eliteG..............got any thoughts on this one?
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Velocity Express Corp.
One Morningside Drive North
Building B Suite 300
Westport, CT 06880
Phone: 203-349-4160
Fax: 612-941-6440
Web Site: http://www.velocityexpress.com
DETAILS
Index Membership: N/A
Sector: Services
Industry: Air Delivery & Freight Services
Full Time Employees: 1,241
BUSINESS SUMMARY
Velocity Express Corporation provides transportation and distribution/logistics services to individual consumers and businesses principally in the United States. It provides scheduled, distribution, and expedited logistics services. The company's scheduled logistics services consist of the daily pickup and delivery of parcels. Its distribution logistics services include the receipt of customer bulk shipments that are divided and sorted at metropolitan locations and delivered into multiple routes. Velocity Express' expedited logistics services consist of expedited point-to-point service for customers with time sensitive delivery requirements. Its customers operate in the commercial and office products, financial, healthcare, transportation and logistics, technology, and energy sectors. The company was formerly known as United Shipping & Technology, Inc. and changed its name to Velocity Express Corporation in January 2002, pursuant to a merger with and into Velocity Express Corporation. Velocity Express is headquartered in Westport, Connecticut.
at first I wanted to say it looks like a nice buy here...but its showing up some heavy distribution on my charts as well as I-Watch(link)
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=VEXP&range=30&mgp=0&x=14&y=15&hdate=
still its tempting...
sorry, I know not much help there.
thanks...you are alot of help
i put the link in my favorites
Great time for entry.Follow the chart.
Its due for a bounce off the ema
10 to 15% ;)
Can anybody, who is more technical comment on this ticker?
Thanks In Advance.
go to VEXP post in Stock Picking.
It is located on page two
Trading near support levels $6.7 and the *k was just filed 20 minutes ago. No formal PR is out yet on this but any news on formal closure of the delisting issue could trigger a nice short cover to $8 or $9.
I'm in at $6.7 avg, stop set at $6.5. Let's see if this baby has legs.
BB
where did you see that?
http://biz.yahoo.com/e/050715/vexp8-k.html
Notice of Delisting or Transfer
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard.
On July 11, 2005 Nasdaq contacted the Company regarding the Company's compliance with certain Marketplace Rules. On May 2, 2005, Velocity Express Corporation, a Delaware corporation (the "Company"), submitted a Listing of Additional Shares Notification Form to The Nasdaq Stock Market ("Nasdaq") relative to the Company's sale of a Series N Convertible Preferred Stock (the "Series N Preferred") through a private placement. Subsequently, Nasdaq notified the Company that the sale of the Series N Preferred violated Marketplace Rule 4305(i)(1)(D) (the "Rule") concerning the need for prior shareholder approval of the issuance of securities under certain circumstances. In response, the Company provided to Nasdaq agreements from the investors in the Series N Preferred that they would not be entitled to receive any shares of Series N Preferred for payment in kind interest or anti-dilution adjustment prior to obtaining shareholder approval for such issuances. Additionally, the Company submitted an agreement from TH Lee Putnam Ventures, L.P. and its related entities stating that it would vote all of its shares in favor of approving the sale and issuance of the Series N Preferred. On July 11, 2005 Nasdaq notified the Company that based upon it submissions, the Company was in compliance with the Rule and that Nasdaq considered the matter closed.
surprised this is still in neutral.
Sorry, guys, but this isn't good news. Actually, it's bad news. There wasn't any "delisting issue" with VEXP, at least none that anyone knew about. This 8-k is the first mention of this issue that only came up on Monday (July 11, 2005). There won't be any "relief" rally at the resolution of this issue that nobody knew about -- the stock had not sold off at all since Monday.
Basically, the Nasdaq had an issue with the private placement of over 2.5 million shares of Series N stock on April 28, which was sold to some accredited investors at $3.685 per share. As specified in the April 28 private placement, VEXP had to issue an S-1 registering that stock, thus allowing the investors to sell those shares, within 60 days. They did so on June 28, but the Nasdaq had to approve this registration. Apparently, they didn't like something about it, but that is now cleared up. Now the investors can sell those shares they got at 3.685.
The June 28 S-1 wasn't just for those 2.5 million shares, but it was for 8.76 million shares. VEXP ran up a lot a couple months ago because traders thought it had a float of under 100,000. However, misinformation that showed that has now been corrected to show a float of 11.5 million. The sale of these shares will bring the float to over 20 million.
