Express Tracking @expresstracking - Tumblr Blog

Roadrunner Transportation Systems Announces Acquisition of R&M Transportation and Sortino Transportation

CUDAHY, Wis.–(BUSINESS WIRE)–Aug. 3, 2012–Roadrunner Transportation Systems, Inc.(NYSE: RRTS), announced today that it has acquired substantially all of the operating assets and business of R&M Transportation and all of the outstanding stock of Sortino Transportation, providers of truckload services based inOmaha, Nebraska, for approximately$24.4 million, plus an earn-out capped at$5 million. R&M and Sortino transport primarily refrigerated product throughoutthe United Statesutilizing a combination of independent contractors and a fleet of company-owned trailers. Roadrunner also announced today that it has amended and expanded its credit facility to$295 millionto provide enhanced liquidity and future growth capital. Under the terms of the amended credit facility, Roadrunner modified limits and terms and obtained a reduction in interest rates of approximately 100 basis points.

Mark DiBlasi, President and CEO of Roadrunner, said, “The acquisition of R&M and Sortino expands our refrigerated capacity in key lanes and broadens our customer base. In addition, R&M and Sortino’s Midwest presence enables us to more effectively cross-sell our truckload services because of their superior service and solid, long-term customer relationships. R&M and Sortino’s principal former owners and experienced management team will remain in place and are excited about the growth opportunities we collectively envision.”

“R&M’s and Sortino’s independent contractor business model and trailer capacity are an excellent complement to our existing Truckload & Logistics platform and will provide immediate growth opportunities in our refrigerated offering,” saidBrian van Helden, President of Roadrunner’s Truckload & Logistics business segment.

In 2011, R&M and Sortino together generated revenues of approximately$64.5 million. R&M and Sortino are expected to be accretive to Roadrunner’s earnings in 2012.

If you want to get roadrunner tracking service, please go to Express Tracking.

About Roadrunner Transportation Systems, Inc.

Roadrunner Transportation Systemsis a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and logistics, transportation management solutions, intermodal solutions, and domestic and international air. For more information, please visit Roadrunner’s website, www.rrts.com.

Safe Harbor Statement

This release contains forward-looking statements that relate to future events or performance. These statements reflect our current expectations, and we do not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the integration of acquired companies, competition in the transportation industry, the impact of the current economic environment, our dependence upon purchased power, the unpredictability of and potential fluctuation in the price and availability of fuel, the effects of governmental and environmental regulations, insurance in excess of prior experience levels, and other “Risk Factors” set forth in our most recentSECfilings.

Source:Roadrunner Transportation Systems, Inc.

Tom Hartley Promoted to Director of Safety

NEMF is pleased to announce the promotion of Tom Hartley to Director of Safety. Tom has worked in many capacities since starting with NEMF in 2003 from Dock Supervisor to Terminal Manger and most recently as Manager of Quality and Corporate Compliance.

With his Tom’s new responsibilities he will be visiting terminals on a regular basis and working closely with both drivers and managers alike to exceed safety expectations and standards. Tom will be based in our Harrisburg terminal with our Safety Group. Prior to working at NEMF, Tom worked at Con Way, Overnite & New Penn.

Tom resides in Duncannon, PA with his wife Mary Ann and has three daughters Rachael, Marisa, and Annie. Outside of work Tom is a volunteer fire fighter for 25 years and enjoys hunting and camping and spending time with his family.

Based in Elizabeth, NJ, family-owned less-than-truckload (LTL) carrier NEMF (www.nemf.com) serves its customers from terminals throughout the Northeast and Midwest, as well as Puerto Rico. It is the largest LTL carrier in the Northeast region. NEMF is a member of The Shevell Group of Companies (www.ShevellGroup.com), which also includes Carrier Industries (third-party logistics, dedicated fleet, warehousing), Eastern Freight Ways (asset-based truckload carrier), Apex Logistics (brokerage, nationwide truckload) and NEMF World Transport (non-vessel operating common carrier).

#NEMF

New Penn Receives Two 2012 Quest for Quality Awards for Performance Excellence

LEBANON, Pa., Aug. 6, 2012 /PRNewswire/ – New Penn (NASDAQ: YRCW) is honored to receive two awards presented by Logistics Management magazinein its 2012 Quest for Quality reader survey. The company was recognized for excellence in the categories of Northeast/Mid-Atlantic Regional LTL Carriers and Expedited Motor Carriers. For 18 years, New Penn has been the recipient of Quest for Quality awards.

“The Quest for Quality Awards are an important endorsement of our performance. This recognition means a great deal to New Penn employees, who are focused on providing the highest levels of service available. With this award, Logistics Management readers are telling the transportation marketplace that New Penn responds best to their needs for next-day morning deliveries, on-time performance, and damage-free handling,” said Steve Gast, president of New Penn.

The Quest for Quality program is regarded as one of the most important measures of customer satisfaction and performance excellence in the transportation and logistics industry. Quest for Quality winners are determined by the readers ofLogistics Management magazine. Logistics and supply chain decision makers rate providers in the areas of on-time performance, value, customer service, information technology and equipment/operations.

If you want to get New Penn tracking service, please go to Express Tracking.

About New Penn

New Penn, a regional less-than-truckload motor carrier based in Lebanon, Pa., provides industry-leading reliability and next-day service through a network of 25 service centers in the northeastern United States, Quebec, Canada and Puerto Rico. New Penn is widely regarded as one of the most efficiently operated transportation providers and has one of the lowest claim ratios in the industry. For more information, visit www.newpenn.com. New Penn is a subsidiary ofYRC Worldwide.

#New Penn

Roadrunner Transportation Systems Reports 2012 Second Quarter Results and Announces Third Quarter 2012 Guidance

CUDAHY, Wis.–(BUSINESS WIRE)–Aug. 1, 2012–Roadrunner Transportation Systems, Inc.(NYSE: RRTS), a leading asset-light transportation and logistics service provider, today reported financial results for the three and six months endedJune 30, 2012.

Roadrunner’s summary financial results for the three and six months endedJune 30are highlighted below. Second quarter diluted income per share available to common stockholders increased 33.3% over the prior year to$0.32.

Three Months EndedSix Months Ended(In thousands, except per share data)June 30,June 30,2012201120122011Total revenues$262,546$208,271$499,119$379,429Net revenues (total revenues lesspurchased transportation costs)$76,671$51,873$146,214$92,664Depreciation and amortization2,1251,0534,0851,882Other operating expenses55,90338,227108,70870,396Acquisition transaction expenses70106208320Operating income$18,573$12,487$33,213$20,066Net income available to commonstockholders$10,200$7,431$18,131$11,831Weighted average diluted sharesoutstanding32,18631,52232,18231,457Diluted income per share availableto common stockholders$0.32$0.24$0.56$0.38

2012 Second Quarter Results

In discussing the company’s second quarter performance,Mark DiBlasi, President and CEO of Roadrunner, said,

“Strong performance across all of our business segments generated second quarter revenue growth of 26.1% and net revenue growth of 47.8%. Due to sales and operational initiatives, our operating income growth of 48.7% outpaced revenue. Operating income for the second quarter of 2012 represented the best quarter in the history of the company. Our operating ratio improved 110 basis points to 92.9% from 94.0% in the second quarter of 2011 and 90 basis points sequentially from the first quarter of 2012.

“Our LTL operating ratio improved to 91.9% in the second quarter from 93.7% in the second quarter of 2011. Our initiatives to expand into new geographic regions, build density, improve pricing and enhance productivity resulted in a net revenue margin improvement from 24.2% in the second quarter of 2011 to 25.8% in the second quarter of 2012.

“TL revenues grew by$42.3 million, or 61.6%, from the prior year. Incremental revenues from our 2011 and 2012 acquisitions accounted for$36.7 millionof the increase, with the balance of$5.6 millionrepresenting organic growth of 8.1%. Organic growth was reduced by the impact of last season’s crop failures in the Northeast and softening in the intermodal market. The positive impact of the acquisitions and operating leverage associated with our revenue growth led to a 61.1% increase in our TL operating income. Our TL operating ratio of 93.9% was relatively flat compared to last year and was impacted by the softer intermodal market, added infrastructure costs associated with our growth, expansion costs in our freight consolidation business and excess insurance costs.

“TMS revenue grew$4.1 million, or 21.8%, from the prior year. Organic growth and pricing accounted for$2.4 millionof the increase, with the balance related to our lateFebruary 2012acquisition of Capital Transportation Logistics. The operating leverage associated with this growth led to a 60.8% increase in TMS operating income. Our TMS operating ratio improved to 88.0% from 90.9% in the second quarter of 2011.”

2012 Third Quarter Guidance

In commenting on guidance for the third quarter of 2012,Peter Armbruster, CFO of Roadrunner, said, “We anticipate our revenues for the third quarter to be in the range of$265 million to $280 million, representing an increase of 17% to 24% from the third quarter of 2011. Further, we expect diluted income per share available to common stockholders to be between$0.31 and $0.34, compared to diluted income per share available to common stockholders of$0.23in the prior year quarter.”

2012 Second Quarter Segment Information

Roadrunner has three operating segments: less-than-truckload (LTL), truckload and logistics (TL) and transportation management solutions (TMS). The following highlights exclude intercompany eliminations and corporate expenses.

LTL revenues, including fuel, increased 6.9% to$129.7 millionfor the second quarter of 2012 from$121.4 millionfor the second quarter of 2011. LTL net revenues for the second quarter of 2012 were$33.4 million, or 25.8% of LTL revenues, compared to$29.4 million, or 24.2% of LTL revenues, for the second quarter of 2011. LTL operating income was$10.5 million, or 8.1% of LTL revenues, for the second quarter of 2012 compared to$7.7 million, or 6.3% of LTL revenues, for the second quarter of 2011.

Summary LTL operating statistics for the three and six months endedJune 30are shown below.

Three Months Ended June 30,Six Months Ended June 30,%%20122011Change20122011ChangeOperating ratio91.9%93.7%92.4%94.4%Tonnage (in thousands of tons)338.2327.63.3%654.3612.46.9%Shipments (in thousands)515.6490.25.2%1,002.5922.08.7%Revenue per hundredweight (incl. fuel)$18.91$18.184.0%$18.87$17.965.1%Revenue per hundredweight (excl. fuel)$15.44$14.794.4%$15.40$14.794.1%Weight per shipment (lbs.)1,3121,337(1.9%)1,3051,328(1.7%)Linehaul cost per mile (excl. fuel)$1.24$1.240.0%$1.24$1.230.8%

Note: Other than operating ratio, the statistics above do not include (i) adjustments for undelivered freight required for financial statement purposes in accordance with Roadrunner’s revenue recognition policy; and (ii) non-LTL related business captured within the LTL segment.

TL segment revenues increased 61.6% to$111.0 millionfor the second quarter of 2012 from$68.7 millionfor the second quarter of 2011. The improvement was primarily due to increases in market pricing and load growth, the expansion of Roadrunner’s TL brokerage agent network, and the acquisitions ofBruenger Trucking, Prime Logistics, D&E Transport and CTW Transport. For the second quarter,Bruenger Trucking, Prime Logistics, D&E Transport and CTW Transport collectively contributed incremental revenues of$36.7 millionto the TL segment. Overall, TL net revenues for the second quarter of 2012 were$36.5 million, or 32.9% of TL revenues, compared to$17.6 million, or 25.5% of TL revenues, for the second quarter of 2011. TL operating income was$6.8 million, or 6.1% of TL revenues, for the second quarter of 2012 compared to$4.2 million, or 6.2% of TL revenues, for the second quarter of 2011.

