NEWS!!IFCR $$ WORD IS GETTING OUT $$!! IFCR $$ NEWS @ 7am this morning!!
Integrated Freight Corp. (OTCBB: IFCR) FULL REPORT
The company has announced the filing of its SEC 10-Q report for the period ended December 31, 2014, its fiscal third quarter.
David N. Fuselier, CEO of Integrated Freight, stated, “During Q3 we incurred a small loss but were able to improve net income $250,000 over last year’s comparable period. We anticipated that Q3, which is a shoulder quarter for us, would be a loss or somewhat less profitable than other periods. Pre-holiday shipping and our environmental business are seasonally weaker during Q3.” Fuselier continued, “We’re not satisfied with any quarter that doesn’t deliver net income; we’re pleased nonetheless with the ongoing trend of the company’s business results.”
Financial Summary:
?For the quarter ending December 31, 2014 revenue decreased slightly to $4,754,706 from the same period the previous year due largely to reduced fuel surcharges related to lower market diesel fuel prices and somewhat weaker seasonal demand.
?Total Operating Expenses were down 7.8% for the quarter thanks to lower fuel and insurance costs as well as other ongoing improvements.
?The Company posted 43% quarterly and 93% year-to-date profitability improvements compared to last year.
?General and Administrative costs, a key to the integrated turnaround thus far, remain low and continue to set the tone for future business results improvements.
?Year-to-date the Company posted EBITDA of $1,126,000, a 45% increase over the same period last year.
“As anticipated, Q3 was seasonally weak for us as a niche motor carrier,” said Hank Hoffman, IFCR president. “Although our third quarter demand is typically somewhat weaker, the ongoing progress being made by the operating subsidiaries related to fuel consumption, safety, and other key cost areas is very satisfactory,” said Hank Hoffman, IFCR president. “As we complete our turnaround process and target acquisitions, it’s important to recognize the significant ongoing performance contributions of our subsidiary employees. We remain nearly $800,000 ahead of last year because of their efforts.”
