Wako Logistics Group Reports Fiscal Third Quarter and Nine Months 2005 Results; Third Quarter Revenues up 121%-Net Income up 224% Year to Yeartitle
CHICAGO, Nov. 16 /Xinhua-PRNewswire-FirstCall/ -- Wako Logistics Group,
Inc. (WLG)(OTC Bulletin Board: WKOL), a global provider of integrated
transport and logistics services, is pleased to report its financial results
for the three and nine months ended September 30, 2005.
Third Quarter Results 2005
WLG reported revenue for the third quarter 2005 increased 121% compared to
revenues in the same period last year, growing from $5.93 million to $13.08
million. Third quarter gross profit margins grew from 14.9% in 2004 to 18.6%
for 2005. Net income after tax increased 224% to $324,000 in the third
quarter of 2005 from $100,000 in the same period for 2004.
Nine-Month Results 2005
For the first nine months of 2005, WLG reported revenues of $29.3 million
compared to $15.7 million, for an increase of 87% over last year. Gross
profit margins for this period increased from 15.6% in 2004 to 18.1% in 2005.
WLGs after tax income increased by nearly 74% from $268,000 for the first
nine months in 2004 to $465,000 for the same period in 2005.
Management Review and Outlook
Mr. Christopher Wood, Chief Executive Officer commented, "We are pleased
to report that our third quarter revenue results were the highest in our
history. We are also very pleased with profit and revenue contributions of
our U.S. subsidiary Kay ONeil as well as our expanded efforts in China. When
the acquisitions of ASEAN-Australia, Kay ONeil-USA, and ALI-Los Angeles are
fully reflected in our financial statements, we are confident that investors
will be as excited about our future business as we are. Looking at a
comparison to our second quarter, revenues increased significantly from $9.4
million to $13.8 million in the third quarter. Net income has gone from
$61,000 to about $455,000. We are very encouraged by these results and see
them as a real validation of our business strategy.
About Wako Logistics Group, Inc.
Wako Logistics Group Inc. is a non-asset based third-party logistics and
freight transportation provider, offering a broad array of logistics and
related services through its subsidiaries and divisions. With more than three
decades of experience in international transportation, Wako has established
itself as a leading provider of traditional freight forwarding and freight
management services in Asia, Australia and North America. Additional
information is available at http://www.wakogroup.com .
Forward-Looking Statements
The statements contained in this release that are not historical facts are
forward-looking statements (as such term is defined in the Private Securities
Litigation Act of 1995). Actual results may differ materially from those
anticipated or implied in the forward-looking statements. These forward-
looking statements involve risks and uncertainties, including competitive
factors and pricing and supply pressures; the Companys dependence upon
conditions in the air, ocean and land-based freight forwarding industry; the
size and resources of many of the Companys competitors; and the need for the
Company to effectively integrate acquired businesses and to successfully
deliver its primary services. Additional information with respect to these
and other factors that could materially affect the Company is included in the
Companys filings with the Securities and Exchange Commission, including its
most recent Form 10-Q filing.
Contact:
Rick Oravec
Tel: +1-212-924-3548
Email: rick@vircomglobal.com
