S. The company has over 3,800 clients in industry, finance and
government
with revenues in excess of $80 million, over 600 employees and 23 offices in
12 countries
covering North and South America, Europe, Africa, the Middle East
and Asia."
CONFERENCE CALL
TODAY -- Pacer International will hold a
conference call for investors, analysts, business and trade
media, and
other interested parties at 5:00 p.
510/865-0800, or steve@potashco.0
Accounts
payable and accrued liabilities 158.8
Selling, general +
admin.8
----
------------------------------------------------------------------
Income from operations
22.6 10.
The Transportation and Logistics sector category includes
industries providing transportation
of people, cargo, goods, merchandise
and products by land, air or sea.
glossaries couriers
In the months ahead, the expanded
Global Insight
Transportation Service will work to develop new products and services designed
to
meet the planning needs of shippers, carriers and governments, including
railroads, trucking companies
, vessel operators, port authorities, air cargo
transport providers, and federal, state, and local
agencies.S. Should one or
more of these risks or uncertainties materialize, or should underlying
assumptions or estimates prove incorrect, actual results may vary
materially from those described
herein as anticipated, believed,
expected or intended.3
Other
(0.1)
Retained earnings
0.
Unaudited Consolidated Statements of Operations
($ millions, except
per share amounts)
1st Quarter
----------------------------------------
2005
2004 Variance %
-------------------------------------- -------- ---------- -------
-
GAAP
Segments
Revenues
Wholesale
263.9%
Cons.2%
Income from Operations
Wholesale
22.nhtsa messengers
("Reebie") for an undisclosed sum.com)
"Our first quarter 2005 financial performance
was the best we have
had in a first quarter during the last five years," said Don Orris,
Chairman
and Chief Executive Officer.
Alternatively, an audio-only, simultaneous Web cast of the live
conference
call can be accessed through the Investor Relations link on
the company's Web site at www.pacer-international
.3
Deferred income taxes 9./Elim.0 10.1) (3
.05 20.couriers consignments
Its wholesale services
include Stacktrain (cost-efficient, two-tiered rail transportation
for
containerized shipments) and cartage (local trucking) services, and
its retail services include
intermodal marketing, truck brokerage,
truck services, warehousing and distribution, international
freight
forwarding, and supply-chain management services.1
-------------------
Total current assets
240.7
Change in other current assets (7.25 $0. Also included
in this category are industries
and companies engaged in importing and exporting, customs brokers
, packing,
warehousing, and storage.
nvocc airfreight
, Global Insight, Inc. Kasputys, Chairman
and Chief Executive
Officer of Global Insight. Diluted earnings per share increased to $0. Eastern
Time to May 24 at
11:59 p.com
CERTAIN FORWARD-LOOKING STATEMENTS -- This press release contains
or may contain
forward-looking statements (as such term is defined in
the Private Securities Litigation Reform Act
of 1995). Except as otherwise required by federal
securities laws, the company does not undertake
any obligation to
update such forward-looking statements whether as a result of new
information
, future events or otherwise.
Consolidated Balance Sheet
($ millions)
April 8, 2005
----------------------------------------------------------------------
(Unaudited)
Assets
Current assets
Cash
and cash equivalents $ -
Accounts receivable,net
225.4
Prepaid expenses and other
11.6
Long-term liabilities
Long-term debt and capital leases
139. Consolidated
----------------------------------------------------------------------
GAAP
Revenues $ 263.1
49.30
Pacer International, Inc.stb intercity
9 27.4 20.nvocc refrigerated
S. The results from
these models are employed by
shippers, freight lines and government agencies for economic assessment
and
rate negotiation.com/) is a privately held
company formed to bring together the two most respected
economic analysis,
forecasting and financial information companies in the world, DRI and WEFA.0
Other 2.4) -23.5 42.5%
Retail
2.oig nhtsa
6 million of cash flow from operations in
the first quarter of 2005 and
paid down $15.9
Accumulated depreciation (53.4
Accumulated
other comprehensive loss (0.0%
Corporate (4.8
%
Net Income 11.harmer logistics
In addition to the widely
used TRANSEARCH(R) freight
movement database, Reebie's product line includes
computer models of carrier costs for the rail,
truck and barge modes, together
with intermodal costs.
"This acquisition will immediately
provide significant benefits to the
clients of both Reebie and Global Insight," said Joseph E. Global
Insight collects and delivers economic
and financial information to clients and also provides a broad
range of
consulting capabilities.25, up 20.pacerglobal.8
Other assets
17.3
Stockholders' equity
Common stock
0.4
Paid In capital
276.4
----------------------------------------------------------------------
Net income
$ 11.logistics warehouses
4576, (vicki.4 million earned in the same quarter
of 2004, a gain
of 21.4
million from $2.m.com
ABOUT PACER INTERNATIONAL -- Pacer International
, a leading
non-asset based North American third-party logistics and freight
transportation provider
, offers a broad array of logistics and other
services through its subsidiaries and divisions to facilitate
the
movement of freight from origin to destination. These
forward-looking statements are based
on the company's current
expectations and are subject to a number of risks, uncertainties and
assumptions
.6)
Change in current liabilities (7.2 $ 235.3 210.0
3.modes airfreight
freight transportation
and distribution for over 35 years.globalinsight. Kasputys, Global Insight
Chairman and CEO,
+ (781) 487.2
percent.1 percent to $2.7 million in the same quarter of
2004. Eastern Time today (Tuesday, May
10).4
Adjustments to net income
Depreciation
1.6
--------------------------------------------
--------------------------
Cash Flows from Investing Activities
Capital expenditures
(0.0 11.4 9.glossaries freezing
Global Insight Acquires Robert Reebie
and Associates Inc.
Reebie is a premier
information and consulting firm specializing in U.
Business Editors/Logistics + Transportation Writers
CONCORD, Calif.0 percent, and revenues
increased $42.1
Deferred income taxes 4.
Unaudited Consolidated Statement of Cash Flows
----------------------------------------------
------------------------
1st Quarter
($ in millions) 2005
-------------------------------
---------------------------------------
Cash Flows from Operating Activities
Net income
$ 11.6 205.4
-------------------------------
---------------------------------------
Income before income
taxes
18.5%
Retail 235.1) -36.nvocc intercontinental
Contact:
Joseph E.2101, (joseph.com)
Vicki Van Mater, VP Corporate Communications
, Global Insight,
+ (703) 251.m.m.com, and
www.1)
------------------------------------
----------------------------------
Net cash provided by operating activities
6.0)
----------------------------------------------------------------------
Net cash
used for financing activities (5. expenses 17. Entries
(38.9 19.4 2.glossaries airfreight
9)
---------
----------
Property and equipment, net 48.1
-------------------
Total assets
$ 603.6
-----------
--------
Total current liabilities 185.7
===================
Pacer International
, Inc.8)
Proceeds from sales of property and equipment -
---------------
-------------------------------------------------------
Net cash used for investing activities
(0.
Unaudited Consolidated Statements of Operations
($ millions)
1st Quarter 2005
---------------------------------------------
Wholesale Retail Corp.3
Direct operating
expenses 30.0
Depreciation
expense 1.2 18.freezing glossaries
Ben Hackett, Executive Managing Director of Trade and Transportation
at
Global Insight, stated, "The Reebie professional staff will immediately
relocate to Global
Insight's Lexington, MA offices, where we will work
together to develop a broad range of exciting
new capabilities for the
transportation industry.30 from
$0.2)
-------------------
Total stockholders' equity
276.8
Deferred income taxes 1.1 (38
.9%
----------------------------------------------------------------------
Total
460.1 417.0 3.trolleys marketplaces
Developed from a combination of public sources and primary
shipments data from
major freight carriers, TRANSEARCH(R) provides the most comprehensive
information
on domestic freight activity available.kasputys@globalinsight.6 million, or 10.0 million of debt.3)
Other (0.2 17.0%
freezing intercity
For
the quarter ended April 8, 2005, net income increased to $11. Among the important factors that could
cause actual
results to differ materially from those expressed or implied in the
forward-looking
statements are the general economic and business
conditions; congestion, work stoppages, capacity
shortages or weather
related issues and service disruptions affecting our rail and motor
transportation
providers; industry trends, including changes in the
costs of services from rail and motor transportation
providers;
changes in our business strategy, development plans or cost savings
plans; the loss
of one or more of our major customers; competition;
availability of qualified personnel; the frequency
or severity of
accidents, particularly involving our trucking operations; changes in,
or the failure
to comply with, government regulations; changes in
interest rates; difficulties in maintaining or
enhancing our
information technology systems; our ability to integrate acquired
businesses; terrorism
and acts of war; and increases in our leverage.0 0.3 25.3%
Diluted Earnings per Share
$0.refrigerated consignments
, the private
company that brought together DRI and WEFA, the world's most respected
economic
analysis, forecasting and financial information companies, today
announced it has acquired substantially
all the assets of Robert Reebie and
Associates, Inc.3 percent. Pacer International
is headquartered
in Concord, California.
