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 2013 Results

-- Q4 Revenue of $225 Million Up 4.7% Organically Over Prior Year Quarter -- -- Full Year Revenue of $930 Million Up 10.4% Over Prior Year -- -- Quality Reports Q4 Net Loss of $0.85 per Diluted Share on Non-Cash Impairment Charges – -- Quality Generates Q4 Adjusted Net Income of $0.13 per Diluted Share --

-- Quality Reduces 2013 Debt by $36 Million Using Record $46 Million of Operating Cash Flow – -- Company Initiates Earnings and Free Cash Flow Guidance for 2014 --

TAMPA, Fla., Feb. 25, 2014 (GLOBE NEWSWIRE) -- Quality Distribution, Inc. (Nasdaq:QLTY) ("Quality" or the "Company"), a North American logistics and transportation provider with market leading businesses, today reported strong increases in top line revenues for each business segment for the fourth quarter and full year periods. Fourth quarter consolidated revenues rose 4.7% versus the prior-year period and full year revenue for 2013 rose 10.4% versus 2012.

The Company reported a net loss of $22.8 million, or $0.85 per diluted share, for the fourth quarter ended December 31, 2013, compared to net income of $5.7 million, or $0.21 per diluted share, for the fourth quarter ended December 31, 2012. The fourth quarter 2013 loss was driven primarily by $35.6 million, or $0.82 per diluted share, of non-cash goodwill and intangible asset impairment charges related to the Energy Logistics business.

Adjusted net income for the fourth quarter of 2013 was $3.6 million, or $0.13 per diluted share, compared to adjusted net income of $3.0 million, or $0.11 per diluted share, for the same quarter in 2012. Adjusted results are calculated by excluding the following pre-tax items not considered part of regular operating activities: for the fourth quarter of 2013, non-cash impairment charges of $35.6 million and reorganization costs of $4.1 million related to the Energy Logistics business and $1.4 million for excess claims settlement expenses in the Chemical Logistics business; for the fourth quarter of 2012, $1.3 million primarily due to an independent affiliate conversion in the Chemical and Energy Logistics businesses, $0.6 million of acquisition costs, and $0.7 million of losses related to Hurricane Sandy in the Intermodal business, offset by a net acquisition earnout benefit in the Energy Logistics business of $2.6 million. A reconciliation of net (loss) income to adjusted net income for both periods is included in the attached financial exhibits.

1 of 9

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
AAPL $94.66 1.10%
FB $117.73 -0.71%
GOOG $693.20 -0.72%
TSLA $234.41 -3.10%
YHOO $35.92 -1.70%


Chart of I:DJI
DOW 17,719.05 -172.11 -0.96%
S&P 500 2,057.92 -23.51 -1.13%
NASDAQ 4,756.0180 -61.5760 -1.28%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs