Last C$55.00 CAD
Change Today +0.125 / 0.23%
Volume 164.0
LGT/B On Other Exchanges
As of 4:00 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

logistec corp - class b (LGT/B) Snapshot

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01/9/14 - C$60.00
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logistec corp - class b (LGT/B) Details

Logistec Corporation provides cargo handling and other services to marine, industrial, and municipal customers in Canada and the United States. The company operates in two segments, Marine Services and Environmental Services. The Marine Services segment is engaged in stevedoring and terminal operations in 26 port terminals that specialize in handling various types of dry cargo, including bulk, break-bulk, and containers in eastern Canada and the United States East Coast. It also offers material loading and unloading, container stuffing and destuffing, ship dockage, rail and road transportation, storage, tailgating (truck loading and discharging), and marine agency services to industrial customers. In addition, this segment provides marine transportation services geared primarily to the Arctic coastal trade; marine agency services to foreign ship owners and operators serving the Canadian market; and coal transportation services through railway in Cape Breton, Canada. As of December 31, 2013, it operated four ice-classed vessels under the Canadian flag. The Environmental Services segment is involved in the trenchless structural rehabilitation of underground water mains; manufacture of woven-hose products; and management of PCBs, as well as provision of site remediation and risk assessment services. It serves industries, governments, and municipalities. In addition, the company offers passenger services, such as handling baggage and mooring passenger vessels. The company was formerly known as Quebec Terminals Ltd. and changed its name to Logistec Corporation in April 1969. Logistec Corporation was founded in 1952 and is headquartered in Montreal, Canada.

1,364 Employees
Last Reported Date: 03/21/14
Founded in 1952

logistec corp - class b (LGT/B) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$460.6K
Vice President of Finance and Assistant Secre...
Total Annual Compensation: C$266.0K
Executive Vice-President of Operations
Total Annual Compensation: C$323.1K
President of Sanexen Environmental Services I...
Total Annual Compensation: C$335.0K
Regional Vice-President
Total Annual Compensation: C$303.7K
Compensation as of Fiscal Year 2013.

logistec corp - class b (LGT/B) Key Developments

Logistec Corporation Announces Consolidated Financial Results for the Fourth Quarter and the Year Ended December 31, 2013

Logistec Corporation announced consolidated financial results for the fourth quarter and the year ended December 31, 2013. Consolidated revenue totalled CAD 298.3 million in 2013, an increase of CAD 47.4 million or 18.9% over 2012 revenue of CAD 250.860 million. The marine services segment posted revenue of CAD 181.6 million in 2013, representing a higher level of activity compared to the CAD 143.2 million reported for 2012. This significant growth was due to an overall increase in cargo volumes handled in all regions for all cargo types, whether bulk, break-bulk or containers. The environmental services segment delivered a strong performance in 2013, as revenue increased by CAD 10.0 million or 9.2% over 2012 to reach CAD 117.6 million. The growth was generated by a high overall level of activity, particularly in the fourth quarter of 2013. Revenue growth came primarily from increased activity in Niedner. In 2013, the company achieved a consolidated profit attributable to owners of the Company of CAD 27.5 million for total basic and diluted earnings per share of CAD 4.27, which corresponds to basic and diluted earnings per share of CAD 4.10 attributable to Class A Common shares and of CAD 4.50 attributable to Class B Subordinate Voting shares. This compares favourably to profit attributable to owners of the company of CAD 15.907 million or total basic and diluted earnings per share of CAD 2.45, of which CAD 2.35 was attributable to Class A Common Shares and CAD 2.59 was attributable to Class B Subordinate Voting Shares in 2012. Operating profit was CAD 40.941 million against CAD 24.348 million a year ago. Profit before income taxes was CAD 40.775 million against CAD 24.001 million a year ago. Net cash provided by operating activities was CAD 43.566 million against CAD 15.491 million a year ago. Acquisition of property, plant and equipment was CAD 15.736 million against CAD 12.950 million a year ago. Acquisition of intangible assets was CAD 135,000 against CAD 89,000 a year ago. During the fourth quarter of 2013, consolidated revenue totalled CAD 79.5 million, up by CAD 11.8 million over the same period of 2012. This increase can be explained by strong activity in the environmental services segment in the fourth quarter. The consolidated profit attributable to owners of the Company amounted to CAD 6.6 million, similar to the fourth quarter of 2012 level. Equipment and supplies expense for the fourth quarter of 2013 was slightly higher in proportion to revenue when compared to the fourth quarter of 2012. That is explained by Sanexen's higher level of activity in the fourth quarter of 2013, which has a higher equipment cost component compared to the marine services segment. The profit attributable to owners of the Company computes to total basic and diluted earnings per share of CAD 1.04, which corresponds to basic and diluted earnings per share of CAD 1.00 attributable to Class A Common Shares and of CAD 1.09 attributable to Class B Subordinate Voting Shares.

Logistec Corporation Declares Quarterly Dividends on Shares, Payable on April 11, 2014

The Board of Directors of Logistec Corporation announced that it has declared quarterly dividends of $0.105 per share on all outstanding class A common shares and $0.1155 per share on all outstanding class B subordinate voting shares. The dividends will be paid on April 11, 2014 to all Logistec Corporation shareholders of record at the close of business on March 28, 2014. This dividend is an eligible dividend for Canada Revenue Agency purposes.

Logistec Corp. Mulls Acquisitions

Logistec Corp. (TSX:LGT.B) seeks acquisitions that fit their strategy of expanding dry-cargo-handling business in North America.


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