This Day On The Street
Continue to site
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

Quality Distribution, Inc. Announces Fourth Quarter And Full Year 2012 Results

-- Quality Reports Fourth Quarter Revenue of $215.4 Million --

-- Company Earns Fourth Quarter 2012 Net Income of $0.21 per Diluted Share --

-- Q4 2012 Adjusted Net Income of $0.11 per Diluted Share –

-- Fourth Quarter Adjusted EBITDA Up 13.4% vs. Prior-Year Period --

TAMPA, Fla., Feb. 20, 2013 (GLOBE NEWSWIRE) -- Quality Distribution, Inc. (Nasdaq:QLTY) ("Quality" or the "Company"), a North American logistics and transportation provider with market leading businesses, today reported net income of $5.7 million, or $0.21 per diluted share, for the fourth quarter ended December 31, 2012, compared to net income of $5.5 million, or $0.22 per diluted share, in the fourth quarter ended December 31, 2011. Net income for the year ended December 31, 2012 was $50.1 million, or $1.84 per diluted share compared to net income of $23.4 million, or $0.96 per diluted share, for 2011.

Adjusted net income for the fourth quarter of 2012 was $3.0 million, or $0.11 per diluted share, compared to adjusted net income of $3.8 million, or $0.15 per diluted share, for the same quarter in 2011. Both periods are calculated by applying a normalized tax rate of 39% and excluding items not considered part of regular operating activities.

Adjusted net income for the fourth quarter of 2012 included the following pre-tax items which the Company does not consider to be part of its regular operating activities: costs associated with the previously disclosed termination and conversion 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 net acquisition earnout benefit of ($2.6) million. A reconciliation of net income to adjusted net income for both periods is included in the attached financial exhibits.

"Our preliminary fourth quarter results were in line with the expectations we shared during our third quarter conference call," stated Gary Enzor, Chief Executive Officer. "This past year was filled with transformative events such as multiple Energy Logistics acquisitions and a difficult but necessary affiliate transition, which pressured our organization on numerous fronts. Looking forward, our leadership team is optimistic about 2013 as we focus intensely on improving operating results, controlling our capital spending and delivering on our goal to generate strong earnings and returns for our shareholders."

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,735.51 +263.14 1.60%
S&P 500 1,978.23 +26.87 1.38%
NASDAQ 4,755.0660 +47.2910 1.00%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs