Cargojet Announces Stronger Third Quarter Results

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

SOURCE: Cargojet Inc.

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CO: Cargojet Inc.
ST: Ontario

-0- Nov/12/2012 11:15 GMT

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