Key Developments: Quality Distribution Inc (QLTY.O)

QLTY.O on Consolidated Issue listed on NASDAQ Global Market

12.80USD
24 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Quality Distribution Inc gives Q1, FY 2014 EPS guidance below analysts' estimates
Tuesday, 25 Feb 2014 05:28pm EST 

Quality Distribution Inc:Expects Q1 2014 earnings per diluted share to be in the range of $0.09 to $0.13.Expects FY 2014 earnings per diluted share to be in the range of $0.70 to $0.80.Q1 2014 EPS of $0.19 - Thomson Reuters I/B/E/S.FY 2014 EPS of $0.98 - Thomson Reuters I/B/E/S.  Full Article

Quality Distribution Inc.'s Quality Carriers expands into denver market
Friday, 21 Feb 2014 11:30am EST 

Quality Distribution Inc:Says its wholly-owned subsidiary, Quality Carriers, Inc. has expanded into the Denver, Colorado market.  Full Article

Quality Distribution Inc gives Q4 2013 guidance - Conference Call
Wednesday, 6 Nov 2013 10:00am EST 

Quality Distribution Inc:Says for Q4 2013 normal seasonal high single-digit revenue decline to result in reduced earnings on a sequential basis, but expect moderate improvement over adjusted EPS from of Q4 2012.Reported EPS of $0.11 in Q4 2012 and revenue of $235.67 mln in Q3 2013.Q4 2013 EPS of $0.19 and revenue of $227.92 million - Thomson Reuters I/B/E/S Estimates.  Full Article

Quality Distribution Inc Announces Pricing of Public Secondary Offering of Common Stock
Thursday, 8 Aug 2013 05:18pm EDT 

Quality Distribution Inc announced that the previously announced underwritten secondary offering of 4,269,741 shares of its common stock by certain stockholders of Quality (the "Selling Stockholders), including funds affiliated with Apollo Global Management, LLC, priced at $8.60 per share. The Selling Stockholders have granted to the underwriters of the secondary offering an option to purchase up to 426,974 shares of additional common stock. Quality will not receive any proceeds from the sale of the shares by the Selling Stockholders in this offering. The offering is expected to be consummated on August 14, 2013, subject to certain customary conditions. The offering is being made pursuant to Quality's registration statement on Form S-3 filed with the Securities and Exchange Commission. BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint bookrunning managers for the offering. The co-managers for the offering are SunTrust Robinson Humphrey, Inc., BB&T Capital Markets, RBC Capital Markets, LLC and Avondale Partners, LLC.  Full Article

Quality Distribution Inc Announces Launch Of Public Secondary Offering Of Common Stock
Tuesday, 6 Aug 2013 04:47pm EDT 

Quality Distribution Inc announced the launch of a public secondary offering of its common stock. Certain stockholders of Quality (the Selling Stockholders), including funds affiliated with Apollo Global Management, LLC, are offering for sale to the public 4,269,741 shares of Quality's common stock owned by them. The Selling Stockholders will grant to the underwriters of the secondary offering an option to purchase up to 426,974 shares of additional common stock. Quality will not receive any proceeds from the sale of the shares by the Selling Stockholders in this offering. The offering will be made under Quality's registration statement on Form S-3 filed with the Securities and Exchange Commission. BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint bookrunning managers for the offering. The co-managers for the offering are SunTrust Robinson Humphrey, Inc., BB&T Capital Markets, RBC Capital Markets, LLC and Avondale Partners, LLC.  Full Article

Quality Distribution Inc Announces Management Change
Thursday, 4 Apr 2013 05:09pm EDT 

Quality Distribution Inc announced that Stephen R. Attwood, President and Chief Operating Officer of Quality Distribution, will retire effective April 30 th , 2013. Thomas N. Flessor will succeed Attwood in managing the Company's energy logistics business as President of QC Energy Resources (QCER), a wholly-owned subsidiary of Quality Distribution.  Full Article

Quality Distribution Inc Issues Q4 2012 Revenue And EBITDA Guidance Above Analysts' Estimates; EBIT Guidance Below Analysts' Estimates
Tuesday, 12 Feb 2013 04:05pm EST 

Quality Distribution Inc. announced for the fourth quarter of 2012, it expects its total revenue to be approximately $215.0 million, operating income to be within the range of $9.9-$10.6 million, adjusted EBITDA to be within the range of $20.0 million to $20.7 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $200.9 million, EBIT of $11.9 million and EBITDA of $18.8 million for fourth quarter of 2012.  Full Article

Quality Distribution Inc Announces Share Repurchase Authorization for Up to $15 Million
Tuesday, 20 Nov 2012 04:30pm EST 

Quality Distribution Inc announced that Board of Directors has authorized the repurchase of up to $15 million of Quality's common stock. Under the program, repurchases may be made in the open market, or through privately negotiated transactions, block transactions, or other mechanisms, as determined by the Company's management and in accordance with prevailing market conditions and the requirements of the Securities and Exchange Commission. Quality expects to fund share repurchases from future cash flows from operations or borrowings under its asset-based revolving credit facility. The share repurchase program does not have an expiration date, the Company is not obligated to acquire a particular number of shares, and the program may be discontinued at any time at the Company's discretion.  Full Article

Quality Distribution Inc.'s Subsidiaries Announces Acquisition Of Dunn's Tank Service & Nassau Disposal
Monday, 6 Aug 2012 04:30pm EDT 

Quality Distribution Inc. announced that certain of its wholly-owned subsidiaries have purchased the operating assets of Dunn's Tank Service, Inc. (Dunn's) and the operating assets and rights of Nassau Disposal, Inc. (Nassau), for an aggregate cash purchase price of $34.3 million. An additional $3.6 million in cash consideration may be payable if certain future operating and financial performance criteria are satisfied.  Full Article

Quality Distribution Inc. Completes Acquisition Of Wylie Bice Trucking And RM Resources, LLC
Tuesday, 12 Jun 2012 09:00am EDT 

Quality Distribution Inc. announced that it has completed its previously announced acquisition of the operating assets and rights of RM Resources, LLC (RM). Together with the previously announced closing of the acquisition of certain operating assets of Wylie Bice Trucking, LLC (Bice) on June 1, 2012, the aggregate purchase price for the combined businesses is approximately $81.5 million plus potential additional consideration of $19.0 million if certain future operating and financial performance criteria are satisfied. The increased purchase price was primarily due to new revenue producing assets purchased after the initial valuation date. Quality utilized borrowings under its asset-based credit facility to finance the cash portion of these transactions. The transactions were structured as asset acquisitions, with aggregate consideration paid to the sellers as follows: approximately $52.2 million in cash; a total of $21.3 million in five year subordinated seller notes bearing interest at a 5% fixed rate; and $8.0 million in unregistered restricted shares of Quality common stock. Up to an additional $19.0 million may be payable in cash one year after the closing date, contingent upon the collective businesses meeting certain future operating and financial performance criteria.  Full Article

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