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LONDON, UK / ACCESSWIRE / April 28, 2017 / Active Wall St. announces the list of stocks for today's research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Consumer Cyclical Sector/ Autos industry. Companies recently under review include Pacific Insight Electronics, AutoCanada, Exco Technologies, and Grande West Transportation Group. Get all of our free research reports by signing up at: On Thursday, April 27, 2017, the Toronto Exchange Composite Index was down 0.91%, finishing the day at 15,506.47. The TSX Venture Composite Index, on the other hand, closed at 800.41, down 0.78%. Active Wall St. has initiated research reports on the following equities: Pacific Insight Electronics Corporation (TSX: PIH), AutoCanada Inc. (TSX: ACQ), Exco Technologies Ltd. (TSX: XTC), and Grande West Transportation Group Inc. (TSX-V: BUS). Register with us now for your free membership and research reports at: Nelson, Canada headquartered Pacific Insight Electronics Corp.'s stock edged 0.24% higher, to finish Thursday's session at $8.32 with a total volume of 10,100 shares traded. Pacific Insight Electronics' shares have advanced 4.65% in the past one month. The Company's shares are trading below its 50-day and 200-day moving averages. Pacific Insight Electronics' 200-day moving average of $8.98 is above its 50-day moving average of $8.39. Shares of the Company, which together with its subsidiaries, designs, develops, manufactures, and sells electronic products and full service solutions in the US, Canada, and internationally, are trading at a PE ratio of 7.52. See our research report on PIH.TO at: On Thursday, shares in Edmonton, Canada headquartered AutoCanada Inc. recorded a trading volume of 116,226 shares, which was above their three months average volume of 90,341 shares. The stock ended the day 0.13% higher at $23.43. AutoCanada's stock has gained 9.28% in the last one month and 14.13% in the previous one year. The Company's shares are trading above its 50-day and 200-day moving averages. The stock's 200-day moving average of $23.24 is above its 50-day moving average of $22.75. Shares of the Company, which through its subsidiaries, operates franchised automobile dealerships in Canada, are trading at PE ratio of 260.33. The complimentary research report on ACQ.TO at: On Thursday, shares in Markham, Canada-based Exco Technologies Ltd. ended the session 2.90% higher at $11.34 with a total volume of 129,430 shares traded. Exco Technologies' shares have gained 7.59% in the past three months. The stock is trading above its 200-day moving average. Further, the stock's 50-day moving average of $11.52 is greater than its 200-day moving average of $11.13. Shares of Exco Technologies, which together with its subsidiaries, designs, develops, manufactures, and sells dies, molds, components and assemblies, and consumable equipment for the die-cast, extrusion, and automotive industries, are trading at a PE ratio of 10.31. Register for free and access the latest research report on XTC.TO at: Aldergrove, Canada headquartered Grande West Transportation Group Inc.'s stock closed the day 0.69% lower at $2.86. The stock recorded a trading volume of 419,063 shares. Grande West Transportation Group's shares have surged 61.58% in the last three months and 276.32% in the past one year. Shares of the company, which through its subsidiary, Grande West Transportation International Ltd, focuses on the manufacture and sale of transit buses under the Vicinity brand in North America, are trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $2.98 is greater than its 200-day moving average of $1.96. Get free access to your research report on BUS.V at: Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. AWS has not been compensated; directly or indirectly; for producing or publishing this document. The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst ,[or further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/. For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. LONDON, UK / ACCESSWIRE / April 28, 2017 / Active Wall St. announces the list of stocks for today's research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Consumer Cyclical Sector/ Autos industry. Companies recently under review include Pacific Insight Electronics, AutoCanada, Exco Technologies, and Grande West Transportation Group. Get all of our free research reports by signing up at: On Thursday, April 27, 2017, the Toronto Exchange Composite Index was down 0.91%, finishing the day at 15,506.47. The TSX Venture Composite Index, on the other hand, closed at 800.41, down 0.78%. Active Wall St. has initiated research reports on the following equities: Pacific Insight Electronics Corporation (TSX: PIH), AutoCanada Inc. (TSX: ACQ), Exco Technologies Ltd. (TSX: XTC), and Grande West Transportation Group Inc. (TSX-V: BUS). Register with us now for your free membership and research reports at: Nelson, Canada headquartered Pacific Insight Electronics Corp.'s stock edged 0.24% higher, to finish Thursday's session at $8.32 with a total volume of 10,100 shares traded. Pacific Insight Electronics' shares have advanced 4.65% in the past one month. The Company's shares are trading below its 50-day and 200-day moving averages. Pacific Insight Electronics' 200-day moving average of $8.98 is above its 50-day moving average of $8.39. Shares of the Company, which together with its subsidiaries, designs, develops, manufactures, and sells electronic products and full service solutions in the US, Canada, and internationally, are trading at a PE ratio of 7.52. See our research report on PIH.TO at: On Thursday, shares in Edmonton, Canada headquartered AutoCanada Inc. recorded a trading volume of 116,226 shares, which was above their three months average volume of 90,341 shares. The stock ended the day 0.13% higher at $23.43. AutoCanada's stock has gained 9.28% in the last one month and 14.13% in the previous one year. The Company's shares are trading above its 50-day and 200-day moving averages. The stock's 200-day moving average of $23.24 is above its 50-day moving average of $22.75. Shares of the Company, which through its subsidiaries, operates franchised automobile dealerships in Canada, are trading at PE ratio of 260.33. The complimentary research report on ACQ.TO at: On Thursday, shares in Markham, Canada-based Exco Technologies Ltd. ended the session 2.90% higher at $11.34 with a total volume of 129,430 shares traded. Exco Technologies' shares have gained 7.59% in the past three months. The stock is trading above its 200-day moving average. Further, the stock's 50-day moving average of $11.52 is greater than its 200-day moving average of $11.13. Shares of Exco Technologies, which together with its subsidiaries, designs, develops, manufactures, and sells dies, molds, components and assemblies, and consumable equipment for the die-cast, extrusion, and automotive industries, are trading at a PE ratio of 10.31. Register for free and access the latest research report on XTC.TO at: Aldergrove, Canada headquartered Grande West Transportation Group Inc.'s stock closed the day 0.69% lower at $2.86. The stock recorded a trading volume of 419,063 shares. Grande West Transportation Group's shares have surged 61.58% in the last three months and 276.32% in the past one year. Shares of the company, which through its subsidiary, Grande West Transportation International Ltd, focuses on the manufacture and sale of transit buses under the Vicinity brand in North America, are trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $2.98 is greater than its 200-day moving average of $1.96. Get free access to your research report on BUS.V at: Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. AWS has not been compensated; directly or indirectly; for producing or publishing this document. The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst ,[or further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/. For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


LONDON, UK / ACCESSWIRE / April 28, 2017 / Active Wall St. announces the list of stocks for today's research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Consumer Cyclical Sector/ Autos industry. Companies recently under review include Pacific Insight Electronics, AutoCanada, Exco Technologies, and Grande West Transportation Group. Get all of our free research reports by signing up at: On Thursday, April 27, 2017, the Toronto Exchange Composite Index was down 0.91%, finishing the day at 15,506.47. The TSX Venture Composite Index, on the other hand, closed at 800.41, down 0.78%. Active Wall St. has initiated research reports on the following equities: Pacific Insight Electronics Corporation (TSX: PIH), AutoCanada Inc. (TSX: ACQ), Exco Technologies Ltd. (TSX: XTC), and Grande West Transportation Group Inc. (TSX-V: BUS). Register with us now for your free membership and research reports at: Nelson, Canada headquartered Pacific Insight Electronics Corp.'s stock edged 0.24% higher, to finish Thursday's session at $8.32 with a total volume of 10,100 shares traded. Pacific Insight Electronics' shares have advanced 4.65% in the past one month. The Company's shares are trading below its 50-day and 200-day moving averages. Pacific Insight Electronics' 200-day moving average of $8.98 is above its 50-day moving average of $8.39. Shares of the Company, which together with its subsidiaries, designs, develops, manufactures, and sells electronic products and full service solutions in the US, Canada, and internationally, are trading at a PE ratio of 7.52. See our research report on PIH.TO at: On Thursday, shares in Edmonton, Canada headquartered AutoCanada Inc. recorded a trading volume of 116,226 shares, which was above their three months average volume of 90,341 shares. The stock ended the day 0.13% higher at $23.43. AutoCanada's stock has gained 9.28% in the last one month and 14.13% in the previous one year. The Company's shares are trading above its 50-day and 200-day moving averages. The stock's 200-day moving average of $23.24 is above its 50-day moving average of $22.75. Shares of the Company, which through its subsidiaries, operates franchised automobile dealerships in Canada, are trading at PE ratio of 260.33. The complimentary research report on ACQ.TO at: On Thursday, shares in Markham, Canada-based Exco Technologies Ltd. ended the session 2.90% higher at $11.34 with a total volume of 129,430 shares traded. Exco Technologies' shares have gained 7.59% in the past three months. The stock is trading above its 200-day moving average. Further, the stock's 50-day moving average of $11.52 is greater than its 200-day moving average of $11.13. Shares of Exco Technologies, which together with its subsidiaries, designs, develops, manufactures, and sells dies, molds, components and assemblies, and consumable equipment for the die-cast, extrusion, and automotive industries, are trading at a PE ratio of 10.31. Register for free and access the latest research report on XTC.TO at: Aldergrove, Canada headquartered Grande West Transportation Group Inc.'s stock closed the day 0.69% lower at $2.86. The stock recorded a trading volume of 419,063 shares. Grande West Transportation Group's shares have surged 61.58% in the last three months and 276.32% in the past one year. Shares of the company, which through its subsidiary, Grande West Transportation International Ltd, focuses on the manufacture and sale of transit buses under the Vicinity brand in North America, are trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $2.98 is greater than its 200-day moving average of $1.96. Get free access to your research report on BUS.V at: Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. AWS has not been compensated; directly or indirectly; for producing or publishing this document. The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst ,[or further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/. For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


