WARREN, Mich., April 6, 2016 /PRNewswire/ -- Universal
Truckload Services, Inc. (NASDAQ: UACL), announced today the
planned release of first quarter 2016 financial results on
Thursday, April 28, 2016, immediately
prior to the beginning of our annual shareholders' meeting at
10:00 a.m. EDT.
Based on currently available information, we expect to report
income from operations in the range of $13.0
million to $14.8 million, on total operating revenues
anticipated to range from $258.0 million to
$268.0 million. This compares to $15.1 million of operating income in the first
quarter of 2015 on revenues totaling $263.6
million. We anticipate earnings per diluted share in the
range of $0.24 to $0.27 for the first
quarter of 2016, compared to $0.27
per share in first quarter 2015.
Universal's financial performance reflects total operating
revenues generally in-line with expectations, primarily supported
by strength in our value-added services, excluding where we support
heavy truck. However, we expect our earnings to be negatively
impacted from a weak pricing environment in our transportation
segment and increased direct labor costs compared to plan in order
to support extended implementation and higher than anticipated
customer production schedules.
Universal also announced that David A.
Crittenden, Universal's Chief Financial Officer and
Treasurer, has resigned from the company to pursue other business
interests.
The Company appointed Jude Beres,
age 44, as its Chief Financial Officer effective March 31, 2016. Mr. Beres previously served as
the Company's Chief Administrative Officer since April 2015. Prior to joining Universal, Mr. Beres
worked for multiple affiliated companies in finance and accounting
and most recently served as Vice President of Finance and
Accounting for Central Transport. Mr. Beres has over 19 years of
experience in the less-than-truckload, truckload, intermodal and
logistics industries. He holds a Bachelor of Accountancy from
Walsh College.
"I would like to thank David for his contributions to Universal
and wish him the best in his future endeavors," stated Universal's
Chief Executive Officer, Jeff
Rogers. "I look forward to Jude's leadership as our new
Chief Financial Officer. Universal will take full advantage of his
substantial financial and operational expertise as we continue our
work to improve Universal's financial results."
Quarterly Earnings Conference Call Dial-in Details
We invite investors and analysts to our quarterly earnings
conference call:
Time:
|
10:00 AM
EDT
|
Date:
|
Friday, April 29,
2016
|
Call Toll
Free:
|
(866)
622-0924
|
International
Dial-in:
|
+1 (660)
422-4956
|
Conference
ID:
|
83911871
|
During the call, Jeff Rogers,
CEO, Jude Beres, CFO, and
Steven Fitzpatrick, Vice President
of Finance and Investor Relations, will discuss Universal's first
quarter 2016 financial performance, the demand outlook in our key
markets and other trends impacting our business.
A replay of the conference call will be available beginning two
hours after the call through May 26,
2016, by calling (855) 859-2056 (toll free) or +1 (404)
537-3406 (toll) and using conference ID 83911871. The call will
also be available on investors.goutsi.com.
About Universal
Universal Truckload Services, Inc. is a leading asset-light
provider of customized transportation and logistics solutions
throughout the United States, and
in Mexico, Canada and Colombia. We provide our customers with supply
chain solutions that can be scaled to meet their changing demands
and volumes. We offer our customers a broad array of services
across their entire supply chain, including transportation,
intermodal, and value-added services.
Forward Looking Statements
Some of the statements contained in this press release might
be considered forward-looking statements. These statements identify
prospective information. Forward-looking statements are based on
information available at the time and/or management's good faith
belief with respect to future events, and are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed in the statements. These
forward-looking statements are subject to a number of factors that
may cause actual results to differ materially from the expectations
described. Additional information about the factors that may
adversely affect these forward-looking statements is contained in
the Company's reports and filings with the Securities and Exchange
Commission. The Company assumes no obligation to update
forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
information except to the extent required by applicable securities
laws.
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SOURCE Universal Truckload Services, Inc.