EX-99.1 2 dske_folio8kmar30exhibit.htm EX-99.1 DSKE_Folio_8K_Mar30_Exhibit

Exhibit 99.1

 

Daseke, Inc.

2016 Selected Quarterly Financial Data

(Unaudited)

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Three Months Ended

 

 

March 31 

 

June 30

 

September 30

 

December 31

REVENUE:

 

  

 

  

 

  

 

  

Freight

 

$
126,259

 

$
136,792

 

$
135,415

 

$
119,395

Brokerage

 

20,604

 

21,778

 

25,977

 

19,051

Fuel surcharge

 

10,018

 

11,787

 

12,756

 

11,970

Total revenue

 

156,881

 

170,357

 

174,148

 

150,416

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

  

 

  

 

  

 

  

Salaries, wages and employee benefits

 

50,355

 

50,207

 

49,298

 

47,929

Fuel

 

14,497

 

17,283

 

17,296

 

17,789

Operations and maintenance

 

20,701

 

24,358

 

27,874

 

23,167

Communications

 

484

 

354

 

370

 

410

Purchased freight

 

36,775

 

41,185

 

42,541

 

33,553

Administrative expenses

 

7,394

 

5,096

 

5,221

 

7,539

Sales and marketing

 

363

 

483

 

435

 

462

Taxes and licenses

 

2,333

 

2,345

 

2,268

 

2,276

Insurance and claims

 

4,041

 

4,542

 

5,065

 

5,466

Acquisition-related transaction expenses

 

15

 

3

 

 —

 

7

Depreciation and amortization

 

16,873

 

16,644

 

16,998

 

16,985

Gain on disposition of revenue property and equipment

 

81

 

571

 

(495)

 

(273)

Impairments

 

 —

 

 —

 

1,195

 

810

Total operating expenses

 

153,912

 

163,071

 

168,066

 

156,120

INCOME (LOSS) FROM OPERATIONS

 

2,969

 

7,286

 

6,082

 

(5,704)

 

 

  

 

  

 

  

 

  

Other (income) expense:

 

  

 

  

 

  

 

  

Interest income

 

(20)

 

(16)

 

(4)

 

(4)

Interest expense

 

5,351

 

5,446

 

6,724

 

5,603

Other

 

(73)

 

(129)

 

(64)

 

(65)

Total other expense

 

5,258

 

5,301

 

6,656

 

5,534

 

 

 

 

 

 

 

 

 

Income (loss) before provision for income taxes

 

(2,289)

 

1,985

 

(574)

 

(11,238)

Provision (benefit) for income taxes

 

(1,049)

 

974

 

683

 

(445)

Net income (loss)

 

$
(1,240)

 

$
1,011

 

$
(1,257)

 

$
(10,793)

 

 


 

 

Daseke, Inc. and Subsidiaries

2015 Selected Quarterly Financial Data

(Unaudited)

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Three Months Ended

 

 

March 31 

 

June 30

 

September 30

 

December 31

REVENUE:

 

  

 

  

 

  

 

  

Freight

 

$
110,136

 

$
118,565

 

$
144,238

 

$
133,643

Brokerage

 

22,739

 

25,882

 

30,733

 

29,546

Fuel surcharge

 

16,751

 

16,578

 

16,303

 

13,731

Total revenue

 

149,626

 

161,025

 

191,274

 

176,920

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

  

 

  

 

  

 

  

Salaries, wages and employee benefits

 

39,189

 

41,196

 

48,192

 

50,126

Fuel

 

17,394

 

18,643

 

18,313

 

15,946

Operations and maintenance

 

20,336

 

22,155

 

28,500

 

27,743

Communications

 

407

 

567

 

577

 

483

Purchased freight

 

40,961

 

44,758

 

50,527

 

45,739

Administrative expenses

 

4,353

 

4,533

 

6,553

 

6,271

Sales and marketing

 

681

 

692

 

823

 

715

Taxes and licenses

 

2,152

 

2,143

 

2,388

 

2,545

Insurance and claims

 

5,178

 

3,996

 

4,983

 

5,498

Acquisition-related transaction expenses

 

3

 

167

 

611

 

411

Depreciation and amortization

 

14,460

 

14,714

 

16,719

 

17,680

Gain on disposition of revenue property and equipment

 

(634)

 

(898)

 

(571)

 

(81)

Impairments

 

 —

 

 —

 

 —

 

 —

Total operating expenses

 

144,480

 

152,666

 

177,615

 

173,076

INCOME FROM OPERATIONS

 

5,146

 

8,359

 

13,659

 

3,844

 

 

  

 

  

 

  

 

  

Other (income) expense:

 

  

 

  

 

  

 

  

Interest income

 

(15)

 

(15)

 

(21)

 

(18)

Interest expense

 

4,798

 

4,651

 

5,426

 

5,727

Other

 

(79)

 

(38)

 

(42)

 

(92)

Total other expense

 

4,704

 

4,598

 

5,363

 

5,617

 

 

 

 

 

 

 

 

 

Income (loss) before provision for income taxes

 

442

 

3,761

 

8,296

 

(1,773)

Provision (benefit) for income taxes

 

256

 

2,181

 

6,054

 

(1,028)

Net income (loss)

 

$
186

 

$
1,580

 

$
2,242

 

$
(745)

 


 

Flatbed Solutions Segment

2016 Selected Quarterly Financial Data

(Unaudited)

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Three Months Ended

 

 

March 31 

 

June 30

 

September 30

 

December 31

REVENUE(1):

 

  

 

  

 

  

 

  

Freight

 

$
62,648

 

$
67,927

 

$
64,281

 

$
58,968

Brokerage

 

7,796

 

7,276

 

7,410

 

7,263

Fuel surcharge

 

5,645

 

6,903

 

7,284

 

7,039

Total revenue

 

76,089

 

82,106

 

78,975

 

73,270

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

  

 

  

 

  

 

  

Salaries, wages and employee benefits

 

23,647

 

24,446

 

23,233

 

22,492

Fuel

 

7,889

 

9,418

 

9,401

 

9,795

Operations and maintenance

 

7,553

 

8,336

 

8,710

 

8,246

Purchased freight

 

18,466

 

21,140

 

20,169

 

17,788

Depreciation and amortization

 

7,619

 

7,417

 

7,651

 

7,758

Impairments

 

 —

 

 —

 

 —

 

 —

Other operating expenses

 

6,026

 

5,992

 

6,017

 

5,588

Total operating expenses

 

71,200

 

76,749

 

75,181

 

71,667

INCOME FROM OPERATIONS

 

$
4,889

 

$
5,357

 

$
3,794

 

$
1,603

 

 

  

 

  

 

  

 

  

Total Miles

 

37,277,502

 

39,070,262

 

37,767,726

 

35,169,265

Company-operating tractors

 

1,191

 

1,135

 

1,191

 

1,203

Owner-operated tractors

 

426

 

467

 

431

 

390

Number of trailers

 

2,969

 

2,695

 

2,857

 

2,943

 

 

(1)Includes intersegment revenues and expenses, as applicable, which are eliminated in Daseke’s consolidated results.


 

Flatbed Solutions Segment

2015 Selected Quarterly Financial Data

(Unaudited)

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Three Months Ended

 

 

March 31 

 

June 30

 

September 30

 

December 31

REVENUE(1):

 

  

 

  

 

  

 

  

Freight

 

$
55,194

 

$
59,575

 

$
64,656

 

$
62,316

Brokerage

 

6,912

 

7,894

 

7,311

 

7,034

Fuel surcharge

 

9,430

 

9,516

 

8,933

 

7,549

Total revenue

 

71,536

 

76,985

 

80,900

 

76,899

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

  

 

  

 

  

 

  

Salaries, wages and employee benefits

 

19,963

 

21,253

 

22,987

 

23,733

Fuel

 

10,276

 

10,942

 

9,930

 

8,640

Operations and maintenance

 

7,113

 

7,228

 

7,833

 

7,114

Purchased freight

 

17,032

 

19,151

 

20,219

 

19,383

Depreciation and amortization

 

7,397

 

7,117

 

7,959

 

7,803

Impairments

 

 —

 

 —

 

 —

 

 —

Other operating expenses

 

6,305

 

4,290

 

6,034

 

6,387

Total operating expenses

 

68,086

 

69,981

 

74,962

 

73,060

INCOME FROM OPERATIONS

 

$
3,450

 

$
7,004

 

$
5,938

 

$
3,839

 

 

  

 

  

 

  

 

  

Total Miles

 

30,922,510

 

33,881,116

 

36,155,715

 

35,985,852

Company-operating tractors

 

1,216

 

1,214

 

1,187

 

1,205

Owner-operated tractors

 

408

 

426

 

447

 

432

Number of trailers

 

3,131

 

2,897

 

2,916

 

2,920

 

(1)Includes intersegment revenues and expenses, as applicable, which are eliminated in Daseke’s consolidated results.