TMS segment revenues for the second quarter of 2012 increased 21.8% to$23.1 millionfrom$19.0 millionfor the second quarter of 2011. TMS net revenues for the second quarter of 2012 were$6.7 million, or 29.1% of TMS revenues, compared to$4.9 million, or 25.8% of TMS revenues, for the second quarter of 2011. TMS revenue growth during the quarter was primarily attributable to new and existing customer growth and the acquisition of Capital Transportation Logistics. For the second quarter, Capital Transportation Logistics contributed revenue of$1.7 millionto the TMS segment. TMS operating income was$2.8 million, or 12.0% of TMS revenues, for the second quarter of 2012, compared to$1.7 million, or 9.1% of TMS revenues, for the second quarter of 2011.

Conference Call

A conference call is scheduled for Wednesday, August 1, 2012at 4:30 p.m. Eastern Time. To access the conference call, please dial 866-713-8307 (U.S.) or 617-597-5307 (International) approximately 10 minutes prior to the start of the call. Callers will be prompted for passcode 61848468. The conference call will also be available via live webcast under the Investor Relations section of Roadrunner’s website, www.rrts.com.

If you are unable to listen to the live call, a replay will be available through August 8, 2012, and can be accessed by dialing 888-286-8010 (U.S.) or 617-801-6888 (International). Callers will be prompted for passcode 96276107. An archived version of the webcast will also be available under the Investor Relations section of Roadrunner’s website, www.rrts.com.

If you want to get roadrunner tracking service, please go to Express Tracking.

About Roadrunner Transportation Systems, Inc.

Roadrunner is a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and logistics, transportation management solutions, intermodal solutions, and domestic and international air. For more information, please visit RRTS’ website, www.rrts.com.

Safe Harbor Statement

This release contains forward-looking statements that relate to future events or performance. These statements reflect Roadrunner’s current expectations, and Roadrunner does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond Roadrunner’s control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the integration of acquired companies, competition in the transportation industry, the impact of the current economic environment, Roadrunner’s dependence upon purchased power, the unpredictability of and potential fluctuation in the price and availability of fuel, the effects of governmental and environmental regulations, insurance in excess of prior experience levels, and other “Risk Factors” set forth in Roadrunner’s most recentSECfilings.

(Tables Follow)

ROADRUNNER TRANSPORTATION SYSTEMS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)(In thousands, except per share amounts)Three Months EndedSix Months EndedJune 30,June 30,2012201120122011Revenues$262,546$208,271$499,119$379,429Operating expenses:Purchased transportation costs185,875156,398352,905286,765Personnel and related benefits28,96320,32355,69638,058Other operating expenses26,94017,90453,01232,338Depreciation and amortization2,1251,0534,0851,882Acquisition transaction expenses70106208320Total operating expenses243,973195,784465,906359,363Operating income18,57312,48733,21320,066Interest expense:Interest on long-term debt2,0714513,869884Dividends on preferred stock subject to mandatory redemption-5049100Total interest expense2,0715013,918984Income before provision for income taxes16,50211,98629,29519,082Provision for income taxes6,3024,55511,1647,251Net income available to common stockholders$10,200$7,431$18,131$11,831Earnings per share available to common stockholders:Basic$0.33$0.25$0.59$0.39Diluted$0.32$0.24$0.56$0.38Weighted average common stock outstanding:Basic30,82130,28530,78230,227Diluted32,18631,52232,18231,457ROADRUNNER TRANSPORTATION SYSTEMS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)(in thousands, except share amounts)June 30,December 31,20122011ASSETSCURRENT ASSETS:Cash and cash equivalents$1,780$3,315Accounts receivable, net of allowances of $1,386 and $1,461119,777102,358Deferred income taxes9,4729,472Prepaid expenses and other current assets19,16816,400Total current assets150,197131,545PROPERTY AND EQUIPMENT, net of accumulated depreciation of $16,263 and $13,30336,57528,447OTHER ASSETS:Goodwill383,594364,347Intangible assets, net10,77710,381Other noncurrent assets11,3378,633Total other assets405,708383,361TOTAL ASSETS$592,480$543,353LIABILITIES AND STOCKHOLDERS’ INVESTMENTCURRENT LIABILITIES:Current maturities of long-term debt$14,000$14,000Accounts payable54,06050,245Accrued expenses and other liabilities29,46819,480Preferred stock subject to mandatory redemption-5,000Total current liabilities97,52888,725LONG-TERM DEBT, net of current maturities140,440122,500OTHER LONG-TERM LIABILITIES38,98836,175Total liabilities276,956247,400STOCKHOLDERS’ INVESTMENT:Common stock $.01 par value; 100,000 shares authorized;30,824 and 30,707 shares issued and outstanding308307Additional paid-in capital267,914266,475Retained earnings47,30229,171Total stockholders’ investment315,524295,953TOTAL LIABILITIES AND STOCKHOLDERS’ INVESTMENT$592,480$543,353

Source:Roadrunner Transportation Systems, Inc.

Roadrunner Transportation Systems, Inc. Peter Armbruster, 414-615-1648 Chief Financial Officer or Vollrath Associates, Inc. Marilyn Vollrath, 414-221-0210 [email protected]

#Roadrunner Transportation Systems

Richard Crumpler Hits the Fabulous 41

Richard joined Central Freight Lines July 7, 1971 on Beaumont’s inbound dock while training for his CDL and the opportunity to drive for Central. In 1972 he became a P&D driver and served Central customers throughout the Beaumont coverage area. Richards’s career continued in 1992 when he became the Inbound Dock Foreman.

In 1995 Richard moved to P&D Dispatch and was promoted three years later to handling dock operations and dispatch, a job which he has continued to handle efficiently for the past 14 years.

Richard is dedicated to taking care of Central Freight Lines customers and continues to strive to provide the best service possible for Beaumont and it’s surrounding areas in southeast Texas and southwest Louisiana.

Richard loves the out of doors and spends a good part of his off time hunting and fishing. I can only imagine the “you should have seen the one that got away” stories Richard can tell. Thank You Richard from All of Us here At Central Freight for your Dedication to Our Success!

If you want to get central freight lines tracking service, please go to Express Tracking.