News Article | May 18, 2017
Site: www.accesswire.com

LOS ANGELES, CA / ACCESSWIRE / May 18, 2017 / Grande West Transportation Group Inc. (TSX-V: BUS; OTC PINK: GWTNF) - a Canadian bus manufacturer of heavy-duty mid-sized transit buses for sale in Canada and the United States today announced that it will be presenting at the 7th annual LD Micro Invitational on Tuesday June 6 at 8:00 AM PST / 11 AM EST. CEO William Trainer will be giving the presentation and meeting with investors. A webcast of the presentation will be available here: http://wsw.com/webcast/ldmicro12/bus.v "This year, not only do we have a record number of companies making their LD Micro debuts, but a record number of companies presenting for the first time in their company's history" stated Chris Lahiji, President of LD Micro. "LD has established itself as the one venue that brings the most influential players from all segments of the market under one roof." The conference will be held at the Luxe Sunset Bel Air Hotel and will feature 180 companies in the small / micro-cap space. Grande West Transportation Group is a Canadian bus manufacturer which designs, engineers and manufactures mid-size buses for transit authorities and commercial enterprises. Grande West's Best-in-Class Vicinity bus is available in 27.5, 30 and 35 foot models powered by clean diesel or CNG designed with affordability, accessibility and global responsibility in mind. It costs significantly less than a regular 40 foot transit bus, burns less fuel and emits less harmful emissions. The Company supplies Canadian and US municipal transportation agencies and private operators with new buses and has customers in 8 of 10 provinces coast to coast across Canada. Grande West is Buy America compliant and along with ABG, its exclusive US distributor, is actively supplying Vicinity into public and private transit fleet operations in the US. LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event). In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe. For those interested in attending, please contact David Scher at [email protected] or visit www.ldmicro.com for more information.


News Article | May 18, 2017
Site: marketersmedia.com

"This year, not only do we have a record number of companies making their LD Micro debuts, but a record number of companies presenting for the first time in their company's history" stated Chris Lahiji, President of LD Micro. "LD has established itself as the one venue that brings the most influential players from all segments of the market under one roof." The conference will be held at the Luxe Sunset Bel Air Hotel and will feature 180 companies in the small / micro-cap space. Grande West Transportation Group is a Canadian bus manufacturer which designs, engineers and manufactures mid-size buses for transit authorities and commercial enterprises. Grande West's Best-in-Class Vicinity bus is available in 27.5, 30 and 35 foot models powered by clean diesel or CNG designed with affordability, accessibility and global responsibility in mind. It costs significantly less than a regular 40 foot transit bus, burns less fuel and emits less harmful emissions. The Company supplies Canadian and US municipal transportation agencies and private operators with new buses and has customers in 8 of 10 provinces coast to coast across Canada. Grande West is Buy America compliant and along with ABG, its exclusive US distributor, is actively supplying Vicinity into public and private transit fleet operations in the US. LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event). In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe. For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com for more information.


News Article | May 3, 2017
Site: www.prweb.com

Polaris Transportation Group (PTG) is pleased to announce that it has acquired the shares of J.G. Drapeau Ltd. and Commercial Warehousing Limited based in Toronto, Ontario. Drapeau and Commercial Warehousing will continue to be led by the current management team, including Ms. Margaret Hogg, who will remain General Manager of the companies. “We are thrilled to be welcoming another best-in-class company to the PTG family,” noted Larry Cox, President. “Drapeau is an award winning carrier (most recently recognized by Trucking HR Canada with the prestigious 2017 Top Fleet Employer award), with a top tier safety record, strong management team, and consistent financial performance over their 47 years in the industry. In addition, they bring deep subject matter expertise in the field of specialized products warehousing, Canada and US distribution programs, and full truckload work (temperature control and hazardous materials).” “We are incredibly proud of the business we have built over the past 47 years,” commented George Hogg and Jocelyne Hogg, co-founders of Drapeau and Commercial. “The next generation of leaders at Drapeau and Commercial will benefit from all the opportunities a large organization like Polaris can bring, coupled with what we believe to be an excellent cultural fit between our two companies. Polaris’ operational focus, with a passion around safety and well-being for employees, makes them an excellent fit for our team and long standing customers and suppliers.” This marks Polaris’ third acquisition as the company carries forward its growth agenda consisting of organic and selective acquisitive growth. This acquisition allows Polaris to increase its concentration of Fortune 500 customers, across a wider breadth of industries. Founded in 1994, Polaris Transportation Group is the largest privately held LTL cross border carrier in Canada. Polaris specializes in the shipment of dry goods and offers daily LTL departures to/from all points across Canada and USA. For more information on Polaris visit their website at http://www.polaristransport.com


CHATTANOOGA, Tenn., April 17, 2017 (GLOBE NEWSWIRE) -- Covenant Transportation Group, Inc. (Nasdaq:CVTI) announced it plans to release its first quarter earnings after 4:00 p.m. Eastern time on Thursday, April 20.  Covenant Transportation Group, Inc. will hold a live conference call to discuss its first quarter earnings release on Friday, April 21, at 10:30 a.m. Eastern time.  Individuals with questions may dial in at 800-351-4894 (U.S./Canada) and 800-756-3333 (International), access code CTG1.  An audio replay will be available for one week following the call at 877-919-4059, access code 82607300.  In addition, you will be able to listen to the audio replay for an extended period of time on our investor website, under the icon "Audio Archives".  For additional financial and statistical information regarding the Company that may be discussed during the conference call, please visit our website at www.ctgcompanies.com/investor-relations under the tab "Earnings Info." Covenant Transportation Group, Inc. is the holding company for several transportation providers that offer premium transportation services for customers throughout the United States. The consolidated group includes operations from Covenant Transport and Covenant Transport Solutions of Chattanooga, Tennessee; Southern Refrigerated Transport of Texarkana, Arkansas; and Star Transportation of Nashville, Tennessee.  In addition, Transport Enterprise Leasing, of Chattanooga, Tennessee is an integral affiliated company. The Company's Class A common stock is traded on the NASDAQ Global Select under the symbol, “CVTI”.


