Integrated Freight Corp (OTCMKTS:IFCR), a leading motor freight carrier, announced recently in its SEC-10Q report that it had generated a small profit in September 2014 quarter. As per the reports, company’s CEO David N. Fuselier told reporters that the company was able to generate positive operating income during the second quarter.
He further added that the results were below than expectations; however, the management was delighted to see the constant growth of the company over the past few months.
Financial Highlights For Quarter:
For the September quarter, the revenues accounted to $4.9 million, slightly less than the revenue generated during the same period in the previous year. The main reason for this reduction was negative growth in the fuel surcharges. Along with revenues, operating expenses also reduced as much as 10.7% primarily due to lower insurance and fuel costs.
As a result of this cost reduction, Integrated Freight made $204,000 income from operations compared to a loss of $98000 during the same time in the previous year. Even though, the income was not up to what the management had though, yet, Integrated managed to keep general and administrative expenses to 7% of total revenue.
When it comes to EBITDA, the company managed to post $1.12 million, 27% higher than the previous year.
The senior management of the company is delighted to announce these results and hopes that the numbers will continue to improve in the future as well. According to Hank Hoffman, President, Integrated Freight, it’s great to post a reasonable profit at a time when the market situation is not that good. The company will continue to focus on its operations and try to come up with better products and services in the future.
Integrated Freight Corp (OTCMKTS:IFCR) will keep its shareholders informed about all the future advancements from time to time.