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Janel World Trade Ltd. Reports Fiscal Second Quarter and Year-to-Date 2014 Results

JAMAICA, NY -- (Marketwired) -- 05/12/14 -- Janel World Trade, Ltd. (OTCQB: JLWT), a full-service global provider of integrated transportation logistics, announced today the financial results for its second quarter ended March 31, 2014.

Second Quarter 2014 Results

For the three months ended March 31, 2014, Janel reported revenue of $10,888,597, an increase of $768,568 or 7.6% compared to the three months ended March 31, 2013.

For the three months ended March 31, 2014 the Company reported a loss from continuing operations before income taxes of $(26,823) a $167,090 improvement when compared to the prior year reported loss from continuing operations before income taxes of $(193,913).

For the three months ended March 31, 2014 and after losses from discontinued operations the Company reported a net loss of $(40,376) or $(0.00) per fully diluted share, compared to the prior year reported net loss of $(289,060) or $(0.01) per fully diluted share.

Year-To-Date 2014 Results

For the six months ended March 31, 2014, Janel reported revenue of $21,726,294, an increase of $602,427 or 2.9% compared to the six months ended March 31, 2013.

For the six months ended March 31, 2014, after a one-time non-cash charge to SG&A of $237,492 for the issuance of stock options on October 30, 2013, the Company reported a loss from continuing operations before income taxes of $(273,102) compared to the prior year reported loss from continuing operations before income taxes of $(371,694).

For the six months ended March 31, 2014 and after losses from discontinued operations the Company reported a net loss of $(303,032) or $(0.01) per fully diluted share, compared to the prior year reported net loss of $(490,346), or $(0.02) per fully diluted share.

To be included in Janel's database for Corporate Press Releases and industry updates, investors are invited to send their e-mail address to: [email protected].

About Janel World Trade, Ltd.

Janel World Trade, Ltd. is a global provider of integrated logistics; including domestic and international freight forwarding via multi-modal carriers, leading-edge, end-to-end, supply-chain technology, customs brokerage, warehousing and distribution, and other transportation-related services. With offices throughout the U.S. (New York, Chicago, Los Angeles, and Atlanta) and a network of independent international agents in approximately 52 countries, the Company provides the comprehensive logistics services and technology necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission.

Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTCQB Bulletin Board under the symbol "JLWT". Additional information on the Company is available on its website at http://www.janelgroup.net

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.



                  JANEL WORLD TRADE LTD. AND SUBSIDIARIES
               CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

                            THREE MONTHS ENDED         SIX MONTHS ENDED
                                 March 31,                 March 31,
                         ------------------------  ------------------------
                             2014         2013         2014         2013
                         -----------  -----------  -----------  -----------
                         (unaudited)  (unaudited)  (unaudited)  (unaudited)

REVENUES                 $10,888,597  $10,120,029  $21,726,294  $21,123,867
COST AND EXPENSES:
  Forwarding expenses      9,342,994    8,600,756   18,648,933   18,075,519
  Selling, general and
   administrative          1,546,173    1,676,406    3,295,842    3,345,216
  Depreciation and
   amortization                3,817        4,769        7,589        9,538
                         -----------  -----------  -----------  -----------
    TOTAL COSTS AND
     EXPENSES             10,892,984   10,281,931   21,952,364   21,430,273
                         -----------  -----------  -----------  -----------

LOSS FROM CONTINUING
 OPERATIONS                   (4,387)    (161,902)    (226,070)    (306,406)
                         -----------  -----------  -----------  -----------
OTHER ITEMS:
  Interest expense, net
   of interest and
   dividend income           (22,436)     (32,011)     (47,032)     (60,572)
  Realized loss from
   available for sale
   securities                      -            -            -       (4,716)
                         -----------  -----------  -----------  -----------
    TOTAL OTHER ITEMS        (22,436)     (32,011)     (47,032)     (65,288)
                         -----------  -----------  -----------  -----------
LOSS FROM CONTINUING
 OPERATIONS BEFORE
 INCOME TAXES                (26,823)    (193,913)    (273,102)    (371,694)
Income taxes                       -        4,000        5,000        7,000
                         -----------  -----------  -----------  -----------
LOSS FROM CONTINUING
 OPERATIONS              $   (26,823) $  (197,913) $  (278,102) $  (378,694)
Loss from discontinued
 operations                  (13,553)     (91,147)     (24,930)    (111,652)
                         -----------  -----------  -----------  -----------
NET LOSS                 $   (40,376) $  (289,060) $  (303,032) $  (490,346)
Preferred stock
 dividends                     3,750        3,750        7,500        7,500
                         -----------  -----------  -----------  -----------
NET LOSS AVAILABLE TO
 COMMON SHAREHOLDERS     $   (44,126) $  (292,810) $  (310,532) $  (497,846)
OTHER COMPREHENSIVE LOSS
 NET OF TAX:
Unrealized gain from
 available for sale
 securities              $         -  $         -  $         -  $     1,063
                         -----------  -----------  -----------  -----------
COMPREHENSIVE LOSS       $   (44,126) $  (292,810) $  (310,532) $  (496,783)
                         -----------  -----------  -----------  -----------
(Loss) per share from
 continuing operations:
  Basic                  $         -  $     (0.01) $     (0.01) $     (0.02)
                         ===========  ===========  ===========  ===========
  Diluted                $         -  $     (0.01) $     (0.01) $     (0.02)
                         ===========  ===========  ===========  ===========
(Loss) per share from
 discontinued
 operations:
  Basic                  $         -  $         -  $         -  $         -
                         ===========  ===========  ===========  ===========
  Diluted                $         -  $         -  $         -  $         -
                         ===========  ===========  ===========  ===========
Net (loss) per share
 available to common
 shareholders:
  Basic                  $         -  $     (0.01) $     (0.01) $     (0.02)
                         ===========  ===========  ===========  ===========
  Diluted                $         -  $     (0.01) $     (0.01) $     (0.02)
                         ===========  ===========  ===========  ===========
Basic weighted average
 number of shares
 outstanding              27,710,214   21,732,192   26,442,251   21,732,192
                         ===========  ===========  ===========  ===========
Fully diuted weighted
 average number of
 shares outstanding       29,345,464   23,367,442   28,077,501   23,367,442
                         ===========  ===========  ===========  ===========

See notes to these consolidated financial statements included in the
Company's Form 10-Q



                  JANEL WORLD TRADE LTD. AND SUBSIDIARIES
                        CONSOLIDATED BALANCE SHEETS

                                                 March 31,    September 30,
                                                    2014           2013
                                               -------------  -------------
                                                (unaudited)
                                   ASSETS
CURRENT ASSETS:
  Cash and cash equivalents                    $     970,234  $     625,584
  Accounts receivable, net of allowance for
   doubtful accounts of $89,374 and $394,294,
   respectively                                    3,462,097      3,615,302
  Loans receivable - other                            39,910         42,276
  Prepaid expenses and sundry current assets         135,288         74,871
  Assets of discontinued operations                        -        305,454
                                               -------------  -------------
    TOTAL CURRENT ASSETS                           4,607,529      4,663,487
                                               -------------  -------------

PROPERTY AND EQUIPMENT, NET                           15,901         21,922
OTHER ASSETS:
  Security deposits                                   60,724         60,724
                                               -------------  -------------
    TOTAL OTHER ASSETS                                60,724         60,724
                                               -------------  -------------

TOTAL ASSETS                                   $   4,684,154  $   4,746,133
                                               =============  =============
             LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
CURRENT LIABILITIES:
  Note payable - bank                          $   1,053,234  $   1,431,336
  Accounts payable - trade                         3,062,468      3,031,135
  Accrued expenses and other current
   liabilities                                       242,184        311,369
  Liabilities of discontinued operations                   -         72,985
                                               -------------  -------------
    TOTAL CURRENT LIABILITIES                      4,357,886      4,846,825
                                               -------------  -------------

DEFERRED COMPENSATION                                 78,568         78,568
                                               -------------  -------------
    TOTAL OTHER LIABILITIES                           78,568         78,568
                                               -------------  -------------

STOCKHOLDERS' EQUITY (DEFICIENCY)                    247,700       (179,260)
                                               -------------  -------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
 (DEFIENCY)                                    $   4,684,154  $   4,746,133
                                               =============  =============

See notes to these consolidated financial statements included in the
Company's Form 10-Q

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