaped with a small profit here before the beheading. Going with WFR now.
I think this is an opportunity to add. The AKAM decline has brought this down IMO. It will be back fairly quickly. This buying window at this level wont be open very long IMO.
Well, I'm not going to laugh at people...losing money hurts. I would have been in the same boat had I not taken profits, especially the monster ones that were here. Previous scams have made me much more disciplined...no matter how good the story appears to be. It makes me sick to see this happen all the time. I really thought this Monk guy could be different. It doesn't appear that way as of now. Time will tell.
If this does open at triple 0's, I will buy some. I am guessing any where between .006 and .0006 will be the open when trading resumes.
Hows that for timing! Would love to hear some news from the company. This would launch to pennies quickly if it is anything of substance.
Agreed, a PR would be quite helpful.
CGFIA .0024 adding here. GL
This is going to pop as soon as they whackers are done IMO. I've seen this pattern before. Soon as you think the run is never going to happen....it happens. We will see. These things are like playing with fire, most of the time you get your arse burnt beyond recognition LOL!
yeah this was a couple weeks ago. Doubt those levels will be back.
Oh yeah, started grabbing this up at just under $6
this stock is dead. r/s will be forthcoming imo. It will be even more worthless after the r/s.
I'm guessing the open will be .0006
Keep on climbing.
I never heard a target. AKAM has about 2x the OS, and if they lose Netflix and LLNW gets it (which is the rumor) LLNW has a 3 year deal in place already... that could be huge IMO.
CGFIA looking thin now. $$$
Nearly a textbook bounce
Wow, up $2.29 today. Very nice. This CEO is top notch IMO.
because this company is a joke
CGFIA what you think guitarman?
May I say cha-ching!!!
Wow, it is sad to see many people in denial. The gig is up here. Everyone was duped. Some of us made money, some didn't. I have NEVER seen a penny stock come back from this type of situation. I guess denial is a form of justifying a mistake. The house of cards has fallen....game over.
Got in yesterday @ 4.28 I think the solar sector will be hot item in near future.
Grabbed some @ 2.58 holding long term.
YRC Worldwide Reports Third Quarter Results
8:30a ET November 5, 2010 (PR NewsWire)
YRC National Tonnage up 1.2% and YRC Regional up 2.1% from Second Quarter 2010
Achieved Significant Progress on Comprehensive Recovery Plan
YRC Worldwide Inc. (Nasdaq: YRCW) today reported its third quarter 2010 results. For the third quarter ending September 30, 2010, the company announced a net loss of $62 million and a $1.33 loss per share on average outstanding diluted shares of 46.5 million. As a comparison, the company reported a net loss of $159 million and a $66.66 loss per share in the third quarter of 2009 with average outstanding diluted shares of 2.4 million. The numbers of shares and the per share amounts for all periods presented within this release reflect the 1:25 reverse stock split which was effective on October 1, 2010.
"We are pleased with the continued support of our customers and our employees who remain focused on delivering results," stated Bill Zollars, Chairman, President and CEO of YRC Worldwide. "We have achieved significant progress on our comprehensive recovery plan with the ratification of our new labor contract and the renewal of our ABS facility."
For the third quarter of 2010, the company reported positive cash flow from operating activities of $5 million which included positive adjusted EBITDA which was in excess of working capital requirements, cash interest and restructuring professional fees. Adjusted EBITDA is a non-GAAP measure that reflects the company's earnings before interest, taxes, depreciation, and amortization expense, and further adjusted for letter of credit fees, equity-based compensation expense, net gains or losses on property disposals and certain other items, including restructuring professional fees and results of permitted dispositions and discontinued operations as defined in the company's credit agreement.
During the third quarter of 2010, the company issued $20.2 million in 6% notes and used the proceeds to retire approximately $20 million of 5% notes. The company repaid $25 million in borrowings under its asset-backed securitization ('ABS') facility, sold excess property of $36 million and entered into $3 million of new sale and financing leasebacks during the quarter. In addition, the company closed on the previously announced $38.7 million sale of the majority of its YRC Logistics business and used the net proceeds to pay down borrowings under the credit agreement. During 2010, the company has reduced its total debt by $73 million.
At September 30, 2010, the company reported cash and cash equivalents of $115 million, unrestricted revolver availability of $46 million and unused restricted revolver reserves of $123 million, subject to the terms of the company's credit agreement, for a total of $284 million.
"We continue to effectively manage our working capital, reduce debt and improve our cash flow, as demonstrated by the significant sequential improvement in our cash flow from operating activities from second quarter to third quarter," stated Sheila Taylor, Executive Vice President and CFO of YRC Worldwide.
As previously announced, during October 2010, the company renewed its ABS facility at $325 million through October 19, 2011.
Key Segment Information
Third quarter 2010 compared to the third quarter of 2009:
YRC National Transportation: tons per day down 13.0% and shipments per day down 12.2%; revenue per hundredweight up 2.8% and revenue per shipment up 1.9%.
YRC Regional Transportation: tons per day up 8.9% and shipments per day up 2.5%; revenue per hundredweight down 2.5% and revenue per shipment up 3.7%.
Third quarter 2010 compared to the second quarter of 2010:
YRC National Transportation: tons per day up 1.2% and shipments per day up 1.6%; revenue per hundredweight up 0.3% and revenue per shipment down 0.1%.