 


 

Specialized Solutions Segment

2016 Selected Quarterly Financial Data

(Unaudited)

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Three Months Ended

 

 

March 31 

 

June 30

 

September 30

 

December 31

REVENUE(1):

 

  

 

  

 

  

 

  

Freight

 

$
64,253

 

$
70,021

 

$
72,367

 

$
61,480

Brokerage

 

12,882

 

14,525

 

18,579

 

11,805

Fuel surcharge

 

4,438

 

4,997

 

5,589

 

5,062

Total revenue

 

81,573

 

89,543

 

96,535

 

78,347

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

  

 

  

 

  

 

  

Salaries, wages and employee benefits

 

24,959

 

24,757

 

24,714

 

22,670

Fuel

 

6,608

 

7,865

 

7,895

 

7,994

Operations and maintenance

 

12,940

 

15,819

 

18,927

 

14,650

Purchased freight

 

19,090

 

21,337

 

23,733

 

16,966

Depreciation and amortization

 

9,215

 

9,188

 

9,309

 

9,187

Impairments

 

 —

 

 —

 

1,195

 

810

Other operating expenses

 

4,880

 

5,508

 

5,023

 

4,481

Total operating expenses

 

77,692

 

84,474

 

90,796

 

76,758

INCOME FROM OPERATIONS

 

$
3,881

 

$
5,069

 

$
5,739

 

$
1,589

 

 

  

 

  

 

  

 

  

Total Miles

 

24,606,431

 

25,400,230

 

24,266,511

 

23,431,447

Company-operating tractors

 

1,085

 

1,104

 

1,114

 

1,101

Owner-operated tractors

 

240

 

243

 

232

 

219

Number of trailers

 

3,288

 

3,336

 

3,413

 

3,404

 

(1)Includes intersegment revenues and expenses, as applicable, which are eliminated in Daseke’s consolidated results.

 


 

Specialized Solutions Segment

2015 Selected Quarterly Financial Data

(Unaudited)

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Three Months Ended

 

 

March 31 

 

June 30

 

September 30

 

December 31

REVENUE(1):

 

  

 

  

 

  

 

  

Freight

 

$
55,623

 

$
59,955

 

$
80,531

 

$
72,891

Brokerage

 

15,827

 

17,988

 

23,470

 

22,581

Fuel surcharge

 

7,321

 

7,062

 

7,460

 

6,343

Total revenue

 

78,771

 

85,005

 

111,461

 

101,815

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

  

 

  

 

  

 

  

Salaries, wages and employee benefits

 

18,818

 

19,385

 

24,420

 

26,269

Fuel

 

7,118

 

7,700

 

8,383

 

7,307

Operations and maintenance

 

13,098

 

14,798

 

20,516

 

20,421

Purchased freight

 

24,610

 

26,573

 

31,394

 

28,149

Depreciation and amortization

 

7,044

 

7,572

 

9,131

 

9,432

Impairments

 

 —

 

 —

 

 —

 

 —

Other operating expenses

 

4,283

 

5,228

 

5,583

 

6,666

Total operating expenses

 

74,971

 

81,256

 

99,427

 

98,244

INCOME FROM OPERATIONS

 

$
3,800

 

$
3,749

 

$
12,034

 

$
3,571

 

 

  

 

  

 

  

 

  

Total Miles

 

21,431,471

 

22,262,923

 

25,756,201

 

24,527,851

Company-operating tractors

 

1,007

 

1,025

 

1,057

 

1,062

Owner-operated tractors

 

330

 

311

 

311

 

270

Number of trailers

 

3,062

 

3,099

 

3,046

 

3,057

 

(1)Includes intersegment revenues and expenses, as applicable, which are eliminated in Daseke’s consolidated results.