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Cargojet Announces Strong Third Quarter Results
Cargojet Announces Strong Third Quarter Results Canada NewsWire MISSISSAUGA, ON,...
About this update from Cargojet Inc.
[{"type":"text","content":"\n\n\n\nCargojet Announces Strong Third Quarter Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Nov. 13, 2017\n\n\n\nMISSISSAUGA, ON, Nov. 13, 2017 /CNW/ - Cargojet Inc. (\"Cargojet\" or the \"Corporation\") (TSX: CJT, CJT.A) announced today financial results for the quarter ended September 30, 2017.\n\nFor the Quarter Ended September 30, 2017:\n\n\nTotal Revenues were $89.4 million, an increase of $8.7 million or 10.8% versus the previous year\nGross Margin was $24.7 million, an increase of $3.9 million or 18.8% versus the previous year\nAdjusted EBITDA was $25.4 million, an increase of $0.1 million or 0.4% versus the previous year\nAdjusted EBITDAR was $28.2 million, a decrease of $1.2 million or 4.1% versus the previous year\n\n\"We are very pleased with the financial and operating results produced during the Quarter,\" said Ajay Virmani, President and Chief Executive Officer.  \"The significant increase in revenues and gross margin over the previous year was the result of the successful execution of our strategy to improve the utilization of our aircraft assets and to maximize margins.  We continue to prudently manage our operating costs and look for further route network optimization opportunities,\" added Mr. Virmani. \n\nCargojet is Canada's leading provider of time sensitive overnight air cargo services and carries approximately 1,300,000 pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of 18 all-cargo aircraft. The Corporation operates over 12,000 flight legs yearly and has a team of over 800 dedicated professionals. For more information, please visit: www.cargojet.com.\n\nNon-GAAP Measures \n\n\"Adjusted EBITDA\" and \"Adjusted EBITDAR\" are non-GAAP measures used by the Corporation to provide additional information on its financial and operating performance. Adjusted EBITDA and Adjusted EBITDAR are not recognized measures for financial statement presentation under Canadian GAAP and it does not have standardized meanings and may no...