Quality Distribution, Inc. Announces Preliminary Third Quarter 2010 Results
TAMPA, Fla., Oct. 26, 2010 (GLOBE NEWSWIRE) -- Quality Distribution, Inc. (Nasdaq:QLTY) (" Quality") today announced preliminary results for the third quarter ended September 30, 2010.
Quality estimates that:
- For the three-month period ended September 30, 2010, Quality expects its total revenue to be approximately $181 million, and Consolidated EBITDA to be within the range of $16.5 million to $16.8 million;
- For the three-month period ended September 30, 2010, Quality expects operating income to be within the range of $9.6 million to $9.9 million;
- Consolidated EBITDA for the three-month period ended September 30, 2010 excludes restructuring costs of approximately $2.4 million, which primarily consists of approximately $2.0 million related to an estimated withdrawal liability from various multi-employer pension plans;
- For the last twelve-month period ended September 30, 2010, Quality expects total revenue to be approximately $672 million, and Consolidated EBITDA to be within the range of $61.5 million to $61.8 million;
- For the last twelve-month period ended September 30, 2010, Quality expects operating income to be within the range of $43.6 million to $43.9 million;
- Cash and total debt at September 30, 2010 were approximately $4 million and $316 million, respectively;
- Availability under Quality's asset-based revolving credit facility was approximately $65 million at September 30, 2010 and the outstanding borrowings under the ABL Facility were $65.2 million; and
- For the three-month period ended September 30, 2010, capital expenditures are expected to be approximately $2.5 million, and net proceeds from sales of property, plant and equipment are expected to be approximately $2.2 million.
Gary Enzor, Chief Executive Officer, stated, "Our anticipated third quarter results reflect a continued improvement in year over year performance, delivering strong free cash flow, enhanced liquidity and a solid reduction in leverage."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV