TransMontaigne Inc. Announces Conference Call to Review Actual Financial Results for the Year Ended June 30, 2005
August 08 2005 - 6:17PM
Business Wire
TransMontaigne Inc. (NYSE:TMG) today announced that the Company
expects to hold a conference call for analysts, investors and other
interested parties on September 12, 2005, to review actual
financial results for the three months and year ended June 30,
2005. Actual results for the three months and year ended June 30,
2005, are expected to be available in September 2005 upon
completion of the annual audit. TransMontaigne currently expects
the financial performance of its business segments for the three
months ended June 30, 2005, to approximate the results for the
three months ended September 30, 2004. "While the preliminary
results for the three months ended June 30, 2005, are significantly
below the results for our last two quarters, we still had an
outstanding fiscal year and achieved several noteworthy
accomplishments, including the completion of our initial public
offering of TransMontaigne Partners L.P. and the execution of a
supply agreement with Morgan Stanley," said Donald H. Anderson,
Chief Executive Officer of TransMontaigne Inc. "The Morgan Stanley
agreement allowed TransMontaigne to liquidate a substantial portion
of its in-transit inventory volumes, the proceeds of which were
used to repay outstanding borrowings under our senior secured
working capital facility. We want to remind our stockholders that
our marketing and distribution segment will continue to experience
variable results from quarter to quarter, as it has in prior years.
Based on our current infrastructure, we expect that our results for
fiscal year 2006 will be lower than the record results produced in
fiscal year 2005. Nonetheless, we are excited about our prospects
for next year, including both potential asset acquisitions and
organic growth utilizing the $110 million distribution we received
from the TransMontaigne Partners L.P. initial public offering."
TransMontaigne Inc. is a refined petroleum products marketing and
distribution company based in Denver, Colorado, with operations in
the United States, primarily in the Gulf Coast, Midwest and East
Coast regions. The Company's principal activities consist of (i)
terminal and tug and barge operations, (ii) marketing and
distribution, (iii) supply chain management services and (iv)
operating its consolidated subsidiary, TransMontaigne Partners L.P.
(NYSE:TLP), a publicly traded master limited partnership that
engages in refined petroleum products terminal and pipeline
operations. The Company's customers include refiners, wholesalers,
distributors, marketers, and industrial and commercial end-users of
refined petroleum products. Corporate news and additional
information about TransMontaigne Inc. is available on the Company's
web site: www.transmontaigne.com. Forward-Looking Statements This
press release includes statements that may constitute
forward-looking statements made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995.
This information may involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. Although the Company believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those projected.
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