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EA earnings are about to come out. Let's hope they are good to show the video game companies are improving.
Exactly! I don't get this market any more. No reason we shouldn't be at $4 or higher today.
We need some volume! Where are all the buyers at? I've loaded all I can at the moment but this thing is just sitting there with no action and with news like we got today it should be rocketing!
Should make for a great day!
Well we will either be real happy in two weeks or working for food haha!
I hate to see this stock has driven off some good people like you Atlanta. I'm staying in because I'm down over 50% and I refuse to give that away. But I understand your decision. Good luck with your new pick. So far out of all of my stocks the only one green is Green Mtn I bought yesterday. Guess we will hope it stays green.
I highly doubt you are a real pastor because you lie sir. Aern is down 20% today. Far from a green close. I wish you guys would leave AERN to us and move on.
AERN is down 20% today. Where do you get 8?
Will do thanks. And if it sells off a little more that's fine but I believe it's way oversold today so I'm in it for the long term and can wait. ;)
HAHAHA! Well one good thing came from today and that's GMCR crashed and I got in it after watching it for months. Wish I had all of my AERN money in it at the moment.
I placed an order for $24.75 and crossed my fingers and started thinking I wasn't going to get it and barely made it down there long enough and got it. I have been watching GMCR for months now and actually was going to buy in when it was nearing $70 a share a month or so ago and didn't. Boy am I glad I didn't!! Finally looks like I might have jumped in at the bottom of a unnessary selloff IMO. GLTA!
Sorry about that. Not sure where I got ALL from haha. Rough morning today.
Where the hell did I get ALL? LOL Sorry about that. Rough morning.
I'm ready to DUMP!! I'm sick of this circus show going on here! It's like being at a damn daycare full of little 4 and 5 year olds running around screaming. I'm starting to hate this stock. Mackie1 might have had the right idea.
COME ON STAN and AL!
APS= ALLPENNYSTOCKS.COM
50/50 in 30 more wells sounds good. They are working which is all we can ask for. Get them pumping boys!
Good NEWS!
YRC Worldwide Achieves Continued Year-over-Year First Quarter Operating Improvement --Results Build on Agreements with Lenders that Provide Years of Financial Flexibility -- YRC Freight tons per day up 3.5%, revenue per hundredweight up 3.3%, operating revenue up 8.1% -- Regional tons per day up 6.0%, revenue per hundredweight up 4.5%, operating revenue up 9.8% OVERLAND PARK, Kan., May 3, 2012 /PRNewswire via COMTEX/ --
YRC Worldwide Inc. (YRCW) today reported financial results for the first quarter of 2012. Consolidated operating revenue for the seasonally slow first quarter of 2012 was $1.194 billion, up 6.4% over 2011, and consolidated operating loss was $48.8 million, which included an $8.4 million loss on asset disposals. As a comparison, the company reported consolidated operating revenue of $1.123 billion for the first quarter of 2011 and a consolidated operating loss of $68.4 million, which included a $3.0 million gain on asset disposals. On Monday, the company also announced that 100% of its senior credit facility lenders agreed to reset certain financial covenants over the life of the loans and allow the company to retain all proceeds from the auction of certain surplus properties to pay or settle workers' compensation and bodily injury and property damage ("BIPD") claims. In addition, the company reported, on a non-GAAP basis, adjusted EBITDA for the first quarter of 2012 of $15.3 million, up from negative adjusted EBITDA of $1.3 million during the comparable period in 2011 (as detailed in the reconciliation below). On a year-over-year basis, adjusted EBITDA improved $16.6 million, even after taking into consideration approximately $23.0 million of multi-employer pension plan expense that the company incurred in the first quarter of 2012 but not in 2011. "We are experiencing increased efficiencies at each of our operating companies. Our employees are responding extremely well to our operating changes to regain a leading position in the LTL industry, and earlier this week, our senior credit facility lenders gave us a unanimous vote of