| Income Statement for Velocity Express Corp. (VEXP) | | | | | | | Income | in Thousands of Dollars | | | 06/2007 | 06/2006 | 06/2005 | 06/2004 | 06/2003 | | | Operating Revenue | 410,102 | 202,430 | 256,662 | 287,918 | 307,138 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | (315,651) | (139,578) | (203,237) | (234,012) | (236,540) | | Gross Operating Profit | 94,451 | 62,852 | 53,425 | 53,906 | 70,598 | | | Selling/General/Admin Expense | (100,469) | (67,696) | (92,395) | (93,940) | (74,989) | | Research & Development | - | N/A | N/A | N/A | N/A | | EBITDA | (6,018) | (4,844) | (38,970) | (40,034) | (4,391) | | Depreciation & Amortization | (3,598) | (5,993) | (5,105) | (4,308) | (4,596) | | EBIT | (9,616) | (10,837) | (44,075) | (44,342) | (8,987) | | Interest Income | - | - | - | - | - | | Other Income, Net | 708 | 295 | 584 | (109) | (301) | | Total Income Avail For Interest Expense | (18,871) | (10,920) | (45,094) | (44,451) | (9,288) | | Interest Expense | (20,257) | (5,118) | (4,750) | (3,385) | (2,971) | | Pre-Tax Income | (39,128) | (16,038) | (49,844) | (47,836) | (12,259) | | Income Taxes | (37) | - | - | - | - | | Minority Interest | (367) | - | - | - | - | | Net Income from Continuing Operations | (39,532) | (16,038) | (49,844) | (47,836) | (12,259) | | Net Income from Discontinued Operations | - | - | - | - | - | | Net Income from Total Operations | (39,532) | (16,038) | (49,844) | (47,836) | (12,259) | | | Normalized Income | (29,569) | (15,660) | (48,241) | (47,836) | (12,259) | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | (9,963) | (378) | (1,603) | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | (39,532) | (16,038) | (49,844) | (47,836) | (12,259) | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 06/2007 | 06/2006 | 06/2005 | 06/2004 | 06/2003 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | 29,847 | 3,350 | | | Basic EPS from Continuing Operations | -37.95 | -22.35 | -315.15 | -8,280.00 | -2,542.50 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | -37.95 | -22.35 | -315.15 | -8,280.00 | -2,542.50 | | | Diluted EPS from Continuing Operations | -37.95 | -22.35 | -315.15 | -8,280.00 | -2,542.50 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | -37.95 | -22.35 | -315.15 | -8,280.00 | -2,542.50 | | | |
