myFreightWorld Technologies' Managed Revenue Is Currently on a Run Rate of $60 Million Annually Going Into 2011
29 Diciembre 2010 - 7:30AM
Marketwired
myFreightWorld Technologies Inc. (PINKSHEETS: MYFT)
(www.myfreightworld.com) today announced that its managed revenue
run rate going into 2011 is approximately $60 Million. Managed
revenues are calculated by the amount of customer shipments
multiplied by the number of loads processed using myFreightWorld's
software. Based on processing 1,000 loads per day at an average of
$245 per load with 255 working days in a year, myFreightWorld's
managed revenue run rate is in excess of $60 Million.
CEO of myFreightWorld Technologies Inc., J. Michael Head, said,
"While managed revenues do not show up on the top-line of our
income statement, they are one of the best measures of growth in
our business. In 2010, myFreightWorld continued to expand our
shipment volume and broaden our customer base. Our growth in
managed revenues is attributed to an increase in our non-contracted
business, which also enhances our profitability compared to
contracted revenue." Contractual revenue is defined by collecting
revenues from the end user (customer) and then paying carriers
under contract. Non-contractual revenue is defined by providing
software and services to MYFT customers for a fee and without a
contract, whereby the customer pays the carrier.
Mr. Head continued, "myFreightWorld now provides transportation
solutions to over 100 private labels and serves 8 of the top 50
largest and most well-respected 3PLs (third-party logistics
managers) in North America. The 3PL market has tremendous potential
for future growth, both organically and through acquisitions of
smaller 3PLs. We plan to exploit these new opportunities by
leveraging our Customer Relationship Management Web-based platform
to generate even higher managed revenues in 2011."
About myFreightWorld
myFreightWorld Technologies Inc. is a business services firm
that specializes in providing technology, transportation and supply
chain management services to third party logistics managers (3PLs)
and transportation intermediaries (TIs), primarily in the United
States. Leveraging its proprietary Web-based software platform, the
Company provides its 3PL and Motor Carrier customers with a
customer relationship management (CRM) Information Pipeline that
provides complete visibility to shippers, consignees and other
interested parties of shipments during the entire Shipment Life
Cycle. For more information, see www.myfreightworld.com.
Notice on Forward-Looking Statements
myFreightWorld's vision is to realize shareholder value and
wealth through monetization of its projects and potential
discoveries through partnerships with significant players with
ready capital and production expertise. The matters set forth in
this press release may contain forward-looking statements regarding
myFreightWorld and its business within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements speak only as of the date on
which they are made and myFreightWorld undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
Statements are subject to risks and uncertainties that may cause
actual results to differ materially. These risks are detailed from
time to time in the company's periodic reports filed with the OTC
Pinksheets including the company's Annual Report, Quarterly Reports
and other periodic filings.
Contact: J. Michael Head CEO myFreightWorld Technologies Inc.
Tel: 877-549-9438 Email Contact
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