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As of 8:10 PM 04/14/14 All times are local (Market data is delayed by at least 15 minutes).

janel world trade ltd (JLWT) Key Developments

Janel World Trade Ltd. Extends Term of its Subsidiary's $1,731,335 Revolving Line of Credit Agreement with Community National Bank

On January 31, 2014, Janel World Trade Ltd. extended the term of its Janel Group of New York subsidiary's $1,731,335 revolving line of credit agreement with Community National Bank (CNB) from January 31, 2014 to June 30, 2014. As part of the extension, CNB (i) reduced the Credit Facility to $1,275,335 (the current amount of borrowings outstanding), and (ii) will not allow any additional borrowings during the extension period. All other terms of the CNB credit facility remained unchanged.

Janel World Trade Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended September 30, 2013

Janel World Trade Ltd. reported unaudited consolidated earnings results for the fourth quarter and year ended September 30, 2013. For the quarter, the company reported revenue of $12,841,886, income from continuing operations of $63,267, income from continuing operations before income taxes of $28,612, net income from continuing operations of $22,612 and net loss available to common shareholders of $1,451,006 or $0.06 per diluted share against revenue of $14,447,610, income from continuing operations of $63,046, income from continuing operations before income taxes of $35,102, net loss from continuing operations of $1,750,817 and net loss available to common shareholders of $1,822,611 or $0.08 per diluted share for the same period a year ago. For the year, the company reported revenue of $44,744,518, loss from continuing operations of $188,369, loss from continuing operations before income taxes of $314,106, net loss from continuing operations of $331,106 or $0.01 per diluted share and net loss available to common shareholders of $2,173,234 or $0.09 per diluted share against revenue of $49,837,461, income from continuing operations of $30,425, loss from continuing operations before income taxes of $65,029, net loss from continuing operations of $1,286,333 or $0.06 per diluted share and net loss available to common shareholders of $2,693,716 or $0.12 per diluted share for the same period a year ago.

Janel World Trade Ltd. announced delayed annual 10-K filing

On 12/30/2013, Janel World Trade Ltd. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Janel World Trade Ltd. Elects Vincent Iacopella to Fill the Vacancy on the Board

On December 5, 2013, the Board of Directors of Janel World Trade Ltd. elected Vincent Iacopella to fill the vacancy on the Board resulting from the resignation of James N. Jannello. Mr. Iacopella will serve until his successor is duly elected and qualified. Mr. Iacopella was a member of the Board of Directors of the Company from 2004 until he resigned in April of this year to focus his full attention on his operational responsibilities for the company as Managing Director of The Janel Group of Los Angeles, and has now agreed to return to the Board to fill the vacancy.

Janel World Trade Ltd. Announces the Retirement of James N. Jannello as Executive Vice President and Member of the Board of Directors

On November 15, 2013, James N. Jannello, Executive Vice President and a member of the Board of Directors of Janel World Trade Ltd., notified the company that he is retiring to spend more time with family and pursue personal interests and, as a result of retirement, Mr. Jannello resigned from the Board and from all of his positions as an officer of the Company and all of its subsidiaries.

 

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