MISSISSAUGA, ON, Nov. 12, 2012 /CNW/ - Cargojet Inc. (TSX: CJT, CJT.A)
announced today financial results for the third quarter ended September 30,
For the Third Quarter Ended September 30, 2012:
-- Total Revenues were $41.8 million, an increase of $1.5 million
or 3.7% versus the previous year.
-- Gross Margin was $6.8 million, a decrease of $0.8 million or
10.5% versus the previous year
-- EBITDA was $5.1 million, an increase of $0.7 million or 15.9%
versus the previous year
"Strong growth in our air cargo charter revenue streams and the expansion of
our overnight network in Eastern Canada, has allowed us to offset continued
weakness in our core overnight revenues during the Quarter," said Ajay
Virmani, President and Chief Executive Officer. "Prudent cost management and
operating efficiencies have resulted in significant improvements to operating
yields and cash flows," he added.
Cargojet is Canada's leading provider of time sensitive overnight air cargo
services and operates a network across North America as well as global air
Notice on Forward Looking Statements:
Certain statements contained herein constitute "forward-looking statements".
Forward-looking statements look into the future and provide an opinion as to
the effect of certain events and trends on the business. Forward-looking
statements may include words such as "plans," "intends," "anticipates,"
"should," "estimates," "expects," "believes," "indicates," "targeting,"
"suggests" and similar expressions. These forward-looking statements are
based on current expectations and entail various risks and uncertainties.
Reference should be made to the issuer's most recent Annual Information Form
filed with the Canadian securities regulators, and its most recent Annual
Consolidated Financial Statements and Quarterly Financial Statements and Notes
thereto and related Management's Discussion and Analysis (MD&A), for a summary
of major risks. Actual results may materially differ from expectations, if
known and unknown risks or uncertainties affect our business, or if our
estimates or assumptions prove inaccurate. The issuer assumes no obligation
to update or revise any forward-looking statement, whether as a result of new
information, future events or any other reason, other than as required by
applicable securities laws. In the event the issuer does update any
forward-looking statement, no inference should be made that the issuer will
make additional updates with respect to that statement, related matters, or
any other forward-looking statement.
Pauline Dhillon Vice President Marketing, Public & Government Relations Tel:
(905) 501 7373 firstname.lastname@example.org
SOURCE: Cargojet Inc.
To view this news release in HTML formatting, please use the following URL:
CO: Cargojet Inc.
NI: AIR ERN
-0- Nov/12/2012 11:15 GMT
Press spacebar to pause and continue. Press esc to stop.