YRC Regional Transportation: tons per day up 2.1% and shipments per day up 1.8%; revenue per hundredweight up 0.1% and revenue per shipment up 0.5%.
Outlook
"With our continued operating momentum we expect to achieve positive adjusted EBITDA and be well within our credit agreement financial covenants in the fourth quarter of 2010," stated Taylor. "We are in discussions with appropriate stakeholders to complete the next steps of our comprehensive recovery plan and feel good about our progress."
In addition, the company has the following expectations for full year 2010:
Gross capital expenditures in the range of $20 million to $30 million
Excess property sales in the range of $70 million to $80 million
Sale and financing leasebacks of approximately $50 million
Effective income tax rate for continuing operations of approximately 3%
Review of Financial Results
YRC Worldwide Inc. will host a conference call for the investment analyst community today, Friday November 5, 2010, beginning at 9:30am ET, 8:30am CT. The conference call will be open to listeners via the YRC Worldwide Internet site yrcw.com. An audio playback will be available after the call also via the YRC Worldwide web site.
Certain Non-GAAP Financial Measures
Adjusted EBITDA is a non-GAAP measure that reflects the company's earnings before interest, taxes, depreciation, and amortization expense, and further adjusted for letter of credit fees, equity-based compensation expense, net gains or losses on property disposals and certain other items, including restructuring professional fees and results of permitted dispositions and discontinued operations as defined in the company's credit agreement. Adjusted EBITDA is used for internal management purposes as a financial measure that reflects the company's core operating performance. In addition, management uses adjusted EBITDA to measure compliance with financial covenants in the company's credit agreement. However, this financial measure should not be construed as a better measurement than operating income, operating cash flow or earnings per share, as defined by generally accepted accounting principles.
Adjusted EBITDA has the following limitations:
Adjusted EBITDA does not reflect the interest expense or the cash requirements necessary to service interest or principal payments on our outstanding debt;
Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements;
Equity based compensation is an element of our long-term incentive compensation program, although adjusted EBITDA excludes it as an expense when presenting our ongoing operating performance for a particular period; and
Other companies in our industry may calculate adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.
Because of these limitations, adjusted EBITDA should not be considered a substitute for performance measures calculated in accordance with GAAP.
* * * * *
Forward-Looking Statements:
This news release and statements made on the conference call for shareholders and the investment community contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "continue," and similar expressions are intended to identify forward-looking statements. It is important to note that the company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including (among others) our ability to generate sufficient cash flows and liquidity to fund operations, which raises substantial doubt about our ability to continue as a going concern, inflation, inclement weather, price and availability of fuel, sudden changes in the cost of fuel or the index upon which the company bases its fuel surcharge, competitor pricing activity, expense volatility, including (without limitation) expense volatility due to changes in rail service or pricing for rail service, ability to capture cost reductions, changes in equity and debt markets, a downturn in general or regional economic activity, effects of a terrorist attack, labor relations, including (without limitation) the impact of work rules, work stoppages, strikes or other disruptions, any obligations to multi-employer health, welfare and pension plans, wage requirements and employee satisfaction, and the risk factors that are from time to time included in the company's reports filed with the SEC.
The company's expectations regarding future asset dispositions and sale and financing leasebacks of real estate are only its expectations regarding these matters. Actual dispositions and sale and financing leasebacks will be determined by the availability of capital and willing buyers and counterparties in the market and the outcome of discussions to enter into and close any such transactions on negotiated terms and conditions, including (without limitation) usual and ordinary closing conditions such as favorable title reports or opinions and favorable environmental assessments of specific properties.
The company's expectations regarding liquidity, working capital and cash flow are only its expectations regarding these matters. Actual liquidity, working capital and cash flow will depend upon (among other things) the company's operating results, the timing of its receipts and disbursements, the company's access to credit facilities or credit markets, the company's ability to continue to defer interest and fees under the company's credit agreement and ABS facility and interest and principal under the company's contribution deferral agreement, the continuation of the wage, benefit and work rule concessions under the company's modified labor agreement and temporary cessation of pension contributions, and the factors identified in the preceding paragraphs.
The company's expectations regarding its capital expenditures are only its expectations regarding this matter. Actual expenditures could differ materially based on a number of factors, including (among others) the factors identified in the preceding paragraphs.
The company's expectations regarding its compliance with its credit agreement covenants are only its expectations regarding these matters. Whether the company satisfies the covenants under its credit agreement is subject to a number of factors, including (among others) the factors identified in the preceding paragraphs.
The company's expectations regarding its effective tax rate are only its expectations regarding this rate. The actual rate could differ materially based on a number of factors, including (among others) variances in pre-tax earnings on both a consolidated and business unit basis, variance in pre-tax earnings by jurisdiction, impacts on our business from the factors described above, variances in estimates on non-deductible expenses, tax authority audit adjustments, change in tax rates and availability of tax credits.
The company's expectations regarding its ability to complete its comprehensive recovery plan are only its expectations regarding these matters. Whether the company is able to complete its comprehensive recovery plan is dependent upon a number of factors including (among others) the company reaching agreement with its stakeholders and interested investors and closing transactions on negotiated terms and conditions, including (without limitation) any closing conditions that the company's stakeholders and investors may require.
That is one laughable PR!!! You got to be freaking kidding me.
suspension is never a good thing, glad I got out of this one...whew.
I've got my bet placed.
i got the same message
Nice gap up today.