#Central Freight Lines

AIT Worldwide Logistics obtains agreement for government shipping around the world

Global transportation and logistics provider AIT Worldwide Logistics has entered into a three-year Civil Reserve Air Fleet (CRAF) partnership enhancing its capabilities to transport government commodities internationally.

The strategic alliance, which begins today and extends through May 31, 2015, designates AIT as a CRAF sponsored forwarder and broadens the vertical market growth of the organization’s government division.

Keith Tholan, Executive Vice President, Sales states, “The continued diversity and depth in our vertical market expertise is essential to our long term growth objectives. This new CRAF partnership will further strengthen our government division for many years to come.”

The CRAF is made up of US civil air carriers who are committed to providing operating and support personnel for the Department of Defense.

“AIT Worldwide Logistics is known for developing customized services for our customers and we look forward to developing world-class solutions to serve various branches of the military,” said Bill Freidel, director of AIT’s government sales division.

The AIT government division is a full-service CONUS and OCONUS cargo carrier. Central to its security initiatives, AIT is a certified C-TPAT and TAPA compliant provider, a sustaining member with the National Defense Transportation Association (NDTA) and is certified with cargo screening facilities throughout the U.S.

If you want to get ait tracking service, please go to Express Tracking.

#AIT Worldwide Logistics #AIT

Averitt Shares Global Logistics Strategy With Nashville Educators

COOKEVILLE, Tenn. (July 16, 2012) – Today’s high school education goes far beyond “The Three R’s,” as globalization puts even greater importance on the role logistics plays in today’s economy. As part of Metropolitan Nashville Public Schools’ “Academies of Nashville” program, teachers from Hillsboro High School participated in a teacher externship at Averitt’s Cookeville headquarters to learn more about this expanding career path.

The four educators from Hillsboro High School spent the day observing the “behind-the-scenes” strategy the full-service transportation provider uses to provide a variety of solutions to its customers. The group toured the corporate headquarters, spending time with experienced industry veterans who oversee Averitt’s supply chain solutions, truckload, expedited, international and customer service operations, while also learning about local pickup and delivery at the Cookeville service center.

“We’re happy to provide educators with hands-on experience they can share with their students about how the transportation and supply chain management industry works,” said Elise Leeson, Averitt’s director of human resources. “Through programs like this, today’s students will gain the set of skills they need to be well-prepared for their careers. Logistics is an exciting and challenging career field, and we’re honored to partner with schools helping to shape tomorrow’s workforce.”

The Academies of Nashville program provides students with hands-on learning in a project-based educational environment. The Hillsboro High School Academy of International Business and Communications is the only academy program that provides a Global Logistics track.

Participating in the externship program is just one way Averitt supports education. In addition to sponsoring athletics, music and other extracurricular programs at Upper Cumberland elementary, middle and high schools, Averitt also works closely with Tennessee Tech University through an internship program and with financial support.

If you want to get averitt tracking service, please go to Express Tracking.

About Averitt Express

Now in its 41st year of service , Averitt Express is a leading provider of freight transportation and supply chain management with international reach to more than 100 countries. The company is a founding SmartWaySM partner and a member of The Reliance NetworkTM, a network of carriers that provides seamless LTL services throughout North America. Averitt specializes in delivering customized solutions with a single source of accountability for service offerings that include cross border/domestic offshore, dedicated, expedited, intermodal, international ocean/air, local customization, less-than-truckload, PortSide®, transportation management, truckload (dry van, flatbed, brokerage), warehousing and value-added services, including a centralized call center, strict performance metrics and an ongoing focus on green/sustainability efforts. Averitt’s technology offerings include a full suite of web-based shipping tools, electronic data interchange (EDI), and transportation and operations management systems.

#Averitt

Estes Express Lines Announces Leadership Changes in Operations and Sales

RICHMOND, Va.—Estes Express Lines has announced the promotion of two Estes leaders in operations and sales. Al Bucher has been named corporate vice president of operations, and Pat Martin is now corporate vice president of sales.

Prior to this promotion, Al Bucher served as Estes’ regional vice president of the Great Plains, a position he held since joining the company in 2010. His history with Estes started in 2002 when he joined Lakeville Motor Express (LME) as director of operations. Both companies were part of ExpressLINK, a regional carrier network formed to cover the United States and Canada. Bucher went on to become president and executive vice president of LME. He started his freight transportation career in 1981, holding various operations and sales positions with Hyman Freightways, American Freight Lines and Dayton Freight Lines. Over the coming months, Bucher will transition into his new role and will be located in Richmond, VA, at the Estes corporate office.

He is taking over for J.T. “Junior” Johnson who has been in operations with Estes for 47 years. Johnson will spend the next several months working with his successor to affect a seamless transition. Once the transition is complete, Estes will continue to benefit from Johnson’s leadership as a field resource for employee development and new operational process implementation until his final retirement.

In his new position as corporate vice president of sales, Pat Martin is responsible for revenue growth management for the LTL division specifically, as well as the coordination of sales strategies enterprise-wide. Martin joined Estes in 2001 in Richmond terminal sales and has served Estes in numerous posts, including regional vice president of Estes West and vice president of field sales and strategic planning. He will be located at the Estes corporate office.

Martin replaces Chuck Parker, who is retiring in the coming months after 44 years in the freight transportation industry. Parker joined Estes in 1995 as vice president of national accounts and was promoted to vice president of sales in 2002.

“Fundamental to Estes’ success is the breadth of our leadership experience and expertise that enables us to provide the highest quality freight transportation services and outstanding customer service,” said Billy Hupp, Estes’ COO and executive vice president. “We extend our deepest gratitude to Junior and Chuck for their contributions throughout their careers, and congratulate Al and Pat in their well-deserved promotions.”

About Estes Richmond, VA-based Estes is a full-service freight transportation provider offering a full range of shipping solutions including LTL, Time Critical, Volume & Truckload, Global and Custom Solutions. Founded in 1931 by W.W. Estes and still owned by the Estes family, the company has grown from a small, local carrier into one of the most respected total-solutions providers in the industry.