CHATTANOOGA, Tenn., April 20, 2017 (GLOBE NEWSWIRE) -- Covenant Transportation Group, Inc. (NASDAQ:CVTI) (“CTG”) announced today financial and operating results for the first quarter ended March 31, 2017. Highlights for the quarter included the following: Chairman, and Chief Executive Officer, David R. Parker, made the following comments:  “Freight demand was moderate during the quarter, and our industry continued to have excess capacity available in advance of the scheduled implementation and enforcement of the electronic logging mandate in December 2017.  Many shippers engaged in bid processes as a means to lower upward pressure on their freight rates before any meaningful tightening of capacity.  In this environment, we were pleased to raise our yield slightly through eliminating non-revenue miles and allocating our equipment more effectively.  We intend to continue to pursue these tactics in advance of a supply-demand relationship that we expect to be more favorable in the second half of 2017 and beyond.  From a cost perspective, our margins were pressured across nearly all fronts other than net fuel expense, as we continued to invest in our people, equipment, and technologies." Management Discussion—Asset-Based Truckload Operations Mr. Parker continued:  “For the quarter, total revenue in our asset‑based operations increased to $145.6 million, an increase of $2.9 million compared with the first quarter of 2016.  This increase consisted of a $7.0 million increase in fuel surcharge revenue, partially offset by a $4.1 million reduction of freight revenue. The $4.1 million decrease in freight revenue related to a 63 truck (or 2.4%) decrease in our average tractor fleet and one less calendar day in the 2017 period as compared to the 2016 period. Team-driven trucks increased to an average of 1,003 teams in the first quarter of 2017, an increase of approximately 2.5% over the average of 979 teams in the first quarter of 2016. “Average freight revenue per tractor per week increased to $3,755 during the 2017 quarter from $3,721 during the 2016 quarter.  Average freight revenue per total mile increased by 0.5 cents per mile (or 0.3%) compared to the 2016 quarter and average miles per tractor per week increased by 0.6%.  A factor contributing to increased year-over-year utilization was a 180 basis point increase in the percentage of our fleet comprised of team-driven trucks. “At SRT, our solo-driven refrigerated truckload subsidiary, miles per tractor continued to be under pressure while we re-engineer our freight network.  However, average freight revenue per total mile increased nearly 1.0% on a year-over-year basis due to lower empty miles percentage.  SRT experienced a year-over-year decline in average freight revenue per tractor of 5.0% compared with the first quarter of 2016, on one less calendar day.  SRT experienced a fifth consecutive quarter of operating at a loss. On a positive note, SRT’s first quarter of 2017 operating loss was the lowest since the first quarter of 2016. “Salaries, wages and related expenses increased approximately 4.0 cents per mile due primarily to a higher percentage of our fleet comprised of team-driven tractors and employee pay adjustments since the first quarter of 2016. “Capital costs (combined depreciation and amortization, revenue equipment rentals, and interest expense) increased by approximately $2.2 million. The main factors were the $2.0 million year-over-year increase in depreciation expense, primarily as a result of lowering the salvage values during the third quarter of 2016, and a $0.2 million increase in year-over-year loss on disposal of equipment, each due to the soft used truck market. In addition, revenue equipment rental expense increased $0.2 million, offset by an approximately $0.2 million decrease in interest expense. “Operations and maintenance expenses increased approximately 2.1 cents per mile due primarily due to additional tractor maintenance expense associated with extending the trade cycle of our tractors we commenced in the second half of 2016 and higher unloading expense associated with specific dedicated contracts that we have added since the first quarter of 2016. “Insurance and claims expense increased to 10.1 cents per mile in the first quarter of 2017 versus 8.7 cents per mile in the first quarter of 2016. While we experienced a decrease in frequency, the increased severity of casualty insurance claims resulted in an overall increase to expense. Our rate of chargeable accidents per million miles, as measured by the U.S. Department of Transportation, was the lowest for a first quarter over the last ten years. “Higher costs were partially offset by an overall reduction in fuel costs. Net fuel expense decreased by approximately 6.5 cents per total mile to 8.9 cents per mile in the 2017 quarter. Losses from fuel hedging transactions were $1.2 million in the 2017 quarter compared with losses of $5.0 million in the 2016 quarter. In addition, our fuel surcharge recovery was more effective during the 2017 quarter and we continue to experience improved fuel economy as we upgrade our tractor fleet.  These favorable items were partially offset by increased fuel pricing. Ultra-low sulfur diesel prices as measured by the Department of Energy averaged approximately $0.49/gallon higher in the first quarter of 2017 compared with the 2016 quarter.” Management Discussion—Non-Asset Based Logistics and Other Operations Mr. Parker offered the following comments concerning Covenant Transport Solutions, Inc. (“Solutions”), the Company’s non-asset based logistics subsidiary:  “For the quarter, Solutions’ total revenue decreased 3.4%, to $13.1 million from $13.6 million in the same quarter of 2016. Operating income was approximately $1.4 million for an operating ratio of 89.0%, compared with operating income of approximately $1.8 million and an operating ratio of 86.6% in the first quarter of 2016. In addition, our 49% equity investment in Transport Enterprise Leasing (“TEL”) contributed approximately $1.0 million of pre-tax income in the quarter compared with $0.9 million in the first quarter of 2016.” Cash Flow, Liquidity and Capitalization Richard B. Cribbs, the Company's Executive Vice President and Chief Financial Officer, added the following comments: “At March 31, 2017, we had approximately $48.9 million of borrowing availability under our revolving line of credit. At March 31, 2017, our total balance sheet debt and capital lease obligations, net of cash, were $197.9 million, and our stockholders’ equity was $235.9 million, for a ratio of net debt to total balance sheet capitalization of 45.6%.  At March 31, 2017, the discounted value of future obligations under off-balance sheet operating lease obligations was approximately $17.2 million, including the residual value guarantees under those leases, and we believe the value of the leased equipment was approximately equal to the present value of such lease obligations.  Since the end of 2016, the Company's balance sheet debt and capital lease obligations, net of cash, decreased by $10.1 million, while the present value of financing provided by operating leases decreased $1.4 million. “In the first quarter of 2017, we took delivery of approximately 140 new company tractors and disposed of approximately 74 used tractors. Our current tractor fleet plan for full-year 2017 includes the delivery of approximately 645 new company tractors, and the disposal of approximately 660 used tractors. For 2017, the average size of our tractor fleet is expected to be approximately flat as compared to 2016. Our average company tractor fleet age was 2.0 years at March 31, 2017, up from 1.7 years at March, 31, 2016, and is expected to be between 2.1 years and 2.4 years by the end of 2017. Still with a relatively young age, we believe there is significant flexibility to manage our fleet, and we plan to regularly evaluate our tractor replacement cycle and new tractor purchase requirements.” Outlook Mr. Cribbs continued: “For the remainder of 2017, our outlook is mixed. We expect the second quarter of 2017 to remain challenged by negative comparisons in freight revenue per tractor, accelerated depreciation, and higher maintenance expense and professional driver wages. These factors will be countered to some extent by year-over-year net fuel expense savings in all remaining quarters and a flattening of the negative year-over-year impact of depreciation in the second half of 2017. At SRT, we are seeing progress and have confidence in our plan and team, and we expect additional progress in the three remaining quarters of 2017 versus 2016. To the extent mandatory ELD implementation and lower truck numbers in our industry decrease effective capacity, and economic growth spurs volumes, we expect the supply-demand environment to improve later in 2017 and into 2018.  However, the timing and magnitude of these changes are difficult to predict and may be different in each of our markets. We are hopeful that these items will deliver earnings improvement for the second half of 2017 as compared to the second half of 2016. We expect operating cash flow in excess of net capital expenditures and to continue to pay down debt in 2017.” Conference Call Information The Company will host a live conference call tomorrow, April 21, 2017, at 10:30 a.m. Eastern time to discuss the quarter.  Individuals may access the call by dialing 800-351-4894 (U.S./Canada) and 800-756-3333 (International), access code CTG1.  An audio replay will be available for one week following the call at 877-919-4059, access code 82607300. For additional financial and statistical information regarding the Company that is expected to be discussed during the conference call, please visit our website at www.ctgcompanies.com/investor-relations under the icon "Earnings Info." Covenant Transportation Group, Inc. is the holding company for several transportation providers that offer premium transportation services for customers throughout the United States. The consolidated group includes operations from Covenant Transport and Covenant Transport Solutions of Chattanooga, Tennessee; Southern Refrigerated Transport of Texarkana, Arkansas; and Star Transportation of Nashville, Tennessee.  In addition, Transport Enterprise Leasing, of Chattanooga, Tennessee is an integral affiliated company providing revenue equipment sales and leasing services to the trucking industry. The Company's Class A common stock is traded on the NASDAQ Global Select market under the symbol, “CVTI”. This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended.  Such statements may be identified by their use of terms or phrases such as "expects," "estimates," "projects," "believes," "anticipates," "plans," "intends," “outlook,” and similar terms and phrases.  Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.  