HOUSTON, Sept. 8 /PRNewswire/ -- Eagle USA Airfreight, Inc.
(Nasdaq: EUSA), today announced that, based on quarter-to-date operating
results, the Company expects to report that diluted earnings per share results
for the fiscal 1998 fourth quarter ended September 30 will be in the
approximate range of $0.27 to $0.31. Earnings per share totaled $0.28 for the
fourth quarter of last year. Included in fiscal 1997 fourth quarter results
was approximately $0.02 per share due to the effect of the August 1997 UPS
strike. The current analysts' consensus earnings estimate for the fourth
quarter, according to First Call, is $0.34 per share.
Revenues for the fourth quarter ended September 30, 1998 are expected to
be in the approximate range of $118 million to $123 million as compared to
revenues of $91.4 million for the fourth quarter of fiscal 1997. The
Company's 1998 fourth quarter financial results will be reported on Thursday,
November 12. Management noted that results for the three weeks between now
and the end of the quarter could cause these estimates to be further affected,
either positively or negatively.
"Overall revenue growth performance remains solid. We continue to make
the investments necessary to build a platform to accommodate continued strong
top-line growth, including expanding international and domestic operations,
human resources and management information personnel to position Eagle USA for
continued growth in 1999 and beyond. Management is making every effort to
streamline processes and reduce expenses wherever possible," said James R.
Crane, Chairman, President and Chief Executive Officer. "These investments
will also ensure a continued high level of service which our existing customer
base has come to expect. Highlighting our dedication to superior customer
service, Logistics Magazine has named Eagle USA "Best of the Best" among
airfreight forwarders in its 1998 Quest for Quality survey."
Fiscal 1999 Outlook
Looking forward, Crane expects revenue for fiscal 1999 to be in the
approximate range of $530 million to $550 million and diluted earnings per
share growth for the year to be approximately 20%. "While we see increased
investments of the type mentioned above continuing in the short-term, we are
optimistic that we will ultimately leverage these investments over a strongly-
growing revenue base."
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. Its network of 68 terminals features state-of-the-art information
systems to maximize cargo management efficiency and customer satisfaction.
The Company's shares are traded on the Nasdaq National Market under the symbol
"EUSA."
The statements in this press release concerning Eagle USA's expected
fiscal fourth quarter 1998 results, strongly-growing revenue base, expected
fiscal 1999 results, and the effects of future operating expense movements,
leverage of investments, as well as any other statements which are not
historical facts, are forward looking statements. Management's estimates for
revenues and earnings for the fiscal 1998 fourth quarter and fiscal 1999 year
are subject to numerous risks and uncertainties that could cause actual
results to differ materially from these estimated results including, but not
limited to, further increases in the Company's personnel, selling, general and
administrative operating expenses, international expansion expenses, human
resources and management information personnel expenses, as well as loss of
revenues due to customer account loss or eroding general economic conditions,
competition, general economic conditions, ability to manage and continue
growth, risks of international operations, as well as other factors detailed
in Eagle's filings with the Securities and Exchange Commission. These
forward-looking statements do not reflect the potential impact of any
acquisitions, joint ventures or other structural changes in the Company's
business that may be completed after the date of this release. Actual results
could exceed or be below expected ranges.
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 Mike Slaughter, Director of Investor Relations,
281-618-3428, mslaught@eagleusa.com, both of Eagle USA
NOTE TO EDITORS: For more information about EUSA Via fax dial
1-800-PRO- INFO and enter the ticker symbol -- EUSA
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