HOUSTON, Aug. 10 /PRNewswire/ -- Eagle USA Airfreight, Inc. (Nasdaq: EUSA)
today announced that it will withdraw the registration statement related to a
proposed secondary offering by its chairman, James R. Crane, at his request.
The registration statement, filed with the Securities and Exchange
Commission on July 29, 1999, had covered 1.38 million of the 8.26 million
shares owned by James R. Crane. The Company would not have received any
proceeds from the offering. Mr. Crane will pay the out-of-pocket expenses of
the terminated offering.
Mr. Crane stated that "the Company's business model remains fundamentally
strong and we continue to ship at record levels. During July 1999, we
reported record revenues and earnings for our fiscal third quarter and
announced a three-for-two stock split."
Eagle USA Airfreight's dedication to providing superior flexibility and
fewer shipping restrictions on a price competitive basis has made it a leading
provider of airfreight forwarding and other transportation and logistics
services. The Company's network of 78 terminals in eight countries features
state-of-the-art information systems designed to maximize cargo management
efficiency and customer satisfaction. The Company's shares are traded on the
Nasdaq National Market under the symbol "EUSA."
For more information about EUSA:
Visit EUSA on the Internet at http://www.eagleusa.com
Contact EUSA Investor Relations via the Internet at mslaught@eagleusa.com
or by telephone at 281-618-3428, Michael Slaughter, Director of Investor
Relations.
SOURCE Eagle USA Airfreight, Inc.
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Related links:
http://www.eagleusa.com
CONTACT:
Douglas A. Seckel, Chief Financial Officer,
281-618-3420, or Michael D. Slaughter, Director SEC
Reporting-Investor Relations, 281-618-3428, both of Eagle USA
Airfreight, Inc.
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