SOURCE: Cargo Connection Logistics Holding, Inc.

November 20, 2006 16:16 ET

Cargo Connection Logistics Holding, Inc. Reports Record Third Quarter Results

Quarterly Revenues Increase by More Than 35 Percent -- Company On Track for Record Year

INWOOD, NY -- (MARKET WIRE) -- November 20, 2006 -- Cargo Connection Logistics Holding, Inc. (OTCBB: CRGO) (BERLIN: CD6) (FRANKFURT: CD6) (FRANKFURT: 217026) today reported recorded revenues for the third quarter ended September 30, 2006. Revenues for the quarter were $5.270 million compared to revenues of $3.830 million from the same period last year, a 37.5 percent increase.

Revenues for the nine months ended September 30, 2006 were $12.975 million up 22.4 percent from the same period of 2005.

"As the result of the continued growth of our domestic business aided by the addition of some of the best senior management in our sector, we continue to build top line revenue," said Scott Goodman, Cargo Connection Logistics Holding, Inc. CFO. "While this represents the core of our business we are, as previously stated, aggressively pursuing international opportunities specifically in the Pacific Rim. In fact, Company Chairman and CEO, Jesse Dobrinsky, has been in China for the past week and a half working diligently to bring to fruition developing relationships."

Goodman said that if the current trends continue, the Company is on track for a record year.

Complete financial results can be found in the Company's most recent 10-QSB filing.

About Cargo Connection Logistics Holding, Inc.

The Company consists of Cargo Connection Logistics Corp. and Cargo Connection Logistics - International, Inc., which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, GA; Charlotte, NC; Chicago, IL; Columbus, OH; Miami, FL; New York, NY; Pittsburgh, PA; and San Jose, CA. Cargo Connection Logistics is a leader in world trade logistics. Headquartered adjacent to JFK International Airport, the company is a transportation logistics provider for shipments importing into and exporting out of the United States, with service areas throughout the United States and North America. The companies currently provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. They also have container freight station operations specifically designed to handle internationally arriving freight for the major retail suppliers through its CFS facilities in Florida, Georgia, Illinois, New York and Ohio. Cargo Connection Logistics' website is www.cargocon.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including, without limitation:

--  the Company's ability to increase its revenues, including by obtaining
    contacts with foreign shippers;
--  the Company's financial condition, including its ability to continue
    as a going concern;
--  the effect of the Company being in default on its indebtedness;
--  the Company's ability to raise additional capital;
--  the Company's reliance on key personnel and independent agents; and
--  the Company's vulnerability to economic and industry conditions

Contact Information

  • Contact:

    Peter Nasca
    Peter Nasca Associates, Inc.
    954-473-0677 Ft. Lauderdale
    312-421-0723 Chicago