* New business wins increase 31% over prior year *
Key Financials ($ millions)
 Excludes the impact of specific items which are significant non-recurring items such as restructuring and certain legal expenses.
"I am especially pleased with the progress made in rebuilding the leadership team, particularly the new additions. They know the industry and our customers. This allowed them to hit the ground running and make immediate contributions. Volume trends as we exited the quarter were encouraging and I am looking for even more from the entire team in the near future."
For the second quarter, adjusted EBITDA of
The company's new business wins were up 31% over the prior year, increasing to$763 million, compared to
New business wins based on expected annualized revenue of new contracts
CEVA - Making business flow
CEVA Logistics, one of the world's leading non-asset based supply-chain management companies, designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 44,000 employees in more than 170 countries are dedicated to delivering effective and robust supply-chain solutions across a variety of sectors where CEVA applies its operational expertise to provide best-in-class services across its integrated network. For more information, please visitwww.cevalogistics.com http://www.cevalogistics.com/>
SAFE HARBOR STATEMENT:
This news release may contain forward-looking statements. These statements include, but are not limited to, discussions regarding industry outlook, the Company's expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2014 and beyond, and the other non-historical statements. These statements can be identified by the use of words such as "believes" "anticipates," "expects," "intends," "plans," "continues," "estimates," "predicts," "projects," "forecasts," and similar expressions. All forward-looking statements are based on management's current expectations and beliefs only as of the date of this press release and, in addition to the assumptions specifically mentioned in the above paragraphs, there are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the effect of local and national economic, credit and capital market conditions, a downturn in the industries in which we operate (including the automotive industry and the airfreight business), risks associated with the Company's global operations, fluctuations and increases in fuel prices, the Company's substantial indebtedness, restrictions contained in its debt agreements and risks that it will be unable to compete effectively. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's annual and quarterly reports, available on the Company's website, which investors are strongly encouraged to review. Should one or more of these risks or uncertainties materialize or the consequences of such a development worsen, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. CEVA disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
SOURCE CEVA Logistics
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