SOURCE: Integrated Freight Corporation

Integrated Freight Corporation

August 19, 2015 12:37 ET

IFCR Details the Results of Its Turnaround

Offers Insights Into Its Finance and Operations Improvements

DANBURY, CT--(Marketwired - August 19, 2015) - Integrated Freight Corporation (OTC PINK: IFCR), a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States, today issued statements regarding its financial and operating improvements.

David N. Fuselier, CEO of Integrated Freight, stated, "By any objective measure, the new management team's restructuring and turnaround of IFCR starting early in its 2013 fiscal year is remarkable. We took on a company whose two largest and most recent acquisitions had both failed and ceased all operations. The Company had substantial debt, huge losses, no cash, and several contentious legal issues. In short, with no realistic means of recapitalizing that broken business, our team had to manage its way through a very difficult transition to our current position of profitability."

Integrated Freight By the Numbers:

FYE Mar 31 2012 2015
total debt  19,651,529
 9,868,128
revenue  20,714,998
 18,970,809
net income (cont. opns)  (5,386,603)
 284,177
ebitda (cont. opns)  (683,092)
 1,774,544
net income (disc. opns)  (14,337,256)  284,177
ebitda (disc. opns) (9,633,745)
 1,774,544

Beginning in late FY2012 management began the process of settling and restructuring debt resulting in nearly 50% reduction. Continuing operations following closure of the two subsidiaries resulted in a small net revenue reduction. However, beginning in FYE 2013 IFCR posted its first ever net income and positive cash flow from operations. Through its March 31, 2015 fiscal year end, IFCR remained profitable and exhibited solid EBITDA. Even with these metrics, Integrated's enterprise value exceeds $11,000,000 and currently trades at a P/E ratio of less than 1X compared to an industry average of 17X earnings.

"It's tough being a small public company," said Hank Hoffman, IFCR president. "However, as a truckload motor carrier operating in key niche markets, we have critical operating advantages that will enable us to be disproportionately profitable relative to the general truckload industry. Our strategic plan calls for us to grow organically as well as through the acquisition of other niche carriers. As we do so, our PE ratio should increase and become closer to the industry average."

Management is aware of Integrated’s yield sign and expects to file its 10-K and current 10-Q very soon. The delay is due primarily to the Company’s change of auditors as reported in a corresponding 8-K dated July 14, 2015.

About Integrated Freight Corporation

Integrated Freight Corporation (OTC PINK: IFCR) provides long-haul, regional and local motor freight service. For its customers, the Company provides dry van and hazardous waste truckload services in well-established traffic lanes in the Upper Midwest, Texas, California and along the Atlantic seaboard. For its shareholders, Integrated Freight acquires operating motor freight companies that build, maintain and deliver shareholder value. The Company's corporate mission is to be the best niche motor carrier in North America.

This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.

We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.

Contact Information

  • Contact:

    Hank Hoffman
    President and COO
    Integrated Freight Corporation
    417-434-1782

    David Fuselier
    CEO
    Integrated Freight Corporation
    203-628-7142