#Estes

ABF Announces Second Quarter 2012 Results

(Fort Smith, Arkansas, July 31, 2012) – Arkansas Best Corporation (Nasdaq: ABFS) today announced second quarter 2012 net income of $11.8 million, or $0.44 per share, on revenue of $511 million, compared with net income of $5.3 million, or $0.20 per share, and revenue of $499 million in the second quarter of 2011.

The second quarter 2012 results included a tax benefit of $8.0 million, or $0.31 per share, related to the reversal of previously established deferred tax asset valuation allowances, and transaction costs of $2.1 million ($1.3 million, after tax), or $0.05 per share, associated with the June 15, 2012 acquisition of Panther Expedited Services, Inc. (“Panther”). Excluding both of these items, Arkansas Best had second quarter 2012 net income of $5.2 million, or $0.18 per share.

“A number of significant developments occurred during the second quarter, including closing the acquisition of Panther, our premium logistics provider,” said Arkansas Best President and CEO Judy R. McReynolds. “This transaction represents a major step in our long-term strategy to grow our non-asset-based businesses. If Panther had been included, total 2011 revenues for Arkansas Best’s non-asset businesses would have exceeded $400 million. The addition of Panther and the services provided by our other non-asset-based subsidiaries complement our offerings at ABF and allow us to strengthen customer relationships.”

ABF implemented a 6.9% increase in its general rates and charges on June 25, 2012 that was in effect during the last week of the second quarter. Second quarter price increases on ABF accounts under contract and deferred pricing agreements remained at favorable levels. In the second quarter of 2011, ABF began an aggressive initiative to address inadequate pricing and improve the profitability of many accounts across its network. This effort continues in 2012. As a result, the incremental profitability of ABF’s account base has improved.

“While we are encouraged by ABF’s yield initiatives, we continue to focus on various paths to reduce ABF’s overall cost structure,” said Ms. McReynolds. “On-going efforts that offer opportunities to reduce ABF’s cost structure include ABF’s labor contract lawsuit, collaborative work to develop a permanent solution to correct our payment of non-ABF multiemployer pension benefits and preparations for negotiation of a new April 2013 labor contract.”

ABF’s second quarter 2012 daily tonnage levels continued to be below those of the same period last year as the U.S. economy remained inconsistent. However, in each month of this year’s second quarter, the level of tonnage decrease improved versus 2011. During the second half of 2012, monthly tonnage levels will be compared back to the second half of 2011, when ABF experienced declining tonnage versus 2010.

Acquisition of Panther Expedited Services, Inc.

As previously announced, Arkansas Best acquired Panther on June 15, 2012. The aggregate purchase price of approximately $181 million included a preliminary post-closing adjustment to net working capital. Arkansas Best did not assume any of Panther’s debt that existed prior to the acquisition.

In connection with this purchase, Arkansas Best entered into a $100 million secured term loan facility with a syndicate of banks to finance a portion of the transaction. The balance of the proceeds needed to pay the full purchase price and transaction costs was funded out of Arkansas Best’s available cash.

Changes in the accompanying Arkansas Best consolidated balance sheet from December 31, 2011 to June 30, 2012 include $230 million of acquired assets and $49 million of liabilities, primarily deferred tax liabilities. Additional details of these preliminary fair value assessments are included in the financial tables section of this press release.

Closing Comments

“Arkansas Best is focused on listening to our customers and providing solutions that meet their needs,” said Ms. McReynolds. “The addition of Panther and the investments we are making in our other non-asset-based subsidiaries will further that objective and improve our opportunities to grow our relationships and our company. Our efforts to lower ABF’s cost structure will continue until we find the right solution.”

Conference Call

Arkansas Best Corporation will host a conference call with company executives to discuss the 2012 second quarter results. The call will be today, Tuesday, July 31, at 9:30 a.m. ET (8:30 a.m. CT). Interested parties are invited to listen by calling (800) 618-4645. Following the call, a recorded playback will be available through the end of the day on August 31, 2012. To listen to the playback, dial (800) 633-8284 or (402) 977-9140 (for international callers). The conference call ID for the playback is 21598607. The conference call and playback can also be accessed, through August 31, on Arkansas Best’s website at arkbest.com.

Company Description

Arkansas Best Corporation, headquartered in Fort Smith, Arkansas, is a freight transportation services and solutions provider. Through its various subsidiaries, Arkansas Best offers a wide variety of logistics solutions including: domestic and global transportation of less-than-truckload (“LTL”) and full load shipments, expedited ground and time-definite delivery solutions, freight forwarding services, freight brokerage, oversight of roadside assistance and equipment services for commercial vehicles and household goods moving market services for consumers, corporations and the military. More information is available at arkbest.com, abf.com and pantherexpedite.com.

Forward-Looking Statements

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this report that are not based on historical facts are “forward-looking statements.” Terms such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “plan,” “predict,” “prospects,” “scheduled,” “should,” “would,” and similar expressions and the negatives of such terms are intended to identify forward-looking statements.

Such statements are by their nature subject to uncertainties and risk including, but not limited to, general economic conditions and related shifts in market demand that impact the performance and needs of industries served by Arkansas Best Corporation’s subsidiaries and limit our customers’ access to adequate financial resources; the successful integration of Panther; relationships with employees, including unions; union and nonunion employee wages and benefits, including changes in required contributions to multiemployer pension plans; competitive initiatives, pricing pressures, the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates and the inability to collect fuel surcharges; availability of fuel; availability and cost of reliable third-party services; the timing and amount of capital expenditures; future costs of operating expenses such as fuel and related taxes; self-insurance claims and insurance premium costs; governmental regulations and policies; future climate change legislation; availability and cost of capital and financing arrangements; the cost and timing of growth initiatives; the impact of our brand and corporate reputation; the cost, integration, and performance of any future acquisitions; costs of continuing investments in technology and the impact of cyber incidents; weather conditions; and other financial, operational, and legal risks and uncertainties detailed from time to time in Arkansas Best Corporation’s Securities and Exchange Commission (“SEC”) public filings.

