SOURCE: Unisource Corporate Corp

Unisource Corporate Corp

November 06, 2014 17:31 ET

Unisource Discusses Third Quarter Earnings

MIAMI, FL--(Marketwired - Nov 6, 2014) - Unisource Corporate Corporation (OTCBB: USRC) has announced and filed its earnings report for the third quarter of 2013. On an Earnings per Share basis, for the nine month period ending September 30, 2014, Unisource produced a GAAP net profit/loss per share of $0.00. This compared to a GAAP net loss per share of ($0.02) per share for the same nine month period in 2013.

This represents a positive year-over-year earnings improvement of $0.02 per share, which is mostly represented by the recent acquisition of Top Flight Concepts. The Company's Q3 report reflects the first full quarter of revenue recognition of the Top Flight division. During the quarterly period ending September 30, 2014, the Company incurred numerous one-time expenses relating to the Top Flight transaction, as well as other one-time settlement issues.

The Company is extremely pleased to see the Gross Income from the Top Flight division for the quarter exceed $644,600.00 as calculated under GAAP, with a Gross Profit of $156,916.00. Net income, without exclusion of any expenses (one-time or otherwise) was over $33,000.00.

"We feel that the performance of our Top Flight Concepts division will continue to dramatically improve as we further integrate operations, saving additional significant costs while increasing margins," stated Jordan Serlin, Chief Executive Officer of Unisource. "Equally important, we must note that as the sales performance of the division continues to improve through our rapidly growing sales pipeline, we will be able to scale current products to service new customers without significant additional CAPEX, further enhancing our margins."

Beyond earnings, Unisource also has announced the Company's intention to undergo a complete financial audit, with an anticipated start in January 2015. Upon successful completion of the audit, the Company intends to become a fully-reporting company based on regulatory approvals.

For further information on Top Flight Concepts, please visit www.tfconcepts.com or www.shiptfc.com or call +1 (855) SHIP-TFC. For additional information on Unisource please visit www.unisourcecorp.com or call +1 (561) 228-5181.

About Unisource
Unisource, (OTCBB: USRC), a global transportation and logistics management company, aggregates third-party logistics (3PL) service companies as well as cloud-based logistic applications to improve efficiencies and deliver significant cost savings to users worldwide. In November 2012, USRC acquired Visionship, a SaaS-based proactive transportation management system, which delivers predictive, in-transit transportation data to users driving significant cost savings to manufacturers, distributors and carriers. In June 2014, USRC acquired Top Flight Concepts, a market leader in development of innovative customized freight management solutions, as well as TFConnect®, a complete shipping management system designed to directly connect shippers, brokers and carriers to facilitate all facets of shipping and freight data management. Serving all transportation modes, USRC provides core logistics services to users for ALL modes of shipping. With ability to ship anything, USRC currently operates in multiple industries of manufacturing including: automotive, printing, telecommunications, electronics, industrial products, food grade products, packaging, household and consumer goods among others. www.unisourcecorp.com  

Forward-Looking Statements Disclosure
This release contains forward-looking statements that reflect Unisource Corporate Corporation's plans and expectations. In this press release and related comments by Company management, words like "expect", "anticipate", "estimate", "forecast", "objective", "plan", "goal", "position", "equate", and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.

Contact Information

  • Contacts:
    Unisource
    Investor Relations
    (561) 228-5181