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Express-1 Expedited Solutions Reports Strong Q3 Results: Revenue Increases 143%, Operating Income Rises 160%.

Article Excerpt
SAINT JOSEPH, Mich. -- Express-1 Expedited Solutions, Inc. (AMEX:XPO) today reported its earnings for the third quarter, ended September 30, 2008.

Express-1 Expedited Solutions, through its four operating companies (Express-1, Bounce Logistics, Express-1 Dedicated and Concert Group Logistics), provides the following premium transportation services: same-day delivery, time-sensitive shipping, premium freight brokerage and dedicated transportation throughout North America, as well as domestic and international freight forwarding.

Express-1 Expedited Solutions reported a 143% increase in revenue during the third quarter of 2008 to $32.4 million, compared to $13.4 million for the same period in the prior year. The acquisition of Concert Group Logistics, which had a transaction date of January 1, 2008, contributed $14.3 million to revenues for the period. For the third quarter, the Company's Express-1 operations expanded revenues by $2.1 million or 18% over the same three-months in 2007. Bounce Logistics gained traction and contributed $3.0 million to the overall increase in revenues. Bounce Logistics is a start-up premium truckload brokerage operation that began operations in March 2008. The Company's other business unit, Express-1 Dedicated, increased revenues slightly during the period. When combined, the Express-1 Expedited Solutions' business units delivered record revenue and operating profit during the period and the Company continued to grow at a healthy...

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