If you want to get abf tracking service, please go to Express Tracking.

#ABF

CaroTrans Adds Direct Seattle to Japan LCL Export Service to Extensive Global Service Network

Clark, New Jersey, July 24, 2012 – CaroTrans, a leading global NVOCC (non vessel operating common carrier) and ocean freight consolidator, today announced a new, direct LCL export service from Seattle to Tokyo which broadens their already sizable U.S. – Japan import and export LCL and FCL service portfolio. This direct service offers an industry best overall 13 day transit to Tokyo, Yokohama in 14 days, and Osaka, Nagoya and Kobe in 18 days. It features weekly service, fixed day cutoffs and there is no transshipment via Busan, South Korea.

CaroTrans has established a strong service network in the U.S.–Japan trade region in partnership with Seino Logix, an NVO based in Japan. Over the last 13+ years, their collaborative relationship based on a commitment to customer-focused, reliable and secure consolidation and deconsolidation services has resulted in a strong share of market in this trade. “We are committed to increasing our scope of services to include more direct, expedited transportation solutions to ensure our forwarder customers have the services they need to address the supply chain requirements of their clients. With Seino Logix as our partner in Japan and in the U.S., where four of their representatives are based, we will continue building out our U.S.-Japan service portfolio,” said Greg Howard, CaroTrans, Global CEO.

Norihiro Hisanaga, Japan Trade Manager, Seino Logix Co., Ltd., based in CaroTrans’ Los Angeles office, said, “This new Pacific Northwest service to Japan adds service flexibility and increased options for transpacific supply chains. With CaroTrans, we offer reliable, value-added services and the highest level of support for our global forwarder clients.”

Over the last six months, CaroTrans has added five direct LCL and FCL import and export services to its global service network to provide secure, cost efficient and expedited services to the global freight forwarding community. The new services include: Houston and New York export to Cartagena, Colombia; Miami to Itajai, Brazil export; Charleston to South Africa export, and Los Angeles – Vietnam import/export. About CaroTrans Established in 1979, Carotrans International is one of the world’s leading NVOCCs providing global LCL, less than container load, and FCL, full container load services. Through our network of offices in Asia, South America, Oceania, and the United States, along with our strong local partners, we offer a global reach that is truly unique. Carotrans is a people driven company with dedicated, experienced and knowledgeable team members who engage customers with passion and experience on a local level.

Contact: CaroTrans, Greg Howard, 732-540-8121, [email protected] CKL Communications, Carol Lerner, 973.635.6923, [email protected]

#CaroTrans

ZERO CARBON PARCEL SHIPPING FROM DPD GOES LIVE

From now on all parcels sent via DPD UK will be shipped carbon neutral – at no extra charge to the customer. Total Zero, DPD’s new carbon neutrality commitment, applies to all domestic and international shipments from six major markets in Europe.

Total Zero will be available to all customers in France, Germany, United Kingdom, Netherlands, BeLux and Switzerland at first and it is anticipated that other DPD business units across Europe will begin providing Total Zero from 2013.

“We are proud and excited to officially launch Total Zero in the UK. DPD has been preparing for this moment for some time now and I am sure that our customers will be delighted to know that we are now delivering carbon neutral parcels at no extra charge.” says Dwain McDonald, CEO of DPD in the UK.

The Total Zero carbon neutral commitment is achieved through a triple mechanism: measuring emitted carbon, reducing the carbon produced by DPD – called insetting – and subsequently carbon offsetting.

“Total Zero came about because, as a company, we wanted to take responsibility and reduce our impact on the planet. We believe that responsible delivery means being carbon neutral so we are not passing on any extra costs to our customers. We are convinced that this marks an exciting new chapter in our company’s history and we hope that carbon neutral shipping at zero extra cost will one day become the standard across the industry”, Mr McDonald adds.

DPD’s parent company GeoPost will offset non avoidable CO2 emissions – initially 550,000 tonnes for the year – through a series of offsetting projects chosen in partnership with well-known French offset partner CDC Climat.

These include international projects such as reforestation in Columbia or introducing biodigesters to rural farming communities in Cambodia, alongside European-based initiatives.

All of the selected projects are accredited with globally recognised carbon standard certifications such as Voluntary Carbon Standard (VCS) which measure project emission reductions; Gold Standard (GS) certificate, awarded by the Gold Standard Foundation to premium carbon mitigation projects, Joint Implementation - United Nations Framework Convention on Climate Change (UNFCCC); and the CCB Standards by the Climate, Community and Biodiversity Alliance.

In launching Total Zero DPD is committing to keep reducing its environmental impact through introducing a range of emission reduction initiatives – called insetting – which will collectively help reduce CO2 emissions.

DPD’s carbon footprint has been calculated regularly since 2006 and DPD has been reducing its carbon footprint per parcel over time.

Total Zero will apply to business and consumer shipments to all destinations around the globe from the six major markets of France, Germany, United Kingdom, Netherlands, BeLux and Switzerland.

Further information on Total Zero is available at www.dpd.com/totalzero About DPD

With the shipment of 2.5 million parcels a day DPD is a leading international provider of parcel and express services. The company has the most efficient road network in Europe and delivers to 230 countries worldwide. Customers can choose services from an extensive product range of national and international parcel and express services for business and home deliveries. A workforce of 24,000 and 18,000 vehicles operate at more than 800 locations. The majority shareholder in DPD with 83.32 % shareholding is the GeoPost Group, a wholly-owned subsidiary of French Groupe La Poste. With a consolidated turnover of 3.668 billion euros in the year 2011 GeoPost is currently Europe’s second-largest provider of express parcel services.

About CDC Climat

CDC Climat is Caisse des Dépôts subsidiary launched in 2010 to tackle climate change by taking action in three areas: investment in carbon assets, development of services to a low carbon economy and research into climate change economics. Press contact:

Gordon, Liz or Jason at MAW Communications (www.mawcomms.co.uk) on 01603 505 845.

