L4 Logistics | Transport Shipping and Logistics News

 Revenues for the three months ended June 30, 2006 were approximately $4,057,000 compared with approximately $3,300,000 for the same three month period last year. This represents a 22 percent increase in the three month period compared to last year. The Company stated that its revenues, approximately $1,700,000 in June 2006, set a one month record, as did July's revenues, which are not reported in the current filing. Revenues from operations derived from the Company's subsidiary, Cargo Connection Logistics Corp., increased 33 percent for the six months ended June 30, 2006 compared to the previous year. The subsidiary's revenues increased 40 percent for the three month period compared to the previous year's same three month period. "The period from June 2005 to June 2006 represents our first full year as a public company," said Scott Goodman, Chief Financial Officer of Cargo Connection Logistics Holding, Inc. "Clearly we have encountered significant legal and financial compliance issues associated with being a public entity. However, management continues to work diligently to remain compliant with the SEC regulations and to continue to increase revenues, particularly in revenue streams that have potentially higher profit margins, which should help to reduce the burden of these associated costs." "While we are very pleased that we continue to increase revenues from our trucking operations, we are also optimistic about the potential for our newest subsidiary, Cargo Connection Logistics - International," said Jesse Dobrinsky, President of Cargo Connection Logistics Holding, Inc. "We've already begun shipping goods from Vietnam and more recently have begun to take the first step in a very bold trade initiative with Costa Rica. Our next target is China, where we will be taking a very strategic approach to the entire Pacific Rim. We recognize that there is huge potential in that part of the world, but we want to be assured that we derive the greatest benefit from the relationships we have begun to develop." "As stated, June and July were record months for the Company and if the economy continues on its current track, we are on track to have a record year," added Dobrinsky. The complete six month and three month financial report for the period ending June 30, 2006, can be found in the Company's most recent 10-QSB filing with the SEC. Source: Press Release