Fundamentally, VEXP just continues to burn through tons of cash, and they only keep operating by selling more shares and doing reverse splits when their price drops down. Just pull up a long-term chart. It's about as close to a scam on the public as there is.
I'd be very careful holding this one. It recently broke its uptrend and is consolidating near the lows. Combine that with these 8.76 million shares now being freed to be sold, and this thing can collapse back to pennies unless they can somehow get the volume way up to allow these shares to be unloaded. You don't want to be an "investor" in this one if the short-term trade doesn't work out...
The preceding post is an exact copy of another person's post from the yahoo boards with one added line at the end. See http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=13990409&tid=ushp&sid=13990409&mid=21601
I assume that the poster here (VikingFan) is also the original poster (alohamart from Yahoo). If not, VikingFan should make sure her properly credits the original source of this infomation since these words are not his.
Yep -- that's me.
kudos then, good post. Thanks.
short covering soon ? has support in the low 5
Rockin in the pre-market......
+35.56%......Volume @ 162,399
Nice movement in this one today.... ;D
+15.54%.........Volume @.........647,486
Some news out has seems to have it moving in the pre-market.
VELOCITY EXPRESS NEW (NasdaqSC:VEXP) Delayed quote data
Pre-Market (RT-ECN): 2.60 0.21 (8.79%)
Last Trade: 2.39
Trade Time: Dec 7
Change: 0.00 (0.00%)
Prev Close: 2.39
Open: N/A
Bid: 2.40 x 1000
Ask: 2.60 x 1000
1y Target Est: N/A
Day's Range: N/A - N/A
52wk Range: 0.14 - 18.50
Volume: 1,000
Avg Vol (3m): 248,886
Market Cap: 37.43M
P/E (ttm): N/A
EPS (ttm): -10.37
Div & Yield: N/A (N/A)
Press Release Source: Velocity Express, Inc.
Velocity Express Announces Expanded Integrated Customer Centric Strategy
Thursday December 8, 7:52 am ET
Drew Kronick, Named Executive VP, Will Head Integrated Program
WESTPORT, Conn.--(BUSINESS WIRE)--Dec. 8, 2005--Velocity Express, Inc. (NASDAQ:VEXP - News), a leading provider of time critical delivery and supply chain solutions, announced today a major expansion of its integrated customer centric business development strategy by opening a centralized, state of the art and highly automated Customer Care Center.
The Center is designed to provide world-class customer service to Velocity's customers nationwide. It was designed with the assistance of Alvarez and Marsal, and will provide Velocity clients with a single point of contact, service escalation, detailed service metric reporting, as well as traditional call center and dispatch functions.
In addition to launching its Customer Care Center, Velocity will be increasing its national business development team with the appointment of key business development executives in the Northeast, Southeast and Midwest areas. This will represent an increase of over 25% in the Company's group currently responsible for national business development.
Underscoring the new integrated customer center strategy, Vincent A. Wasik, Chairman and CEO, announced the promotion of Drew Kronick, formerly Senior Vice President of Business Development, to Executive Vice President. Mr. Kronick will be responsible for national sales, marketing and branding strategy, regional and local business development, solutions design, pricing and post sale implementation.
"We expect that the new integrated approach to servicing customers will be highly productive, since it represents an extension of our fully customer centric offering to valued clients that has proven to be extremely successful. With Drew's 20 years of experience and industry knowledge, we are extremely confident we will continue to grow our business as we consolidate responsibility under his executive leadership."
About Velocity Express
Velocity Express has one of the largest time critical nationwide networks and provides a national footprint for customers desiring same day service throughout the United States. The Company's services are supported by a customer-focused technology infrastructure, providing customers with the reliability and information they need to manage their transportation and logistics systems, including a proprietary package tracking system which provides customers the ability to view the status of any package via a flexible web reporting system.
This press release includes certain "forward-looking statements" for purposes of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially. These statements are typically preceded by words such as "believes," "expects," "anticipates," "intends," "will," "may," "should," or similar expressions. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of Velocity Express's industry and competition. Factors that may cause the Company's results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission, including its most recently filed Form 10-Q or 10-K. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this press release or to conform them to actual results.
Contact:
Velocity Express, Inc.
Wes Fredenburg, 612-337-4525
[email protected]or
Steven S. Anreder, 212-532-3232
[email protected]--------------------------------------------------------------------------------
Source: Velocity Express, Inc.
