SOURCE: Fittipaldi Logistics, Inc.

December 04, 2007 08:00 ET

Projected Revenue From New Customer Increased to $6 Million

BOCA RATON, FL--(Marketwire - December 4, 2007) - Fittipaldi Logistics, Inc. (OTCBB: FPLD) announced that Commodity Express Transportation, a wholly owned subsidiary, was increasing its annual revenue projection for its second largest customer, a corrugated box manufacturing plant in South Carolina, from $5.5 million to $6 million. The forecast change was the result of Commodity Express handling approximately 10% more loads than originally estimated since it became the dedicated transportation provider for this plant in October. Orin Neiman, CEO of Fittipaldi Carriers, the parent company of Commodity Express, noted, "We're delighted with this opportunity and expect to generate additional business from some of the manufacturers to whom we are delivering these loads."

About Fittipaldi Logistics

Fittipaldi Logistics, Inc. is a technology company specializing in providing pertinent, real-time information to the worldwide transportation and security industries. Our telematics solutions collect vehicle and container-based data and integrate it with information gathered from various disparate legacy systems across the supply chain. The data is then synthesized and reformatted into valuable, actionable information, and delivered to appropriate end-users across the logistics value chain through secure web-based applications. Specific offerings include: vehicle tracking, inventory/asset visibility, secure trucking, matching available freight with available trucks, and many others. In addition, through Fittipaldi Environmental Solutions, the company has adapted its technology to provide critical information enabling verification of fuel savings and reduction of harmful emissions as well as monitoring of driver performance that, when improved, can result in significant fuel savings. Fittipaldi Carriers a wholly owned subsidiary is a regional logistics company based in Columbia, SC with projected annual revenue of $30 million. For further information, go to

This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: we have a history of losses and an accumulated deficit, expect losses to continue for the foreseeable future and will need to raise additional working capital in order to implement our business model and sustain our operations; the loss of one or more of our major customers could materially and adversely effect our future revenue and business operations; as well as those factors discussed under "Risk Factors" in our Annual Report on form 10-KSB filed on October 13, 2006 and various disclosures in other reports filed from time to time with the United States Securities and Exchange Commission.

Contact Information

  • Contact Information:
    Richard Hersh
    (866) 998-7557 x 302