Financial Statements for Rand Logistics, Inc.

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Rand Logistics, Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31	3 months ending 2011-12-31
Revenue	49.54	50.57	49.61	7.76	49.34
Other Revenue, Total	-	-	-	-	-
Total Revenue	49.54	50.57	49.61	7.76	49.34
Cost of Revenue, Total	34.90	32.41	33.98	5.37	32.69
Gross Profit	14.64	18.16	15.63	2.39	16.64
Selling/General/Admin. Expenses, Total	4.13	3.92	4.24	9.93	3.39
Research & Development	-	-	-	-	-
Depreciation/Amortization	4.41	3.95	3.81	3.27	3.23
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	0.00	3.74	0.00	-	0.00
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	43.48	44.00	42.03	18.46	39.32
Operating Income	6.06	6.57	7.58	-10.71	10.02
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-	-	-	0.00	-
Income Before Tax	3.64	4.61	5.15	-12.96	8.07
Income After Tax	3.42	2.88	3.10	-9.04	7.36
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	3.42	2.88	3.10	-9.04	7.36
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	3.42	2.88	3.10	-9.04	7.36
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	2.61	2.10	2.34	-9.78	6.64
Income Available to Common Incl. Extra Items	2.61	2.10	2.34	-9.78	6.64
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	0.00	-	0.00	0.00	-
Diluted Weighted Average Shares	17.73	17.72	17.72	17.67	20.14
Diluted EPS Excluding Extraordinary Items	0.15	0.12	0.13	-0.55	0.33
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.15	0.25	0.13	-0.55	0.33

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31	As of 2011-12-31
Cash & Equivalents	4.74	5.71	4.16	5.56	5.37
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	4.74	5.71	4.16	5.56	5.37
Accounts Receivable - Trade, Net	23.85	24.52	25.55	5.34	25.15
Receivables - Other	-	-	-	-	-
Total Receivables, Net	23.88	24.52	25.55	5.34	25.15
Total Inventory	-	-	-	-	-
Prepaid Expenses	0.12	0.34	0.90	0.29	0.12
Other Current Assets, Total	6.92	7.36	6.83	6.50	6.26
Total Current Assets	35.67	37.94	37.44	17.70	36.90
Property/Plant/Equipment, Total - Gross	265.60	262.31	252.29	245.91	232.34
Accumulated Depreciation, Total	-49.28	-45.56	-48.02	-45.05	-41.66
Goodwill, Net	10.19	10.19	10.19	10.19	10.19
Intangibles, Net	13.25	13.73	15.23	16.10	16.46
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	11.13	11.77	13.43	12.72	7.87
Total Assets	286.80	290.63	280.81	257.83	262.35
Accounts Payable	15.46	17.70	20.34	19.30	12.24
Accrued Expenses	19.89	19.95	17.81	18.18	18.11
Notes Payable/Short Term Debt	10.02	12.10	23.80	0.00	0.00
Current Port. of LT Debt/Capital Leases	3.66	3.67	9.60	9.69	8.90
Other Current liabilities, Total	1.05	1.49	1.51	2.01	2.29
Total Current Liabilities	50.08	54.92	73.06	49.17	41.53
Long Term Debt	141.74	143.27	119.97	123.92	125.09
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	141.74	143.27	119.97	123.92	125.09
Total Debt	155.42	159.05	153.38	133.60	133.99
Deferred Income Tax	6.34	5.68	4.54	3.09	5.23
Minority Interest	-	-	-	-	-
Other Liabilities, Total	1.98	2.09	2.20	2.31	2.46
Total Liabilities	200.14	205.96	199.78	178.49	174.31
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	14.90	14.90	14.90	14.90	14.90
Common Stock, Total	0.00	0.00	0.00	0.00	0.00
Additional Paid-In Capital	88.31	88.29	88.27	87.85	87.71
Retained Earnings (Accumulated Deficit)	-18.30	-20.91	-23.01	-25.35	-15.57
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	1.75	2.39	0.88	1.94	0.99
Total Equity	86.66	84.67	81.04	79.34	88.03
Total Liabilities & Shareholders' Equity	286.80	290.63	280.81	257.83	262.35
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	17.73	17.73	17.72	17.68	17.67

In Millions of USD (except for per share items)	As of 2012-03-31	As of 2011-03-31	As of 2010-03-31	As of 2009-03-31
Cash & Equivalents	5.56	4.51	0.94	1.95
Short Term Investments	-	-	-	-
Cash and Short Term Investments	5.56	4.51	0.94	1.95
Accounts Receivable - Trade, Net	5.34	6.99	3.92	1.17
Receivables - Other	-	-	-	-
Total Receivables, Net	5.34	7.04	4.08	1.19
Total Inventory	-	-	-	-
Prepaid Expenses	0.29	0.08	0.44	0.86
Other Current Assets, Total	6.50	4.56	3.32	2.56
Total Current Assets	17.70	16.18	8.79	6.57
Property/Plant/Equipment, Total - Gross	245.91	200.71	123.97	100.56
Accumulated Depreciation, Total	-45.05	-34.02	-25.49	-14.32
Goodwill, Net	10.19	10.19	10.19	10.19
Intangibles, Net	16.10	15.31	14.00	13.50
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	12.72	6.89	7.67	19.41
Total Assets	257.83	215.51	139.38	135.90
Accounts Payable	19.30	12.39	7.86	4.13
Accrued Expenses	18.18	22.22	11.09	11.09
Notes Payable/Short Term Debt	0.00	1.48	0.00	2.79
Current Port. of LT Debt/Capital Leases	9.69	7.18	4.73	4.09
Other Current liabilities, Total	2.01	2.88	2.56	4.38
Total Current Liabilities	49.17	46.14	26.24	26.48
Long Term Debt	123.92	104.99	57.92	54.24
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	123.92	104.99	57.92	54.24
Total Debt	133.60	113.65	62.65	61.12
Deferred Income Tax	3.09	3.30	3.50	13.19
Minority Interest	-	-	-	-
Other Liabilities, Total	2.31	2.75	0.24	0.23
Total Liabilities	178.49	157.18	87.91	94.13
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	14.90	14.90	14.90	14.90
Common Stock, Total	0.00	0.00	0.00	0.00
Additional Paid-In Capital	87.85	71.50	63.91	61.67
Retained Earnings (Accumulated Deficit)	-25.35	-30.67	-28.42	-29.23
Treasury Stock - Common	-	-	-	-
Other Equity, Total	1.94	2.59	1.09	-5.58
Total Equity	79.34	58.33	51.48	41.77
Total Liabilities & Shareholders' Equity	257.83	215.51	139.38	135.90
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	17.68	14.78	13.40	12.89

In Millions of USD (except for per share items)	9 months ending 2012-12-31	6 months ending 2012-09-30	3 months ending 2012-06-30	12 months ending 2012-03-31
Net Income/Starting Line	9.39	5.98	3.10	8.12
Depreciation/Depletion	13.82	8.86	4.37	14.63
Amortization	1.66	1.20	0.65	2.34
Deferred Taxes	4.05	3.78	2.05	-1.63
Non-Cash Items	-0.76	-0.42	-3.46	-6.11
Changes in Working Capital	-14.29	-14.54	-14.25	1.77
Cash from Operating Activities	13.88	4.86	-7.54	19.12
Capital Expenditures	-33.62	-26.82	-14.67	-51.85
Other Investing Cash Flow Items, Total	-	-	-	-
Cash from Investing Activities	-33.62	-26.82	-14.67	-51.85
Financing Cash Flow Items	-2.46	-2.33	-0.18	11.54
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-	-	-	-
Issuance (Retirement) of Debt, Net	21.52	24.45	21.23	22.40
Cash from Financing Activities	19.06	22.13	21.05	33.94
Foreign Exchange Effects	-0.14	-0.01	-0.25	-0.15
Net Change in Cash	-0.83	0.15	-1.41	1.05
Cash Interest Paid, Supplemental	7.65	4.93	2.35	8.25
Cash Taxes Paid, Supplemental	0.05	0.05	0.04	0.06

In Millions of USD (except for per share items)	12 months ending 2012-03-31	12 months ending 2011-03-31	12 months ending 2010-03-31	12 months ending 2009-03-31
Net Income/Starting Line	8.12	0.12	2.74	-7.17
Depreciation/Depletion	14.63	10.46	11.64	8.94
Amortization	2.34	1.75	1.82	2.05
Deferred Taxes	-1.63	0.15	1.26	7.46
Non-Cash Items	-6.11	0.54	-0.93	2.30
Changes in Working Capital	1.77	-1.82	-4.48	-7.82
Cash from Operating Activities	19.12	11.20	12.06	5.76
Capital Expenditures	-51.85	-65.40	-5.47	-9.04
Other Investing Cash Flow Items, Total	-	-	0.00	0.25
Cash from Investing Activities	-51.85	-65.40	-5.47	-8.79
Financing Cash Flow Items	11.54	9.15	0.00	0.00
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-	-	0.00	0.15
Issuance (Retirement) of Debt, Net	22.40	47.47	-7.80	0.86
Cash from Financing Activities	33.94	56.62	-7.80	1.01
Foreign Exchange Effects	-0.15	1.15	0.19	-1.65
Net Change in Cash	1.05	3.56	-1.01	-3.67
Cash Interest Paid, Supplemental	8.25	4.86	5.38	6.00
Cash Taxes Paid, Supplemental	0.06	0.29	0.04	0.00

In Millions of USD (except for per share items)	12 months ending 2012-03-31	12 months ending 2011-03-31	12 months ending 2010-03-31	12 months ending 2009-03-31
Revenue	147.82	117.98	108.22	134.19
Other Revenue, Total	-	-	-	-
Total Revenue	147.82	117.98	108.22	134.19
Cost of Revenue, Total	97.27	77.18	64.93	81.35
Gross Profit	50.55	40.80	43.29	52.84
Selling/General/Admin. Expenses, Total	22.56	25.18	25.09	35.11
Research & Development	-	-	-	-
Depreciation/Amortization	12.90	8.88	10.64	8.46
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	-	-	0.00
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	132.58	111.21	100.62	124.91
Operating Income	15.25	6.76	7.59	9.28
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	0.00	-1.28	0.00	0.00
Income Before Tax	6.70	0.26	4.14	0.14
Income After Tax	8.12	0.12	2.74	-7.17
Minority Interest	-	-	-	0.00
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	8.12	0.12	2.74	-7.17
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	8.12	0.12	2.74	-7.17
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	5.32	-2.25	0.81	-8.76
Income Available to Common Incl. Extra Items	5.32	-2.25	0.81	-8.76
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	0.00	-	0.00
Diluted Weighted Average Shares	16.34	13.63	13.07	12.56
Diluted EPS Excluding Extraordinary Items	0.33	-0.16	0.06	-0.70
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.33	-0.16	0.06	-0.70