HOUSTON, April 5 /PRNewswire-FirstCall/ -- EGL, Inc. (Nasdaq: EAGL)
announced today that it expects to report fully diluted earnings per share for
the first quarter of 2004 in the range of $0.10 to $0.12, compared to earlier
management guidance of $0.05 to $0.07. Diluted earnings per share for the
first quarter of 2003 were $0.06.
"During the first quarter of 2004, the continuing economic recovery
resulted in strong international activity overcoming weak domestic priority
volumes," explained James R. Crane, Chairman and Chief Executive Officer.
"March shipments were stronger than expected, especially on the heels of the
continued growth of our U.S. import and export activity. In addition,
increased volumes in Europe, Asia and the Middle East provided further
evidence that our low cost business model is positioned to benefit from the
economic recovery. Based on our preliminary results as of the end of the
first quarter, we expect our diluted earnings per share to surpass our
previous guidance."
Earnings Conference Call
EGL, Inc. plans to host a conference call for shareholders and the
investing community on May 6, 2004 at 11 a.m. Eastern time (8 a.m. Pacific) to
review results for the quarter ended March 31, 2004. The call can be accessed
by dialing (719) 457-2680, access code 544965 and is expected to last
approximately 60 minutes.
Callers are requested to dial in at least 5 minutes before the start of
the call. The call will also be available through live webcast on the
company's website, http://www.eaglegl.com , on the Investor Relations page. An audio
replay will be available until Thursday, May 20, 2004 at (719) 457-0820,
access code 544965.
Houston-based EGL, Inc. operates under the name EGL Eagle Global
Logistics. EGL is a leading global transportation, supply chain management
and information services company dedicated to providing superior flexibility
and fewer shipping restrictions on a price competitive basis. With 2003
revenues exceeding $2.1 billion, EGL's services include air and ocean freight
forwarding, customs brokerage, local pick up and delivery service, materials
management, warehousing, trade facilitation and procurement, and integrated
logistics and supply chain management services. The Company's shares are
traded on the Nasdaq National Market under the symbol "EAGL".
CAUTIONARY STATEMENTS
The statements in this press release (and statements in the conference
call referred to above) regarding projected profitability, adding to growth
and initiatives in Asia, Europe and the Middle East, first quarter results and
diluted earnings per share, our ability to outperform the economy and other
statements which are not historical facts, are forward looking statements.
Such statements involve risks and uncertainties including, but not limited to,
general economic conditions, risks associated with operating in international
markets, the results of litigation, the timing and effects of any improvements
in the regions and industry sectors in which the Company's customers operate,
construction of new facilities and other infrastructure improvements, ability
to manage and continue growth, competition and other factors detailed in the
Company's 2003 Form 10-K, proxy statement/prospectus and other filings with
the Securities and Exchange Commission. Should one or more of these risks or
uncertainties materialize (or the consequences of such a development worsen),
or should underlying assumptions prove incorrect, actual outcomes may vary
materially from those forecasted or expected. The Company disclaims any
intention or obligation to update publicly or revise such statements, whether
as a result of new information, future events or otherwise.
SOURCE EGL, Inc.
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Related links:
http://www.eaglegl.com
CONTACT:
Elijio Serrano, Chief Financial Officer,
+1-281-618-3665, or Mike Slaughter, Investor Relations,
+1-281-618-3428, both of EGL, Inc.
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