ECTE, this paints a bleak picture of its future........
Even with the cost reductions contemplated by the suspension of operations announced today, no assurances can be given that Echo will be able to fund its needs beyond September 30, 2014. In addition, it is possible that Echo's liquidity may run out sooner.
Echo is reviewing strategies to address its liquidity needs. However, no assurances can be given that Echo will be successful in addressing its liquidity needs. If Echo is unable to address its liquidity needs, it may be required to file for protection under the U.S. Bankruptcy Code.
1:37 am Copart misses by $0.02, reports revs in-line (CPRT) : Reports Q4 (Jul) earnings of $0.39 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.41; revenues rose 9.5% year/year to $288.7 mln vs the $288.66 mln consensus.
