This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Quality Distribution, Inc. Announces Preliminary Fourth Quarter 2012 Results

Stocks in this article: QLTY

TAMPA, Fla., Feb. 12, 2013 (GLOBE NEWSWIRE) -- Quality Distribution, Inc. (Nasdaq:QLTY) ("Quality"), a North American logistics and transportation provider with market leading businesses, today announced the following estimated preliminary fourth quarter 2012 results:

  • For the three-month period ended December 31, 2012, Quality expects its total revenue to be approximately $215.0 million, operating income to be within the range of $9.9 million to $10.6 million, and adjusted EBITDA to be within the range of $20.0 million to $20.7 million. Expected adjusted EBITDA excludes the following: costs associated with the previously disclosed termination of an independent affiliate relationship of $1.3 million, residual acquisition expenses of $0.6 million, the effects of Hurricane Sandy of $0.7 million, and acquisition earnout adjustments of ($2.6) million (a reconciliation of estimated operating income to estimated adjusted EBITDA is included in the attached financial exhibits);  
  • For the three-month period ended December 31, 2012, Quality expects revenue from its chemical logistics business to be approximately $145.0 million, revenue from its energy logistics business to be approximately $39.0 million and revenue from its intermodal business to be approximately $31.0 million;  
  • For the three-month period ended December 31, 2012, Quality expects net income to be within the range of $0.19 and $0.21 per diluted share. After applying a normalized tax rate of 39%, and excluding the other items noted above, Quality expects adjusted net income to be within the range of $0.10 to $0.12 per diluted share (a reconciliation of estimated net income to estimated adjusted net income is included in the attached financial exhibits);  
  • Cash and total debt at December 31, 2012 were approximately $2.7 million and $418.8 million, respectively. Borrowing availability under the Company's asset-based revolving credit facility was $55.2 million at December 31, 2012;  
  • For the three-month period ended December 31, 2012, gross capital expenditures were $4.9 million and sales of equipment were $6.0 million. 

This information is being provided in anticipation of the Company's participation in the Stifel Nicolaus Transportation and Logistics Conference and the BB&T 28 th Annual Transportation Conference on Wednesday, February 13, 2013. The Company plans to release its full fourth quarter and fiscal year 2012 financial results on Wednesday, February 20, 2013 (see details below).

On November 23, 2012, the Company initiated a program to repurchase up to $15 million of its common stock. During the fourth quarter of 2012, the Company repurchased 0.6 million shares for approximately $3.7 million. From January 1, 2013 through February 11, 2013, the Company repurchased 0.5 million shares for approximately $3.2 million.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs