quality distribution inc (QLTY) Snapshot

Quality Distribution Inc. approved the election of Annette M. Sandberg as director hold office until the next annual meeting of its shareholders or until their successors have been elected and qualified.

Quality Distribution Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company's total operating revenues were $229,422,000 against $191,915,000 a year ago. Operating income was $15,444,000 against $13,838,000 a year ago. Income before income taxes was $14,904,000 against $7,064,000 a year ago. Net income was $9,144,000 or $0.34 diluted per share against $6,700,000 or $0.26 diluted per share a year ago. Adjusted income before income taxes was $6,370,000 against $7,473,000 a year ago. Adjusted net income was $3,911,000 or $0.14 diluted per share against $4,559,000 or $0.18 diluted per share a year ago. EBITDA was $29,109,000 against $17,865,000 a year ago. Adjusted EBITDA was $21,433,000 against $18,947,000 a year ago. Cash flow from operations was $8.6 million in first quarter, an increase of $6.9 million over the prior year quarter. The company's expects a more stable effective tax rate in 2013 and going forward. The company expects net CapEx spending range for the year 2013 of $10 million to $15 million.

Quality Distribution Inc., Annual General Meeting, May 30, 2013., at 10:00 US Eastern Standard Time. Location: Hilton Garden Inn. Agenda: To elect seven directors; to ratify the appointment of PricewaterhouseCoopers LLP as the company's independent registered certified public accounting firm for 2013; to cast an advisory vote to approve the compensation of the company's named executive officers; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof.