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Press Release -
Mercator Transport Group Corporation |
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Mercator is definitely a penny stock. However, Mercator takes the edge of a penny stock without the risk normally associated to penny stocks. This is because unlike other penny stocks that are on the “hit or miss” mode, we are an economical reality that bills hundreds of invoices everyday, to almost a 1000 customers throughout the planet, that collects 50 M$ receivables per annum, pays 4 M$ salaries, and invests 500 K$ to 1M$ every year to grow the service base, to offer always more to customers... - Jean Pierre Apelian (GMT) (Interview published February 11, 2011) |
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MERCATOR TRANSPORT
ANNOUNCES RECORD QUARTERLY REVENUE OF $12 MILLION (via Thenewswire.ca) LAVAL, QUEBEC, March 24, 2011 - Mercator Transport Group Corporation ("Mercator Transport") (TSX VENTURE: GMT), announces its financial results for the three-month period ended January 31, 2011. Financial Highlights Selected Consolidated Results
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|(in thousands of|Q3 2010-2011|Q3 2009-2010|2010-2011 |2009-2010 |
|Canadian | | |(9 months)|(9 months)|
|dollars, | | | | |
|amounts per | | | | |
|share excepted) | | | | |
|----------------------------------------------------------------|
|Revenue |12,017 |9,416 |35,680 |20,545 |
|----------------------------------------------------------------|
|EBITDA1 (EBITDA1|(345) |12 |(297) |(202) |
|loss) | | | | |
|----------------------------------------------------------------|
|Net Profit (Net |(210) |(61) |(225) |2 |
|Loss) | | | | |
|----------------------------------------------------------------|
|Net Profit (Net |(0.006) |(0.002) |(0.007) |0.000 |
|Loss) | | | | |
|per share | | | | |
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Non-GAAP measure, as defined in Mercator Transport’s MD&A. Mercator Transport shows more than $11.5 million in quarterly revenue for a fourth consecutive quarter, passing the $12 million mark in the last quarter, representing a 27.6% increase compared to the same period a year earlier. For the first nine months of 2010-2011, Mercator Transport revenue reached $35.7 million, a 73% increase compared to the first nine months of last year. Mercator Transport posted a $345,000 EBITDA1 loss, as well as a net loss of $210,000 ($0.006 per share) for the third quarter of 2010-2011, compared to EBITDA1 of $12,000 and net loss of $61,000 ($0.002 per share) for the same period a year earlier. The Corporation's Canadian transportation and distribution activities continue to generate sustained profitability, whereas newly created subsidiaries and latest international acquisitions give rise to start up phase costs which are necessary to their integration. During the third quarter of 2010-2011, Mercator Transport hired key staff in a number of sectors, with the objective of providing the corporation with the multinational operational and control structure which has become necessary, considering the needs created by international growth. "We are pleased to see that the businesses we have recently acquired or created internationally are contributing to Mercator Transport's revenue growth", said Mr. Jean-Pierre Apelian, President and CEO. For further information, please refer to Mercator Transport's management discussion and analysis and quarterly unaudited financial statements, available on SEDAR's website, at www.sedar.com. About Mercator Transport Mercator Transport specializes in freight forwarding, international logistics and distribution. Based in Montreal (Canada), with offices in the United States, France, Ghana, Kenya, Uganda, Tanzania and Zambia, Mercator Transport offers value-added services in global supply chain management, and designs tailor-made solutions. Customer intimacy and commitment differentiates Mercator Transport in its ability to implement customers' requirements. Neither TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For further information: Mr. Patrick Bazinet, Director and Interim CFO Investor relations investisseur@corpgmt.com (450) 667-8886 Copyright (c) 2011 Thenewswire.ca - All rights reserved.
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