confidence by amending those facilities to increase our liquidity by allowing us to retain the proceeds from the disposition of some excess real estate and increasing our financial flexibility for the foreseeable future. This is an exciting time at YRCW as our team now has the financial flexibility and the tools to take this business to the next level," stated James Welch, chief executive officer of YRC Worldwide. "Our plan is to continue building on this positive momentum throughout 2012 with the determination of delivering consistent, high-quality service that is both reliable and cost effective. The feedback we're getting is that our operating companies are providing the service levels our customers expect, and they are rewarding us with increased levels of business as our first quarter results indicate," Welch said. YRC Freight delivered year-over-year improvement in operating revenues, which increased 8.1% to $789.1 million; tonnage per day increased 3.5%; shipments per day increased 2.8%; revenue per hundredweight increased 3.3%; and revenue per shipment increased 4.0%. Regional Transportation also delivered year-over-year improvements in operating revenues, which increased 9.8% to $402.0 million; tonnage per day increased 6.0%; shipments per day increased 4.3%; revenue per hundredweight increased 4.5%; and revenue per shipment increased 6.2%. "These year-over-year core operating improvements show promise and indicate we are on the right path. However, we are still working to address some outstanding issues related to previous decisions that have affected the pace of our recovery," stated Welch. "Our workers' compensation claims grew rapidly during the Yellow Transportation/Roadway Express integration. These claims increased our self-insured reserves as the company was not strategic in settling open claims at that time." "To address these injury related issues, we have implemented the most robust employee safety training program in recent company history, and we are already seeing meaningful improvements in safety performance. This continued commitment to safety is the most important long-term investment we can make in our employees. With our intense focus on safety improvements, we anticipate workers' compensation claims will continue to decrease," Welch said. "I continue to be pleased by the performance trends at Holland, Reddaway, and New Penn. All three of our regional carriers are providing best-in-class service and have improved the operational components of their companies," Welch said. "I am really proud of the employees at all three of these companies. They are bringing our vision of industry leadership to life for all to see. Our emphasis now will be on improving our market share and capitalizing on our operating leverage to continue increasing profitability," stated Welch. "Having set in motion the turnaround and subsequent operating successes at Holland, Jeff Rogers, president of YRC Freight, is leading the efforts at YRC Freight with the exact same passion and enthusiasm. The YRC Freight team recently implemented the most significant network redesign in the past decade. This network optimization is engineered to more efficiently handle shipments and reduce unnecessary lane miles," said Welch. "The redesigned network sets the blueprint for continuing gains in efficiency and customer service for YRC Freight. Nearly every day, I hear from an employee of YRC Freight who is experiencing the results of our initial progress. I am proud of their drive to bring customers back and serve them like never before," stated Rogers. At March 31, 2012, the company's cash, cash equivalents and availability under its $400 million multi-year asset-based loan facility ("ABL") were $240.7 million, which marks the best first quarter liquidity position the company has reported since 2009. The ABL borrowing base was $343.3 million as of March 31, 2012 as compared to $360.5 million as of December 31, 2011. As a comparison, the company's cash, cash equivalents and availability under its ABL were $276.6 million at December 31, 2011 and $164.8 million of cash and availability at March 31, 2011. For the three months ended March 31, 2012, cash used in operating activities was $17.1 million as compared to $46.3 million for the three months ended March 31, 2011, an improvement of $29.2 million. This improvement in cash used for operations in 2012 was