May have found us a nice little base to make a move north.
Volume: 600,275
Avg Vol (3m): 118,672
Support @ $2.38...1.90
Resistance @ $2.69...3.19...3.54
Recent CandleStick Analysis
Bullish
Jan-09-2006 Homing Pigeon
Jan-06-2006 Bearish Harami
Jan-05-2006 Bullish Engulfing
Technicals
Close Above the 13-day EMA
Percentage Gainer
Last Price Quote is:
11.86%above 13-day EMA
-9.05%below 50-day EMA
RS Rating: 5
Fundamentals
Key Data:
Market Cap (M): $33.05
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Strong Buy..........
Broke through to close above the 50-dma
Volume: 780,617
Avg Vol (3m): 126,311
Technicals
Close Above the 50-day EMA
Percentage Gainer
Last Price Quote is:
23.75%above 13-day EMA
6.63%above 50-day EMA
RS Rating: 12
Fundamentals
Key Data:
Market Cap (M): $33.05
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Strong Buy
Coming off a double bottom, Vexp looks primed for an explosive move here.
It does look intriguing.... :o
AP
Volume Spikes: TSEM VEXP MAMA NTRT MRBK
Monday October 9, 2:43 pm ET
Tower Semiconductor, Velocity Express Mamma.com Surge in Afternoon Trading
NEW YORK (AP) -- The following companies were showing unusually heavy volume in trading Monday on the Nasdaq around 2 p.m. Higher-than-normal volume can indicate increased activity by institutions such as mutual funds and insurance companies. Upward stock movement on such volume can show increased confidence among investors, while selling can signal further downward pressure on a stock.
Contract chip maker Tower Semiconductor Ltd.'s stock traded 1.1 million times, while its average daily volume is 95,700. The reason for the movement was not immediately clear. Shares rose 38 cents, or 22 percent, to $2.13.
Shares of same-day delivery service operator Velocity Express Corp. surged to trade 1.1 million times, compared to an average daily volume of 126,700 trades. The company did not release any news that would explain the movement. Shares rose 23 cents, or 12.7 percent, to $2.04 cents.
Search engine Mamma.com Inc. saw volume jump to around 1.9 million shares, compared to an average trading volume of 233,800, as shares climbed 28 cents, or 16 percent, to $2.10. The reason for the movement was not immediately clear.
Shares of NetRatings Inc. traded with unusually high volume after the VNU Group BV offered to pay $225.6 million in cash for the remaining stake of the Internet market research firm. VNU already owns 60.5 percent of NetRating's stock, and offered to buy the rest for $16 per share.
Trading volume surged to 1.9 million, from an average daily trading volume of 76,000. NetRatings shares rose $2.18, or 15 percent, to $16.75.
Shares of Mercantile Bankshares Corp. surged to trade hands 7.6 million times, from a typical volume of 322,500 trades, after PNC Financial Services Group Inc. said it will pay $6 billion in cash and stock for the Baltimore-based Mercantile. Shares of Mercantile rose $8.08, or 22 percent, to $44.86.
Nice movement here lately..... stock looks interesting
Looks like it has an upside comming
Has broke through the 200-day MA
Support @ $1.86...1.80...1.75
52wk Range: 1.17 - 4.04
Volume: 1,381,334
Avg Vol (3m): 144,405
Technicals
Percentage Gainer
MACD is Bullish
Last Price Quote is:
22.83%above 13-day MA
35.28%above 50-day MA
RS Rating: 94
Fundamentals
Key Data:
Market Cap (M): $26.30
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Strong Buy
Longer term chart looks to be showing a,
Rounding Bottom (Reversal) Pattern......
The rounding bottom is a long-term reversal pattern that is best suited for weekly charts. It is also referred to as a saucer bottom, and represents a long consolidation period that turns from a bearish bias to a bullish bias.
A rounding bottom could be thought of as a head and shoulders bottom without readily identifiable shoulders. The head represents the low and is fairly central to the pattern. The volume patterns are similar and confirmation comes with a resistance breakout. While symmetry is preferable on the rounding bottom, the left and right side do not have to be equal in time or slope. The important thing is to capture the essence of the pattern.
