Janel World Q1 Revenue Up 55.5%
Total costs and expenses were $26.35m for the first quarter of 2010, compared to $17.02m for the same period in 2009. Operating income was $74.73m, compared to an operating loss of $28.01m for the same period in 2009.
Selling, administrative and general expenses were $2.44m for the first quarter of 2010, compared to $1.88m for the same period in 2009. Income before income taxes was $28,947, compared to a loss before income taxes of $48,637 for the same period in 2009.
For the first quarter of 2010 net income was $8,570, compared to a net loss of $50,037 for the same period in 2009.
For the three months ending December 31, 2010, the company reported net income available to common shareholders of $4,820 or $0 per fully diluted share, an improvement of $58,607 from the prior year reported net loss available to common shareholders of $53,787, or $0.003 per fully diluted share.
James Jannello, executive vice president and CEO of Janel World Trade, said: â€œTaking into account that our first quarter is historically the weakest due to seasonal factors, we are pleased with our results for the quarter ended December 31, 2010.
â€œWe now have had four consecutive quarters reflecting record quarterly revenue and positive earnings. In addition, during the quarter we successfully assimilated our October 4, 2010 strategic acquisition of the assets of Ferrara International Logistics (Ferrara).â€
Will the company further improve revenue in Q2?
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