SmarTrend(R) News Watch: Velocity Express Reports FY 2008 Results

Mon. September 29, 2008; Posted: 09:13 AM

Sep 29, 2008 (SmarTrend(R) News Watch via COMTEX) -- VEXPD | Quote | Chart | News | PowerRating -- Late Friday, Velocity Express Corporation (NASDAQ: VEXP | Quote | Chart | News | PowerRating) announced their fiscal year 2008 financial earnings. Velocity Express is the leading provider of same day transport and delivery solutions in the United States. For the year ended June 28, 2008 Velocity Express earned $86.0 million in gross profit, compared to $98.0 million in gross profit in their last fiscal year. Revenue for the year was $340.9 million, down from the $410.1 million reported last year. During the fourth quarter ended June 28, 2008, the company experienced a goodwill impairment of $52.5 million. Shares of Velocity Express were down 7.69 percent to 24 cents at the end of the day Friday, September 26.

newsdesk@comtex.com

Want to monetize your website? Visit http://www.comtex.com/sales and contact a Sales Representative to discover how you can get customized news relevant to your site.

For full details for VEXP click here.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.