Quality Distribution Inc. Issues Q4 2008 Mixed Guidance; Issues Q1 2008 Revenue Guidance Below Analysts' Estimates; Issues Mixed Q1 2008 Earnings Guidance
February 10, 2009 |
| Quality Distribution Inc. announced that for fourth quarter of 2008, it expects revenue of $168.1 million, net income of $13.0 million, or $0.66 per diluted share and excluding adjustment items adjusted loss per diluted share of $(0.01). For fiscal 2008, it expects revenue of $815.3 million, net income of $12.1 million, or $0.62 per diluted share and $0.02 adjusted earnings per diluted share. Fourth quarter of 2008 earnings included the following items that are not part of regular operating activities: net gain on early extinguishment of debt-$16.2 million pre-tax, Gain on pension settlement of $3.4 million pre-tax, Charge for restructuring costs of $1.3 million pre-tax. According to Reuters Estimates, analysts were expecting the Company to report revenues of $193.7 million, net income of $0.90 million and EPS of $0.01 for fourth quarter of 2008; revenues of $840.87 million, net income of $1.90 million and EPS of $0.07 for fiscal 2008. |
Quality Distribution Inc. Announces Management Change
July 28, 2008 |
| Quality Distribution Inc. announced the appointment of Stephen R. Attwood as Senior Vice President and Chief Financial Officer (CFO). |
Quality Distribution Inc. Appoints Thomas M. White As Chairman
May 15, 2008 |
| Quality Distribution Inc. announced the election of Thomas M. White as Chairman of the Board. |
Quality Distribution Inc. Announces Reduction In Workforce
April 14, 2008 |
| Quality Distribution Inc. announced that it has reduced its workforce. Most of the reductions occurred at the Company's Tampa, FL headquarters where approximately 17% of the positions were eliminated. The Company eliminated approximately sixty positions and expects a reduction in payroll related cost in excess of $5 million dollars annually. |
Quality Distribution Inc. Issues Q4, FY 2007 Guidance
February 12, 2008 |
| Quality Distribution Inc. announced that it estimates revenue (excluding fuel surcharge) for the fourth quarter of 2007 to be approximately $159.0 million. The Company expects to record a pre-tax loss for the fourth quarter 2007 of approximately $15.5 million. Applying a normalized tax rate of 39% to the expected pre-tax loss results in a fully diluted loss per share for the fourth quarter 2007 of ($0.49). The estimated results for the fourth quarter 2007 include 2 weeks of results from recent acquisition of Boasso, which closed on December 18, 2007. The Company estimates revenue (excluding fuel surcharge) for fiscal 2007 to be approximately $656.0 million. The Company expects a pre-tax loss in fiscal 2007 of approximately $9.7 million. |
Recent News