In this press release, the statements relating to freight demand, trucking capacity, yield initiatives, fuel hedges, equipment purchases and disposals, average fleet size, fleet age, the value of leased equipment, and the statements under “Outlook” are forward-looking statements. The following factors, among others, could cause actual results to differ materially from those in the forward-looking statements: the rates and volumes realized during our peak business during the fourth quarter, elevated experience in the frequency and severity of claims relating to accident, cargo, workers' compensation, health, and other claims, increased insurance premiums, fluctuations in claims expenses that result from our self-insured retention amounts, including in our excess layers and in respect of claims for which we commute policy coverage, and the requirement that we pay additional premiums if there are claims in certain of those layers, differences between estimates used in establishing and adjusting claims reserves and actual results over time, adverse changes in claims experience and loss development factors, or additional changes in management's estimates of liability based upon such experience and development factors that cause our expectations of insurance and claims expense to be inaccurate or otherwise impacts our results; changes in the market condition for used revenue equipment and real estate that impact our capital expenditures and our ability to dispose of revenue equipment and real estate on the schedule and for the prices we expect; increases in the prices paid for new revenue equipment that impact our capital expenditures and our results generally; changes in management’s estimates of the need for new tractors and trailers; the effect of any reduction in tractor purchases on the number of tractors that will be accepted by manufacturers under tradeback arrangements; our inability to generate sufficient cash from operations and obtain financing on favorable terms to meet our significant ongoing capital requirements; our ability to maintain compliance with the provisions of our credit agreements, particularly financial covenants in our revolving credit facility; excess tractor or trailer capacity in the trucking industry; decreased demand for our services or loss of one or more of our major customers; our ability to renew dedicated service offering contracts on the terms and schedule we expect; surplus inventories, recessionary economic cycles, and downturns in customers' business cycles; strikes, work slowdowns, or work stoppages at the Company, customers, ports, or other shipping related facilities; increases or rapid fluctuations in fuel prices, as well as fluctuations in hedging activities and surcharge collection, including, but not limited to, changes in customer fuel surcharge policies and increases in fuel surcharge bases by customers; the volume and terms of diesel purchase commitments and hedging contracts; interest rates, fuel taxes, tolls, and license and registration fees; increases in compensation for and difficulty in attracting and retaining qualified drivers and independent contractors; seasonal factors such as harsh weather conditions that increase operating costs; competition from trucking, rail, and intermodal competitors; regulatory requirements that increase costs, decrease efficiency, or reduce the availability of drivers, including revised hours-of-service requirements for drivers and the Federal Motor Carrier Safety Administration’s Compliance, Safety, Accountability program that implemented new driver standards and modified the methodology for determining a carrier’s DOT safety rating; the ability to reduce, or control increases in, operating costs; changes in the Company’s business strategy that require the acquisition of new businesses, and the ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; fluctuations in the results of Transport Enterprise Leasing, which are included as equity in income (loss) of affiliate in our financial statements; the number of shares repurchased, if any; the effects of repurchasing the shares on debt, equity, and liquidity; the effects of repurchasing no or a nominal number of shares; and the ultimate uses of repurchased shares, if any.  Readers should review and consider these factors along with the various disclosures by the Company in its press releases, stockholder reports, and filings with the Securities and Exchange Commission.  We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information.


Patent
Transportation Group | Date: 2016-10-20

A system and method for optimizing vehicle capacity utilization in package delivery is provided. Discounts are generated for potential customers along a delivery route are determined and sent to the customers. If the offer is accepted the vehicle route is modified to enable pickup of the packages.


Patent
Transportation Group | Date: 2016-06-20

A package sorting system is described that can be used to efficiently sort and pack Ropak containers for transporting packages from a sorting facility to a destination facility. The package sorting system can determine a particular Ropak container to place the package in as well as determine if the package was placed in the current Ropak container.


Integration of wearable technology into package delivery is provided. Wearable technology such as smart watches can enable improved delivery efficiency by using telemetry information from a telemetry device associated with a delivery vehicle with package information to deliver content to the wearable computing device. The driver can interact with the computing device to provide updates on delivers and track activity to improve costing of packages. In addition the wearable technology can facility improved customer interactions and efficiencies.

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