LAVAL, QC, Sept. 11 /CNW Telbec/ - Mercator Transport Group Corporation
("Mercator Transport") (TSX VENTURE: GMT), announces its financial results for
the three-month period ended July 31, 2009.
Financial Highlights
Selected Consolidated Information
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(in thousands of Canadian
dollars, amounts per
share excepted) Q1 2010 Q1 2009 Q4 2009
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Revenue 4,322 6,820 8,351
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EBITDA(1) 20 78 217
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Net Profit (Net Loss) (20) 26 112
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Net Profit (Net Loss) basic per share (0.001) 0.001 0.004
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Mercator Transport sales reached $4,321,000 in the first quarter of
fiscal 2010, a $2,500,000 or 37% decrease compared to $6,820,000 for the same
period last year. Mercator Transport reported a net loss of $20,000 ($0.001
per share) for the first quarter of 2010, compared to a net profit of $26,000
($0.001 per share) for the same period last year.
Mercator Transport generated EBITDA(1) of $20,000 for the first quarter
of 2010, compared to $78,000 for the first quarter of 2009. This decrease in
EBITDA(1) is mainly accounted for by stable gross profit reported in the last
quarter compared to the same period a year ago, combined to rising selling and
administrative expenses.
The first quarter of 2010 was also marked by the announcement of the
acquisition of the French corporation S.A.S. Trans Orient Services,
specialized in international transport brokerage, for an amount of $1,068,000
payable at closing, which has not yet taken place.
"Declining sales reflect the economic downturn our clients have to
compose with and postponement of certain projects. Despite the downturn, we
are moving ahead with our initial strategy and pursuing our growth plan," said
Mr. Jean-Pierre Apelian, President and CEO.
For further information, please refer to Mercator Transport's management
discussion and analysis and quarterly unaudited financial statements,
available on SEDAR's website at www.sedar.com.
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(1) Non-GAAP measure, as defined in Mercator Transport's MD&A.
About Mercator Transport
Mercator Transport specializes in transport brokerage, international
logistics and distribution. With offices in Montreal (Canada), Las Vegas (USA)
and Lyon (France), Mercator Transport offers value-added services in global
supply chain management, and designs tailor-made solutions. Its customer
relationships and its collaborators' commitment are what differentiates
Mercator Transport in its ability to implement customers' requirements.
Neither TSX Venture Exchange nor its Regulatory Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00020866EF
