JAMAICA, NY -- (Marketwire) -- 02/12/13 -- Janel World Trade, Ltd. (OTCQB: JLWT), a full-service global provider of integrated transportation logistics, announced today the financial results for its first quarter ended December 31, 2012.
First Quarter 2013 Results
For the three months ended December 31, 2012, Janel reported revenue of $21,865,771, a decrease of $1,483,364 or 6.4% compared to the three months ended December 31, 2011.
For the three months ended December 31, 2012 the Company reported a net loss of $(201,286) or $(0.01) per fully diluted share, compared to the prior year reported net loss of $(246,912), or $(0.01) per fully diluted share.
Review and Outlook
"We are disappointed with our results for the quarter ended December 31, 2012," said James N. Jannello, Executive Vice President and Chief Executive Officer. "For the three months, we had an operating loss from continuing operations of $(163,919) compared to an operating loss from continuing operations of $(150,257) in the prior year. Revenue for the quarter was down when compared to last year mainly due to lower ocean and air shipping activity. Although we cannot quantify the effects, we believe that ocean shipping activity in the quarter was negatively impacted by Hurricane Sandy and the threatened port strikes by the International Longshoremen's Association on the entire East and Gulf Coast. We are focused on returning our continuing core operations to profitability."
Jannello concluded, "With the recent investments in our freezer and cold storage capabilities, we are seeing an expansion in our New Jersey warehouse business with our current customers as well as attracting new customers. Looking ahead, and in the very short term, we are working to raise additional capital in order to grow the transportation logistics segment to profitability."
To be included in Janel's database for Corporate Press Releases and industry updates, investors are invited to send their e-mail address to: IR@janelgroup.net.
About Janel World Trade, Ltd.
Janel World Trade, Ltd. is a global provider of integrated logistics; including domestic and international freight forwarding via multi-modal carriers, leading-edge, end-to-end, supply-chain technology, customs brokerage, warehousing and distribution, and other transportation-related services. With offices throughout the U.S. (New York, New Jersey, Chicago, Los Angeles, and Atlanta) and a network of independent international agents in approximately 52 countries, the Company provides the comprehensive logistics services and technology necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission.
Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTC Bulletin Board under the symbol "JLWT." Additional information on the Company is available on its website at http://www.janelgroup.net
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