Note to editors: Issued by Steve Potash and Company, tel.0
Other
assets
Intangible assets, net 288.8
1.0 21.oig logistics
With its April 2003 acquisition of World Markets
Research Centre, Global Insight
also provides the world's first same-day
analysis and risk assessment service covering 196 countries
and 4 industries,
providing insightful analysis of market conditions and key events around the
world
.com. Alternatively, a replay can be accessed through the Investor
Relations link on the company's
Web site at
www.6
Property and equipment
Property, plant + equipment at cost
101.8
-----------------
--
Total liabilities and equity $ 603.4 (4.7%
---
-------------------------------------------------------------------
Total
21.30 $0.marketplaces trolleys
For persons
unable to participate in either the conference call or the Web cast
, a
digitized replay will be available from May 10 at 10:15 p.pacer-international. Its business units
Pacer
Stacktrain and Pacer Global Logistics are headquartered in Concord,
California, and in Dublin
, Ohio, respectively.3
-------------------
Total long-term liabilities 141.4
Proceeds from issuance of common
stock 0.9 2.1) 21.0) (7.0 0.freezing couriers
Merger to Create New
Information Capabilities for the Transportation Industry
WALTHAM, Mass. The Reebie
acquisition
consolidates our position as the transportation industry's leading
provider of intelligence, solutions
and insights for planning and decision-
making" concluded Kasputys."
About Global Insight
Global Insight, Inc. (Nasdaq:PACR), the non-asset based North American
third-party logistics
and freight transportation provider, today
reported financial results for the three months ended
April 8, 2005.4
million from $9.pacerstack.0 4.2 25.0) (1.nvocc warehouses
county-
level freight
movement data by commodity group and mode of transportation. domestic freight markets with Global Insight
's trade
and transportation databases, forecasting models and international
perspective, we can
provide a complete picture of international and domestic
freight markets for every commodity and
mode of transportation.
The company generated $6.
Interest expense in the 2005 quarter decreased
11. This was due to
reduced debt levels. To participate, please call five minutes early by dialing
(888)
428-4473 (in USA) and ask for "Pacer First Quarter Earnings Call. Web sites:
www.0
-------------------
Total other assets
315.7
===================
Liabilities + Equity
Current liabilities
Current maturities of long-term
debt and
capital leases $ -
Book overdraft
27.7
Change in receivables
6.1
----------------------------------------------------------------------
Net change in cash and cash equivalents -
Cash at beginning of
period -
-----------------------------------------------
-----------------------
Cash at end of period $ -
======================================================================
Pacer International, Inc.8 - 30.glossaries stb
With this acquisition, Global Insight will combine its extensive data,
forecasting and international
perspective with Reebie's databases and analytic
capabilities to provide the most extensive coverage
of commercial freight
traffic available anywhere.
Reebie's TRANSEARCH(R) database is the exclusive
source for U. "By combining Reebie's
thorough coverage of U. (http://www. Eastern Time.4) $
460.4) (31.trolleys logistics
Pacer International Reports 1st Quarter Net Income Up 21.3 Percent
----Pacer
International
, Inc. "This reflects operating
improvements in both our retail and wholesale segments despite a
January
rail embargo of Southern California locations due to severe
weather, and continuing rail service
issues. For the replay, dial (800)
475-6701 (USA) or (320) 365-3844 (international), using access
code
778358.
Additional information about these and other factors that could affect
the company
's business is set forth in the company's various filings
with the Securities and Exchange Commission
, including those set forth
in the company's annual report on Form 10-K for the year ended
December
31, 2004 filed with the SEC on March 14, 2005.com
Pacer International
, Inc.7
Debt, revolver, net and capital lease payments (15.9)
---------------
-------------------------------------------------------
Effect of exchange rate changes on cash
0.1
Cost of purchased
transportation 190.8
Income
tax 7.2 238.4 2.trolleys messengers
Global Insight
provides the most comprehensive economic coverage of countries,
regions and industries available
, using a unique combination of expertise,
models, data and software within a common analytical framework
to support
planning and decision-making.vanmater@globalinsight."
International callers can dial
(612) 332-0335.8)
----------------------------------------------------------------------
Cash
Flows from Financing Activities
Book overdraft
8.3 $ (38.4) 357.2
Interest expense
2.4
======================================================================
Diluted Earnings
Per
Share $ 0.9 20.
Scientific, technical and research oriented sites are listed under
glossaries stb
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