inclusive of a year-over-year increase of $21.0 million of cash paid for interest, an approximate $21.0 million of cash paid for multi-employer pension plans and a one-time payout of executive severance benefits to former executives of $12.3 million. Other On April 27, 2012, the company completed Amendment No. 2 to its Amended and Restated Credit Agreement ("Term Credit Agreement") which reset the covenants regarding minimum Consolidated EBITDA, maximum Total Leverage Ratio and minimum Interest Coverage Ratio (as such terms are defined in the Term Credit Agreement) for each of the remaining test periods. In addition to resetting the covenants, the amendment also allows the company to retain 100% of the proceeds, related to the auction of certain of its surplus properties resulting from network integration in March 2009, for payment or settlement of workers' compensation or BIPD claims. We also completed Amendment No. 3 to our ABL Credit Agreement to reset the minimum Consolidated EBITDA covenant in a manner identical to the Term Credit Agreement. "The continued support of our lenders gives us the operating flexibility we need to grow the business and to continue providing the service our customers have become accustomed to receiving since the new management team took over. With the completion of these amendments and our renewed focus on the North American LTL shipping market, we are positioning ourselves to regain the title of the most respected LTL carrier in North America," said Jamie Pierson, chief financial officer of YRC Worldwide. Non-GAAP Financial Measures Adjusted operating income (loss) is a non-GAAP measure that reflects the company's operating income (loss) before 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. 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 and adjusted operating income (loss) are used for internal management purposes as financial measures that reflect the company's core operating performance. In addition, management uses adjusted EBITDA to measure compliance with financial covenants in the company's credit agreement. Free cash flow and adjusted free cash flow are non-GAAP measures that reflect the company's operating cash flow minus gross capital expenditures and operating cash flow minus gross capital expenditures, excluding the restructuring costs included in operating cash flow, respectively. However, these financial measures should not be construed as better measurements than operating income, operating cash flow, net income or earnings per share, as defined by generally accepted accounting principles. Adjusted operating income (loss), adjusted EBITDA and adjusted free cash flow have the following limitations: Adjusted operating income (loss) and adjusted EBITDA do not reflect the interest expense or the cash requirements necessary to fund restructuring professional fees, letter of credit fees, 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 operating income (loss) and adjusted EBITDA exclude either certain union employee equity-based compensation expense or all of it as an expense, respectively, when presenting our ongoing operating performance for a particular period; Adjusted free cash flow excludes the cash usage by the company's restructuring activities, debt issuance costs, equity issuance costs and principal payments on our outstanding debt and the resulting reduction in the company's liquidity position from those cash outflows; Other companies in our industry may calculate adjusted operating income (loss), adjusted EBITDA and adjusted free cash flow differently than we do, limiting their usefulness as a comparative measure. Because of these limitations, adjusted operating income (loss), adjusted EBITDA, free cash flow and adjusted free cash flow should not be considered a substitute for performance measures calculated in accordance with GAAP. We compensate for these limitations by relying primarily on our GAAP results and using adjusted operating income (loss), adjusted EBITDA, free cash flow and adjusted free cash flow as secondary measures. The company has provided reconciliations of its non-GAAP measures (adjusted operating income (loss), adjusted EBITDA, free cash flow and adjusted free cash flow) to GAAP measures within the supplemental financial information in this release. Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Words such as "will," "expect," "intend," "anticipate," "believe," "project," "forecast," "propose," "plan," "designed," "enable" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain and are subject to significant business, economic, competitive, regulatory and other risks, uncertainties and contingencies, known and unknown, many of which are beyond our control. Our future financial condition and results could differ materially from those predicted in such forward-looking statements because of a number of factors, including (without limitation) our ability to generate sufficient cash flows and liquidity to fund operations and satisfy our obligations related to our substantial indebtedness and lease and pension funding requirements; our ability to finance the maintenance, acquisition and replacement of revenue equipment and finance other necessary capital expenditures; changes in equity and debt markets; general or regional economic activity, including (without limitation) customer demand in the retail and manufacturing sectors; the success of our management team in implementing its strategic plan and operational and productivity improvements, including (without limitation) our continued ability to meet high on-time and quality delivery performance standards, and the impact of those improvements on our future liquidity and profitability; inclement weather; price and availability of fuel; sudden changes in the cost of fuel or the index upon which we base our fuel surcharge and the effectiveness of our fuel surcharge program in protecting us against fuel price increases; competition and competitive pressure on service and pricing; expense volatility, including (without limitation) expense volatility due to changes in rail service or pricing for rail service; our ability to comply and the cost of compliance with federal, state, local and foreign laws and regulations, including (without limitation) laws and regulations for the protection of employee safety and health and the environment; terrorist attack; labor relations, including (without limitation) the continued support of our union employees with respect to our strategic plan, the impact of work rules, work stoppages, strikes or other disruptions, our obligations to multi-employer health, welfare and pension plans, wage requirements and employee satisfaction; the impact of claims and litigation to which we are or may become exposed; and other risks and contingencies, including (without limitation) the risk factors that are included in our reports filed with the Securities and Exchange Commission, including those described under "Risk Factors" in our annual report on Form 10-K and quarterly reports on Form 10-Q. About YRC Worldwide YRC Worldwide Inc., a Fortune 500 company headquartered in Overland Park, Kan., is the holding company for a portfolio of successful brands including YRC Freight, YRC Reimer, Holland, Reddaway, and New Penn, and provides China-based services through its JHJ joint venture. YRC Worldwide has one of the largest, most comprehensive less-than-truckload (LTL) networks in North America with local, regional, national and international capabilities. Through its team of experienced service professionals, YRC Worldwide offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. Please visit http://www.yrcw.com for more information. Web site: http://www.yrcw.com Follow YRC Worldwide on Twitter: http://twitter.com/yrcworldwide Investor Contact: Stephanie Fisher 913-696-6108 investor@yrcw.com Media Contact:Suzanne Dawson Linden, Alschuler & Kaplan 212-329-1420 sdawson@lakpr.com CONSOLIDATED BALANCE SHEETS YRC Worldwide Inc. and Subsidiaries (Amounts in thousands except share and per share data) March 31,December 31, 20122011 ASSETS(Unaudited) CURRENT ASSETS: Cash and cash equivalents$226,334$200,521 Restricted amounts held in escrow47,50259,680 Accounts receivable, net489,393476,793 Prepaid expenses and other119,595100,965 Total current assets882,824837,959 PROPERTY AND EQUIPMENT: Cost2,904,5413,074,858 Less - accumulated depreciation(1,615,614)(1,738,304) Net property and equipment1,288,9271,336,554 OTHER ASSETS: Intangibles, net113,147117,492 Restricted amounts held in escrow98,33796,251 Other assets98,23597,584 Total assets$2,481,470$2,485,840 LIABILITIES AND SHAREHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable$169,097$151,922 Wages, vacations, and employees' benefits214,768210,409 Other current and accrued liabilities296,056303,946 Current maturities of long-term debt9,9709,459 Total current liabilities689,891675,736 OTHER LIABILITIES: Long-term debt, less current portion1,385,9011,345,201 Deferred income taxes, net31,77031,687 Pension and post retirement436,766440,265 Claims and other liabilities368,958351,563 Commitments and contingencies SHAREHOLDERS' DEFICIT: Cumulative Preferred stock, $1.00 par value per share-- Common stock, $0.01 par value per share6968 Capital surplus1,904,9611,902,957 Accumulated deficit(2,015,684)(1,930,202) Accumulated other comprehensive loss(228,425)(234,100) Treasury stock, at cost (410 shares)(92,737)(92,737) Total YRC Worldwide Inc. shareholders' deficit (431,816)(354,014) Non-controlling interest-(4,598) Total shareholders' deficit(431,816)(358,612) Total liabilities and shareholders' deficit$2,481,470$2,485,840 STATEMENTS OF CONSOLIDATED COMPREHENSIVE LOSS YRC Worldwide Inc. and Subsidiaries For the Three Months Ended March 31 (Amounts in thousands except per share data) (Unaudited) Three Months 20122011 OPERATING REVENUE$1,194,255$1,122,886 OPERATING EXPENSES: Salaries, wages and employees' benefits703,826680,818 Equity based compensation expense1,053(1,053) Operating expenses and supplies293,235277,183 Purchased transportation119,635119,662 Depreciation and amortization49,02849,810 Other operating expenses67,91767,900 (Gains) losses on property disposals, net8,361(3,046) Total operating expenses1,243,0551,191,274 OPERATING LOSS(48,800)(68,388) NONOPERATING (INCOME) EXPENSES: Interest expense36,40538,803 Other, net(455)43 Nonoperating expenses, net 35,95038,846 LOSS BEFORE INCOME TAXES(84,750)(107,234) INCOME TAX BENEFIT(3,161)(4,551) NET LOSS(81,589)(102,683) LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTEREST3,893(489) NET LOSS ATTRIBUTABLE TO YRC WORLDWIDE INC.(85,482)(102,194) OTHER COMPREHENSIVE INCOME, NET OF TAX5,6753,639 COMPREHENSIVE LOSS ATTRIBUTABLE TO YRC WORLDWIDE INC.$(79,807)$(98,555) AVERAGE COMMON SHARES OUTSTANDING-BASIC6,893159 AVERAGE COMMON SHARES OUTSTANDING-DILUTED6,893159 BASIC LOSS PER SHARE$(12.40)$(643.56) DILUTED LOSS PER SHARE$(12.40)$(643.56) The number of shares and the per share amounts for 2011 reflect the 1:300 reverse stock split which was effective on December 1, 2011. 2011 results have also been restated for the effect of the change in accounting for prepaid tires which was effective on October 1, 2011. STATEMENTS OF CONSOLIDATED CASH FLOWS YRC Worldwide Inc. and Subsidiaries For the Three Months Ended March 31 (Amounts in thousands) (Unaudited) 20122011 OPERATING ACTIVITIES: Net loss$(81,589)$(102,683) Noncash items included in net loss: Depreciation and amortization49,02849,810 Paid-in-kind interest on Series A Notes and Series B Notes 6,262- Amortization of deferred debt costs1,0579,481 Equity based compensation expense (benefit)1,053(1,053) Deferred income tax benefit, net-(329) (Gains) losses on property disposals, net8,361(3,046) Other noncash items, net(2,017)1,799 Changes in assets and liabilities, net: Accounts receivable(16,379)(55,415) Accounts payable22,20718,988 Other operating assets(19,234)(21,936) Other operating liabilities14,15858,130 Net cash used in operating activities(17,093)(46,254) INVESTING ACTIVITIES: Acquisition of property and equipment(15,115)(10,062) Proceeds from disposal of property and equipment9,98111,577 Receipts from restricted escrow, net10,092- Other-(161) Net cash provided by investing activities4,9581,354 FINANCING ACTIVITIES: ABS borrowings, net-24,449 Issuance of long-term debt45,00052,775 Repayment of long-term debt(5,951)(15,130) Debt issuance costs(1,101)(3,526) Net cash provided by financing activities37,94858,568 NET INCREASE IN CASH AND CASH EQUIVALENTS25,81313,668 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD200,521143,017 CASH AND CASH EQUIVALENTS, END OF PERIOD$226,334$156,685 SUPPLEMENTAL CASH FLOW INFORMATION Interest paid$(31,530)$(10,514) Income tax refund, net7,82110,573 Lease financing transactions-8,985 Debt redeemed for equity consideration1,124- 2011 results have been restated for the effect of the change in accounting for prepaid tires which was effective on October 1, 2011. SUPPLEMENTAL FINANCIAL INFORMATION YRC Worldwide Inc. and Subsidiaries For the Three Months Ended March 31 (Amounts in thousands) (Unaudited) SEGMENT INFORMATION Three Months 20122011% Operating revenue: YRC Freight$789,094$730,0448.1 Regional Transportation402,044366,0699.8 Truckload-25,207n/m Other, net of eliminations3,1171,566 Consolidated1,194,2551,122,8866.4 Operating income (loss): YRC Freight(56,124)(51,702) Regional Transportation11,408(1,178) Truckload-(3,850) Corporate and other(4,084)(11,658) Consolidated$(48,800)$(68,388) Operating ratio: YRC Freight107.1%107.1% Regional Transportation97.2%100.3% Consolidated104.1%106.1% Operating ratio is calculated as (i) 100 percent (ii) minus the result of dividing operating income by operating revenue or (iii) plus the result of dividing operating loss by operating revenue, and expressed as a percentage. 2011 results for YRC Freight have been restated for the effect of the change in accounting for prepaid tires which was effective on October 1, 2011. SUPPLEMENTAL INFORMATION As of March 31, 2012Premium/Book (in millions)Par Value(Discount)Value Restructured term loan$301.6$90.9$392.5 ABL facility - Term A - (capacity $175M; borrowing base $119.4M; availability $14.4M) 105.0(6.9)98.1 ABL facility - Term B - (capacity $223.9M; borrowing base $223.9M; availability $0M)223.9(11.5)212.4 Series A Notes149.8(33.4)116.4 Series B Notes99.6(35.4)64.2 6% convertible senior notes69.4(9.4)60.0 Pension contribution deferral obligations136.1(0.5)135.6 Lease financing obligations314.8-314.8 5.0% and 3.375% contingent convertible senior notes1.9-1.9 Total debt$1,402.1$(6.2)$1,395.9 As of December 31, 2011Premium/Book (in millions)Par Value(Discount)Value Restructured term loan$303.1$98.9$402.0 ABL facility - Term A - (capacity $175M; borrowing base $136.1M; availability $76.1M) 60.0(7.6)52.4 ABL facility - Term B - (capacity $224.4M; borrowing base $224.4M; availability $0M)224.4(12.4)212.0 Series A Notes146.3(35.0)111.3 Series B Notes98.0(37.1)60.9 6% convertible senior notes69.4(10.3)59.1 Pension contribution deferral obligations140.2(0.6)139.6 Lease financing obligations315.2-315.2 5.0% and 3.375% contingent convertible senior notes1.9-1.9 Other0.3-0.3 Total debt$1,358.8$(4.1)$1,354.7 SUPPLEMENTAL FINANCIAL INFORMATION YRC Worldwide Inc. and Subsidiaries For the ThreeMonths Ended March 31 (Amounts in thousands) (Unaudited) Three months 20122011 Operating revenue$1,194,255$1,122,886 Adjusted operating ratio102.8%104.7% Reconciliation of operating loss to adjusted EBITDA: Operating loss$(48,800)$(68,388) (Gains) losses on property disposals, net8,361(3,046) Letter of credit expense8,0648,082 Restructuring professional fees, included in operating loss4658,489 Permitted dispositions and other(1,909)2,207 Adjusted operating loss(33,819)(52,656) Depreciation and amortization49,02849,810 Equity based compensation expense1,053(1,053) Restructuring professional fees, included in nonoperating loss-539 Other nonoperating, net(944)507 Add: Truckload EBITDA loss-1,548 Adjusted EBITDA$15,318$(1,305) Three months Adjusted EBITDA by segment:20122011 YRC Freight$(9,655)$(16,020) Regional Transportation29,09512,183 Corporate and other(4,122)2,532 Adjusted EBITDA$15,318$(1,305) Reconciliation of Adjusted EBITDA to adjusted free cash flow (deficit): Three months 20122011 Adjusted EBITDA$15,318$(1,305) Total restructuring professional fees(465)(9,028) Cash paid for interest(31,530)(10,514) Cash paid for letter of credit fees(9,556)- Working capital cash flows excluding income tax, net1,319(35,980) Net cash used in operating activities before income taxes(24,914)(56,827) Cash received from income taxes, net7,82110,573 Net cash used in operating activities(17,093)(46,254) Acquisition of property and equipment(15,115)(10,062) Free cash flow (deficit)(32,208)(56,316) Total restructuring professional fees4659,028 Adjusted free cash flow (deficit)$(31,743)$(47,288) Adjusted operating ratio is calculated as (i) 100 percent (ii) minus the result of dividing adjusted operating income by operating revenue or (iii) plus the result of dividing adjusted operating loss by operating revenue, and expressed as a percentage. 2011 results for YRC Freight have been restated for the effect of the change in accounting for prepaid tires which was effective on October 1, 2011. SUPPLEMENTAL FINANCIAL INFORMATION YRC Worldwide Inc. and Subsidiaries For the Three Months Ended March 31 (Amounts in thousands) (Unaudited) Three months YRC Freight segment20122011 Operating Revenue$789,094$730,044 Adjusted operating ratio105.3%106.2% Reconciliation of operating loss to adjusted EBITDA: Operating loss$(56,124)$(51,702) (Gains) losses on property disposals, net7,997445 Letter of credit expense6,5566,352 Adjusted operating loss(41,571)(44,905) Depreciation and amortization32,66727,882 Other nonoperating, net(751)1,003 Adjusted EBITDA$(9,655)$(16,020) Adjusted EBITDA as % of operating revenue-1.2%-2.2% Three months Regional Transportation segment20122011 Operating Revenue$402,044$366,069 Adjusted operating ratio96.7%100.8% Reconciliation of operating income (loss) to adjusted EBITDA: Operating income (loss)$11,408$(1,178) (Gains) losses on property disposals, net515(3,477) Letter of credit expense1,3731,602 Adjusted operating income13,296(3,053) Depreciation and amortization15,79115,238 Other nonoperating, net8(2) Adjusted EBITDA$29,095$12,183 Adjusted EBITDA as % of operating revenue7.2%3.3% Adjusted operating ratio is calculated as (i) 100 percent (ii) minus the result of dividing adjusted operating income by operating revenue or (iii) plus the result of dividing adjusted operating loss by operating revenue, and expressed as a percentage. 2011 results for YRC Freight have been restated for the effect of the change in accounting for prepaid tires which was effective on October 1, 2011. SUPPLEMENTAL FINANCIAL INFORMATION YRC Worldwide Inc. and Subsidiaries For the Three Months Ended March 31 (Amounts in thousands) (Unaudited) Corporate and other segmentThree months 20122011 Reconciliation of operating loss to adjusted EBITDA: Operating loss$(4,084)$(11,658) (Gains) losses on property disposals, net(151)(25) Letter of credit expense13547 Restructuring professional fees, included in operating loss4658,489 Permitted dispositions and other(1,909)2,207 Adjusted operating loss(5,544)(940) Depreciation and amortization5704,480 Equity based compensation expense1,053(1,053) Restructuring professional fees, included in nonoperating loss -539 Other nonoperating, net(201)(494) Adjusted EBITDA$(4,122)$2,532 Adjusted operating ratio is calculated as (i) 100 percent (ii) minus the result of dividing adjusted operating income by operating revenue or (iii) plus the result of dividing adjusted operating loss by operating revenue, and expressed as a percentage. YRC Worldwide Inc. Segment Statistics (amounts in thousands except workdays and per unit data) YRC Freight Y/YSequential 1Q121Q114Q11%% Workdays64.063.562.0 Total revenue(a)$792,765$735,472$789,0977.80.5 Total tonnage1,7381,6661,7144.31.4 Total tonnage per day27.1626.2427.643.5(1.7) Total shipments2,9882,8832,9323.61.9 Total shipments per day46.6845.4147.292.8(1.3) Total revenue/cwt.$22.80$22.07$23.033.3(1.0) Total revenue/shipment$265$255$2694.0(1.4) Total weight/shipment1,1641,1561,1690.7(0.4) Reconciliation of operating revenue to total picked up revenue: Operating revenue$789,094$730,044$804,500 Change in revenue deferral and other 3,6715,428(15,404) Total picked up revenue$792,765$735,472$789,097 Regional Transportation Y/YSequential 1Q121Q114Q11%% Workdays64.064.561.0 Total picked up revenue(a)$403,136$366,876$380,7179.95.9 Total tonnage1,8411,7501,7235.26.8 Total tonnage per day28.7627.1328.256.01.8 Total shipments2,4772,3932,3683.54.6 Total shipments per day38.7037.1038.824.3(0.3) Total revenue/cwt.$10.95$10.48$11.054.5(0.9) Total revenue/shipment$163$153$1616.21.2 Total weight/shipment1,4871,4631,4551.62.1 Reconciliation of operating revenue to total picked up revenue: Operating revenue$402,044$366,069$381,705 Change in revenue deferral and other 1,091807(988) Total picked up revenue$403,136$366,876$380,717 (a)Does not equal financial statement revenue due to revenue recognition adjustments between accounting periods. SOURCE YRC Worldwide Copyright (C) 2012 PR Newswire. All rights reserved Story ID: 1074359397 Keywords: ACCOUNTING, ACQUISITION, ANNUAL REPORT, BOOK, BUSINESS, CARRIER, CEO, CHINA, COMMERCIAL, CORPORATE, DEBT, DEFICIT, EARNINGS, EBITDA, EQUITY, EXECUTIVE, FEDERAL, FINANCE, FINANCIAL RESULTS, FREIGHT, GAAP, HEALTH, INDUSTRIAL, INVESTMENT, JOINT VENTURE, KANSAS, LABOR, LOCAL, MANUFACTURING, MARKET, MARKET SHARE, MEDIA, NASDAQ, NORTH AMERICA, PRESIDENT, PRODUCTIVITY, PROPERTY, REAL ESTATE, REGULATIONS, RESTRUCTURING, RETAIL, RETIREMENT, REVENUE, SALARIES, SHIP, SHIPPING, STANDARDS, STATISTICS, STOCK SPLIT, TAX, TAXES, TRAINING, TRANSPORTATION, TREASURY, TRUCKLOAD, UNIONS, WEATHER, WEB Symbols: YRCW
NEWS!!!!!!!!!!!
Grid Petroleum Corp: Enters into Letter of Intent to Acquire a 10 % Working Interest in the Garcia #3 Well DENVER, May 3, 2012
/PRNewswire via COMTEX/ --
Grid Petroleum Corp. (GRPR) : The Board of Directors are pleased to announce that Grid Petroleum has entered into a letter of Intent to acquire a Ten percent working interest, Seven point five percent net revenue interest, from a third party interest holder of the Garcia #3 well. (10.0 % WI, 7.5% NRI) This Letter of Intent is subject to the establishment of an acceptable, ironclad drilling start date for the Garcia #3 Well, which start date is to be determined and agreed to prior to definitive documentation completion. It is anticipated that the drilling start date will be announced and the closing of this transaction will take place prior to May 10, 2012. "The Company has been negotiating over the last few weeks with the third party interest holders to obtain this interest to allow the forward progress of the development of the Garcia #3 Well drilling program," stated Grid Petroleum Corp, President James Powell. "The Company is now in a position to have a significant impact on the jump starting of this well and looks forward to a successful start of drilling activity in the very near future. "The company will announce the start date which is a contingency to the closing of this investment." The Company previously announced the following based upon information provided by the operator of the Garcia #3, which was dependant upon all interest holders meeting its respective cash calls. PREVIOUSLY ANNOUNCED: "The Anticipated Start Date for the Drilling to Commence on the Garcia #3 shall be from April 21, 2012 to April 30, 2012. The delay has been due to the inability of a third party joint venture investor in the Garcia #3 well to meet its cash call to retain its participation interest. Grid Petroleum Corp is currently in negotiations to acquire an interest in the Garcia #3 well due to its recent availability. The company has determined that this participation will enable the further development of the Mutual Area of Interest in a timely basis." Contact: Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com http://www.ParksideCommunications.comhttp://www.gridpetroleum.com Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at http://www.sec.gov. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act. Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at http://www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330. SOURCE Grid Petroleum Corp. Copyright (C) 2012 PR Newswire. All rights reserved Story ID: 1074360392 Keywords: ACQUISITION, COMMERCIAL, COMMUNICATIONS, FORECASTS, GASOLINE, INVESTMENT, JOINT VENTURE, LEGAL, NATURAL GAS, NOTE, OIL, OIL AND GAS, PETROLEUM, PRESIDENT, SECURITIES, WISCONSIN Symbols: GRPR
Has anyone actually seen a bottle of Clotamin and does it have Sunpeaks Ventures listed anywhere on it?? SNPK says Sunpeaks Ventures, Inc ("Sunpeaks"), and wholly owned subsidiary Healthcare Distribution Specialists, LLC but...
The address on Clotamin's website is:
Global Nutritional Research
P.O. Box 182
Kensington, MD 20895-0182
How do we know they are even connected for real? Just curious. I've been watching on the sidelines the entire time and it's been quite a story.
I'm
Ready bro!
Let's get pumping aern.
You're right. Now it says 1.29 million
Bring it on Stan and Al! We need to hear about the hard work you guys have been doing lately.
That's what it showed on e trade.
I sure hope for news tomorrow my friend. I wish I could load up more shares but I just sold my two profit making stocks and loaded up on another one so I guess I'll hold and watch.
.0020! Really? Thanks guys for all of your help today posting aern. Great job! We need news and we need it tomorrow!!
Why is aern's market cap $600?
Market cap showing $612.00??
I wish I was one of those guys on the sideline watching and waiting surf. Right now is rock bottom and when we get news it's going to bolt faster than you can blink. If I was watching and waiting I'd be jumping in HEAVILY right now. If I had some more ammo I would be adding too! News and we strike oil!
Don't you mean #5 on most annoying? You re not doing a thing to help AERN.
It's ridiculous. And annoying! And the fact they are making money for doing it disgusts me.
This is BS! I decide to check in and hope something good is happening and sure enough just what I thought is going on. NOTHING! A bunch of copy and pasting whores and a stock that hasn't moved any because it needs REAL NEWS STAN! I'm going fishing.....
Funny how the buzz started at the stroke of midnight. Bring em in boys and girls. Maybe us regulars should just sit back and let you do your thing and see how it turns out........... Go fishin.
Well it looks like I'll be rich if what they say is true...... I'm holding my breath waiting for it........
Great, now I know not to waste my time checking in on this in the morning because I see the calvary has rode in again so I know where this is going......... COME ON STAN! Really? You are smarter than this. Great financials coming around the corner with oil pumping will get the ball rolling. Not these clowns.
Long lived AERN
Let's do it.
Yeah I've made some very stupid moves over this last year. I sure need to redeem myself with something right.
Oh great here we go again. Real news tomorrow please Stan.
I'm with ya bud! I may just add me another million on for good luck.
I want to see another almost 100 million share day. :)