Janel World Trade Ltd. announced today that the Company has seen substantial growth for the fiscal year ending September 30, 2010. Revenues will be at least $87 million for the fiscal year which represents a growth of 22% as compared to the previous year. The company also noted that the recent acquisition of Ferrara International Logistics, Inc. of New Jersey will add roughly $7 million in annualized revenue.
James Jannell, Executive Vice President and CEO of Janel, commented, “We are very pleased as we close our fiscal 2010 that our top-line revenue results of at least $87 million demonstrate we have had a great turnaround from the $71,582,806 reported for fiscal 2009. We have focused our energies on growing the revenue and profitability of our core business units this past year.” Mr. Jannello further stated, “We continue to focus on the strong business principles, such as driving shareholder value and exceeding our customers’ expectations, which are the foundation of our company and differentiating the Janel brand in the global market. We have always strived to meet the evolving needs of our customers and we continue to seek to add value to the services we provide our expanding customer base. The demand for global logistics services continues to grow as evidenced by our last two quarters of record-setting revenue numbers.”
Jannello concluded, “Our European and Asian trade lanes remain very strong. And with the Janel brand now expanding throughout Central America, we continue to see our shipping volumes growing with the continued evolution of the Central America Free Trade Agreement (CAFTA). In addition to our internal growth, we recently announced the acquisition of the assets of Ferrara International Logistics which will add an estimated $7 million in additional revenue which will generate approximately a 36% gross profit margin for fiscal year 2011. This recent strategic acquisition, combined with our revenue growth we have experienced in 2010 and growing global trade lanes, makes the outlook for our core business in 2011 very solid.”
Janel has seen incredibly strong growth throughout the year. In August, the full-service global provider of integrated transportation logistics and environmental services announced significant revenues for the quarter ending June 30, 2010. For that quarter, Janel reported a record third quarter revenue of $21,004,703, an increase of $5,479,934 or 35.3%, compared to same quarter fiscal 2009. Complementing the record revenues, the data reported showed that the third quarter 2010 produced net income of $166,63, an improvement of $276,231, compared to a third quarter 2009 which produced a net loss of $109,597.
More information on Janel World Trade Ltd, its business strategies and the investment opportunity presented by JLWT can be found on the Company’s website at www.janelgroup.net.
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