MISSISSAUGA, ON, May 6, 2013 /CNW/ - Cargojet Inc. (TSX: CJT, CJT.A)
announced today financial results for the first quarter ended March 31,
For the First Quarter Ended March 31, 2013:
Total Revenues were $40.7 million, an increase of $0.6 million or 1.5%
versus the previous year.
Gross Margin was $4.9 million, a decrease of of $0.6 million or 10.9%
versus the previous year
EBITDA was $2.7 million, an increase of $0.8 million or 42.1% versus the
"We are very pleased with the improvement in financial and operating
results, as compared to the previous year, despite two less operating
days in the quarter", said Ajay K. Virmani, President and Chief
Executive Officer. "We continue to see modest improvements in demand
and volumes from all revenue sectors, although overall yields and
pricing remain under pressure". "We will continue to manage our cost
prudently and gain efficiencies where available", he concluded.
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 charters.
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.
SOURCE: Cargojet Inc.
For further information:
Vice President Marketing, Public & Government Relations
Tel: (905) 501 7373