NEW YORK, Sept. 27, 2010 (GLOBE NEWSWIRE) -- Rand Logistics, Inc. (Nasdaq:RLOG) ("Rand") today announced that since its first quarter earnings call, it has experienced several unrelated operating incidents which collectively will result in a shortfall in the Company's forecasted fiscal year 2011 financial results. The financial impact of these incidents, including the insurance deductibles for repair costs, the foregone time and revenue, and the inefficiencies created in trade patterns, will cause the aforementioned shortfall. Given the unprecedented number and timing of these incidents and the Company's expectation that the overall impact is non-recurring, they do not affect management's prior guidance of $0.90 to $1.00 of free cash flow per share commencing with the repowered Michipicoten reentering service in the spring of 2011, assuming no drastic change in economic conditions.
Rand Logistics Experiences Several Operating Incidents Impacting Fiscal Year 2011 Financial Guidance
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