Brick Mountain Logistics Announces Positive Performance (Tue, Sep 09 2008 8:00am ET)
MIAMI, Sept 09, 2008 Brick Mountain Logistics, a wholly-owned subsidiary of Pacer Health Corporation (OTCBB:PHLH), today reported positive progress following the May acquisition of the assets of Cargo Connections Logistics Corporation.
The company also announced that it has taken steps towards profitability through companywide cost reductions of more than $1.2 million on an annualized basis. The company will continue to drive operational efficiencies within all segments to align its revenue to meet its bottom-line goals.
To date the management team of Brick Mountain has increased cash flow through enhanced accounts receivable follow-up practices; reduced expenses through expense management; and increased revenue through development of a centralized sales department.
"We are pleased with the direction in which Brick Mountain Logistics is going and how far we've come in the just a few short months," said John Chi, Pacer's chief financial officer. "This demonstrates a measurable improvement in profitability and marks a strong growth cycle."
Brick Mountain Logistics expects to continue to narrow any losses by reducing operating and overhead expenses which include incorporating green initiatives into its fleet and warehousing operations to sustain the environment and revenue.
About Pacer Health Corporation
Pacer Health Corporation is a company that focuses on financially distressed businesses in all market segments including and beyond the healthcare arena. Pacer is an owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities serving non-urban areas throughout the Southeast as well as a distribution and logistics company with locations throughout the United States. Please visit http://www.pacerhealth.com for more information.
"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. They are only predictions and may differ materially from actual future results or events. Pacer Health disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise. Important risk factors – including, but not limited to risks associated with changes in general economic and business conditions (including in the IT and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of market acceptance of our services, and changes in our business strategies – could cause actual results to differ from those contained in forward-looking statements.
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