Mercator Transport announces results for the second quarter of 2009-2010

LAVAL, QC, Dec. 21 /CNW Telbec/ - Mercator Transport Group Corporation ("Mercator Transport") (TSX VENTURE: GMT), announces its financial results for the three-month period ended October 31, 2009 .

    
    Financial Highlights
    Selected Consolidated Information

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    (in thousands of
     Canadian dollars,
     amounts per share                    Q2              Q2       2009-2010
     excepted)                     2009-2010       2008-2009  (6-month total)
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    Revenue                            6,754           6,196          11,129
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    EBITDA(1)                            170             241             190
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    Net Profit                            82             122              62
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    Net Profit basic per share         0.003           0.004           0.003
    -------------------------------------------------------------------------
    

Mercator Transport sales reached $6,754,000 in the second quarter of 2009-2010, a $558,000 or 9.0% increase compared to $6,196,000 for the same period last year. Mercator Transport reported net profits of $82,000 ( $0.003 per share) for the second quarter of 2009-2010, compared to net profits of $122,000 ( $0.004 per share) for the same period a year earlier.

Mercator Transport generated EBITDA(1) of $170,000 for the second quarter of 2009-2010, compared to $241,000 for the second quarter of 2008-2009. This decrease in EBITDA(1) is mainly accounted for by a hike in selling and administrative expenses incurred in the last quarter compared to the same period a year ago, despite a $1,401,000 rise in gross profit reported for the quarter, compared to $942,000 for the same period last year.

The second quarter of 2009-2010 was marked by the integration of the activities of the French corporation S.A.S. Trans Orient Services ("Trans Orient"), specialized in international transport brokerage, with which Mercator Transport has concluded a business leasing-management agreement. Let us remind the reader that under the agreement, Mercator Transport benefits from revenues and assumes expenses and obligations of the leased business.

"The geographic expansion undertaken as part of our development plan allowed us to offset the slowdown in sales observed in the first quarter of 2009-2010 an outgrowth of the economic downturn our clients have had to compose with," declared Mr. Jean-Pierre Apélian, President and CEO.

For further information, please refer to Mercator Transport's management discussion and analysis and quarterly unaudited financial statements, available on SEDAR's website at www.sedar.com.

    
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    (1) Non-GAAP measure, as defined in Mercator Transport's MD&A.
    

About Mercator Transport

Mercator Transport specializes in transport brokerage, international logistics and distribution. With offices in Montreal ( Canada ), Las Vegas (USA), Lyon (France ) and Tema ( Ghana ), Mercator Transport offers value-added services in global supply chain management, and designs tailor-made solutions. Its customer relationships and its collaborators' commitment are what differentiates Mercator Transport in its ability to implement customers' requirements.

Neither TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

%SEDAR: 00020866EF

For further information: Mr. Patrick Bazinet, Director and Interim CFO, Investor relations, [phone], [email protected]