#DPD

TTS, LLC Awards AAA Cooper 2011 LTL Carrier of the Year Award

TTS, LLC, a leading agent-based supply chain and logistics company headquartered in Frisco, Texas, honored AAA Cooper Transportation with the 2011 LTL Carrier of the Year Award at a celebration dinner on July, 19, 2012.

AAA Cooper Transportation was selected based on four criteria: creative solutions to the TTS customer base, on-time delivery, technology capabilities and overall customer service. After the selection was narrowed down to the top 10 LTL carriers, the TTS national agent network voted for the “Best of the Best”.

If you want to get aaa cooper tracking service, please go to Express Tracking.

#AAA Cooper

Reddaway Professional Drivers Win Truck Driving Competitions in Utah and Nevada

CLACKAMAS, Ore., Aug. 3, 2012 /PRNewswire/ — (NASDAQ: YRCW) — Two Reddaway professional drivers have won top honors for safe-driving skills in the states of Utah and Nevada. Joe Kwiatkowski placed first in the flatbed class at the Utah Truck Driving Championship. Scott Rideout placed first in the twin trailers class at the Nevada State Truck Driving Championship.

Kwiatkowski and Rideout will go on to compete in the 2012 National Truck Driving Championships in Minneapolis on August 7-11.

Kwiatkowski has competed in the twin trailers and flatbed classes at state driving contests for the past six years. His win in the flatbed class qualifies him for his first-ever trip to nationals. A professional driver for over 22 years, Kwiatkowski has worked for Reddaway for 19 years. He has logged over one million consecutive safe-driving miles and 16 years without an accident. Kwiatkowski is a linehaul driver based at the Reddaway terminal in Saint George, Utah.

Rideout, who has worked for Reddaway for two years, has logged 875,000 consecutive safe-driving miles since beginning his driving career nine years ago. He is a linehaul driver at the Reddaway facility in Reno, Nev. and a member of the terminal’s safety committee.

Reddaway drivers are encouraged to use driving competitions as a way to sharpen their safe-driving skills. “Skilled, safety-committed drivers like Joe and Scott are what allow Reddaway to remain regional leaders in on-time, claim-free shipping. We are proud and thankful to have these superb service-minded professionals on our team,” said Dave Yonemoto, director of safety for Reddaway.

To qualify for the national championships, drivers must place first in their respective class at state competitions. Both the state and national competitions include challenging driving skills and maneuvering tests, a pre-trip inspection, and a written examination covering vehicle operation and federal safety regulations. To participate in the state competitions, drivers must be accident-free for one year.

If you want to get reddaway tracking service, please go to Express Tracking.

#reddaway

Vitran Express is announcing an increase in our base rate tariff effective July 9, 2012. This increase is due in part to a pressing need to maintain our service against a backdrop of increasing costs. Each year the requirements and expectations of our customers grow, while our operating expenses and insurance costs continue to rise. Our increase will be 6.9% and will be applicable on our LTL rates for customers on the VITR 500/507 base rate tariffs. We know that rate changes affect the business of our customers and we want our customers to have predictable costs. Our online rating software will be updated for our customers to use in estimating their freight costs prior to shipping with us. Customers may also obtain a rate disk from their local sales representative.

#Vitran Express

New report underlines Daily Maersk reliability

A new research report confirms the Asia-Europe product ‘Daily Maersk’ is a powerful differentiator for Maersk Line as it continues to lead global container shipping lines in reliability.

The report, a joint effort between ecommerce network provider INTTRA and container shipping analyst SeaIntel, examined the performance of the top 20 container lines in schedule reliability.

In the past year, Maersk Line has been the No.1 carrier in eight of the months and No.2 for four. The report also highlights, among others, the effect of Daily Maersk on Maersk Line’s June reliability, a month when many carriers saw reliability dip.

“Maersk Line reached a 98% on time performance to North Europe in June, which is the highest performance seen in 2012 of any carrier, which clearly shows not only their commitment to the ‘Daily Maersk’ concept, but also their operational capability of actually delivering it,” reads the report.

The significance of the June performance is that it marks the end of a three-month period known for the lack of reliability from shipping lines.

Daily Maersk achieved 97% reliability in this period, a result that Maersk Line’s Vincent Clerc says emphasises the value of the product.

“This year has been a bit special,” says Clerc, Maersk Line’s chief trade and marketing officer. “Many carriers have adjusted their networks after the Chinese New Year as they phased in new cooperation, such as the G6 or the cooperation between MSC and CMA. It has been a tough time for customers, but overall the product offering on Asia-Europe will be greatly enhanced as a result. I guess it is another positive impact for Daily Maersk.

“For Maersk Line though the situation is a bit different. The Daily Maersk product is designed to be stable. We are mapping network changes in advance, so no matter how much we slow down the vessels or alter port calls or vessel rotations, the customer doesn’t feel it. Reliability is something customers must experience consistently and we are happy to see through these numbers that we are able to deliver this better than anybody else.”

After nine months of operation, Daily Maersk continues to deliver on its promise of daily sailings and guaranteed reliability, averaging about 97% since inception.

If you want to get maersk tracking service, please go to Express Tracking.

#Maersk

ORIENT OVERSEAS (INTERNATIONAL) LTD ANNOUNCES 2012 INTERIM RESULTS

Group Turnover increased by 7% to US$3,122 million • Profit Attributable to Equity Holders of US$117 million • Earnings per share of US18.6 cents • Interim Ordinary Dividend of US4.66 cents (HK36.3 cents) per share

Financial And Operational Highlights

• Operating profit decreased by 26% to US$140 million • OOCL liftings increased 6.1% to 2.6 million TEUs • OOCL Freight Revenue per TEU was down 1.0% • Liquid Assets exceeded US$2.5 billion as at 30th June 2012

Orient Overseas (International) Limited and its subsidiaries (the “Group”) today announced a profit attributable to equity holders, after tax and non-controlling interest, of US$116.8 million for the six-month period ended 30th June 2012 compared with US$175.0 million for the same period in 2011. The 2012 interim result represents a US$58.2 million or 33% decrease in earnings from comparable activities.

The profit after tax and non-controlling interests attributable to equity holders for the first six months of 2012 included dividends from Hui Xian Holdings Ltd amounting to US$42.6 million and a US$5.0 million upward revaluation of Wall Street Plaza.

Earnings per ordinary share for the first half of 2012 was US18.6 cents, whereas earnings per ordinary share for the first half of 2011 was US28.0 cents

The Board of Directors is pleased to announce an interim dividend for 2012 of US4.66 cents (HK36.3 cents) per ordinary share. The dividend will be paid on 15th October 2012 to those ordinary shareholders whose names appear on the register on 6th September 2012.

The Chairman of OOIL, Mr. C C Tung, said, “The first half of 2012 has been challenging with very low market freight rates at the start of the year, low demand growth on the east-west trades, and a spike up in bunker fuel prices in early January. Fortunately there has been a marked improvement in freight rates, particularly on the Asia-Europe services, to offset the low growth in demand on the East-West trades. Despite this recovery in rates, trading conditions have been, and are likely to remain, difficult and volatile given prevailing economic conditions and the continuing surplus of capacity on the major trades.”

“While facing low demand growth, mirroring sluggish economic activity in key consumer markets, the industry has had to absorb over 110 new container ships in the first half of the year. The pressure from the delivery of new-build capacity will continue, and the industry’s ability to absorb and judiciously deploy capacity will be key to stability for both the rest of this year and for the next few years to come”, said Mr. Tung.

OOCL’s total lifting for the first half year increased by 6.1% and total revenue increased by 5.0% compared with corresponding period in 2011. The decline in average revenue seen in 2011 has stopped and average revenue started to recover in March, notably for Asia to Europe business.

During the first half of 2012 no new-build vessel was delivered and no orders for new vessels were placed. The Group exercised a purchase option under a long-term charter of the 5,770 TEU vessel ‘OOCL Shanghai’ in January 2012. A 16-year-old 5,344 TEU vessel ‘OOCL Hong Kong’ was sold at end of June 2012 and leased back from the new owner for 3 years on a time-charter basis. Another 16-year-old 5,344 TEU vessel ‘OOCL China’ was sold in early July and was also leased back from the new owner for 3 years on a time-charter basis.

Mr. Kenneth Cambie, the Group’s Chief Financial Officer, noted that “OOCL has been fortunate during this period of low demand growth in not having any new-build vessels delivering. The first of our new mega 13,200 TEU container vessels, which are expected to deliver significant operating cost efficiencies, delivers at the start of next year. With the next delivery of our 8,888 TEU vessels also not due until next year, any capacity growth for us in the second half of the year will come from the charter market.”

Wall Street Plaza continues to perform in line with expectations, and based on an independent valuation, it has been re-valued upwards by US$5 million as at 30th June 2012 to reflect an assessed market value of US$165 million.

Following the successful floating of Beijing Oriental Plaza via a Real Estate Investment Trust (“REIT”) last year, the value of our 7.9% investment in the project is now largely dependent on the market value of the REIT units ultimately owned by Hui Xian Holdings Ltd. In the first half of 2012, Hui Xian Holdings Ltd declared dividends, in forms of both cash and Hui Xian REIT units, to its shareholders, of which the Group’s share amounted to cash of US$7.9 million and Hui Xian REIT units valued at US$34.7 million. As at 30th June 2012, the Group’s investment in Hui Xian Holdings Ltd was valued at US$99.0 million, a drop of US$29.3 million from 31st December 2011, mainly a result of distributing the REIT units to its shareholders.

Mr. Tung commented on the outlook in the container shipping market, “Prospects of a strong third quarter, the traditional peak season for container shipping, have dimmed a little of late as a result of the poor economic data from the major consumer markets. A large number of mega-ships have still to deliver in the second half of the year and deployed capacity will need to adjust quickly to meet demand levels if freight rates are to be maintained in the seasonally weaker fourth quarter.”

“Despite limited ordering of new vessels over the last twelve to eighteen months, the industry needs to absorb an estimated 2.4 million TEU of new-building capacity, which is about 15% of the current global capacity, over the next eighteen months. Given the substantial new-build capacity still to deliver, and with ongoing weak demand growth, volatile fuel prices, and fragile freight rates, continued discipline in capacity deployment and cost control will be needed for the industry to rebuild stability toward profitability. Nevertheless, the need to meet higher operating costs, and in particular high fuel costs, has seen freight rates improve this year, and it is hoped that they will now remain at these more reasonable levels”, said Mr. Tung.

Mr. Tung concluded, “Putting aside the non-recurring items at the OOIL level, the performance of the liner and logistics business has been credible in the face of the difficult trading conditions experienced. OOCL’s positive operating margin for the first half was adversely impacted by the unexpected increase in bunker fuel, but the recent fall in the price of crude oil, if it holds, should see an improvement in that margin to more appropriate levels. But, fundamentally, margins will remain volatile, and likely thin, until supply and demand rebalance.”

As at 30th June 2012, the Group had total liquid assets amounting US$2,527.5 million and a total indebtedness of US$2,812.1 million. Net debt as at 30th June 2012 was therefore US$284.6 million compared with US$259.1 million as at the 2011 year-end.

Mr. Cambie noted that, “The increase in net debt in the first half of 2012 was mainly a result of stage payments made for newbuilding orders. The Group continues to have sufficient borrowing capacity and remains comfortably within its target of keeping its net debt to equity ratio below 1:1.”

OOIL owns one of the world’s largest international integrated container transport businesses which trades under the name “OOCL”. With more than 270 offices in 60 countries, the Group is one of Hong Kong’s most international businesses. OOIL is listed on The Stock Exchange of Hong Kong Limited.

If you want to get oocl tracking service, please go to Express Tracking.

#OOCL

Trending Blogs

Recently Viewed Blogs

Express Tracking