Press Release Source: Velocity Express Corporation
Velocity Express Launches Operations Support Service Center Dedicated to Pharmaceutical Industry
Thursday October 19, 4:10 pm ET
Senior Experienced Executives Named to Head Innovative Healthcare Focused Unit
WESTPORT, Conn.--(BUSINESS WIRE)--Velocity Express Corporation (NASDAQ:VEXP - News), the largest time definite logistics company in North America, today announced the launch of a Pharmaceutical Operations Support Service Center (POSSC) that will provide the single operating point of contact for its pharmaceutical industry customers. Velocity Express leads the industry in serving the specific needs of pharmaceutical companies nationwide.
Establishment of the POSSC, to be located in Syracuse, NY will enable Velocity Express to efficiently and proactively work with customers in the healthcare industry as their needs evolve. The POSSC will provide real-time shipment tracking, automated information reporting and service alerts to ensure that every time-specific delivery meets the customers' expectation. The POSSC will also ensure that the complete supply chain, including line haul, C II shuttle work and local delivery service, meets the highest standard of excellence.
Effective immediately, Roy Liller has been named Vice President, Healthcare Services and Howard Bryerton will assume the role of Director, Healthcare Services. Both Mr. Liller and Mr. Bryerton were formerly with CD&L, Inc. prior to its merger with Velocity in August and have significant experience in the transportation industry and the pharmaceutical arena specifically. Previously, Mr. Liller was Vice President, Healthcare Logistics for CD&L, Inc., and also had prior leadership positions with TNT Red Star Express, Ryder and Pennsylvania Truck Lines, Inc.
Mr. Bryerton, who joined CD&L approximately a year ago as Customer Support Manager, previously spent over 11 years in management positions of progressively greater responsibility with Cardinal Health, where he focused on customer service, operations and information systems.
"This is a substantial customer-centric initiative for Velocity and for our important pharmaceutical clients. We now have a seasoned seven person team to provide unparalleled customer service and support to this vertical market," said Mr. Liller. "Our customers will enjoy one central point of contact and an effective communications platform with senior individuals having immense knowledge of their business and the industry within which they operate."
Dave Nitzel, Velocity Express Senior Vice President, Operations, added, "Our vertical markets approach is designed to continuously evaluate our customers' needs, resulting in value added solutions that will help differentiate their products and services in the marketplace. With the establishment of the Pharmaceutical Operations Support Service Center, and the previously announced Financial Institution team, we at Velocity Express are dedicated to creating innovative customer relationship management programs which will create tangible results for our clients."
Velocity Express Corporation
Velocity Express is the largest time definite logistics company in North America, with more than $440 million in annual revenues and 5,500 independent contractor drivers, operating from 150 locations in leading markets across the United States and Canada. The Company's services are supported by a customer-focused technology infrastructure, providing customers with the reliability and information they need to manage their transportation and logistics systems, including a proprietary package tracking system that enables customers to view the status of any package via a flexible web reporting system. Visit www.velocityexpress.com for more information.
Certain statements in this release may be "forward-looking statements" within the meaning of Section 27A of the Securities and Exchange Act of 1933, such as the ability of the Company to expand its strategic alliances with financial institutions. Statements regarding future developments are based on current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements. Such risks include the risks attendant on offering any new service, developing and introducing new technology, and other risks and uncertainties which are more fully described in the company's filings with the SEC, including the risk factors in its Form 10-K/A for the fiscal year ended July 1, 2006.
Contact:
Velocity Express Corporation
Edward W. (Ted) Stone, 203-349-4199
[email protected]or
Anreder & Co.
Steven S. Anreder, 212-532-3232
[email protected]--------------------------------------------------------------------------------
Source: Velocity Express Corporation
Press Release Source: Velocity Express Corporation
Velocity Express Management To Purchase 1,000,000 Treasury Shares at $1.10, a 69% Premium to the June 15 Closing Price
Monday June 18, 9:50 am ET
WESTPORT, Conn.--(BUSINESS WIRE)--Velocity Express Corporation (NASDAQ: VEXP - News), the nation's largest provider of time definite regional delivery solutions, announced that members of management and its key advisors, led by its Chairman & Chief Executive Officer, President & Chief Operating Officer, Executive Vice President & Chief Financial Officer and Alvarez & Marsal Business Consulting LLC, will purchase one million (1,000,000) shares of Velocity Express Treasury Common Stock at the greater of $1.10 per share or the market price on the day prior to the purchase date. The Company expects to receive the proceeds over the next several weeks and purchases will be subject to the Company and the purchasers entering into customary documentation.
Velocity Express Chairman and CEO, Vince Wasik stated, "Velocity is poised to deliver improved EBITDA and working capital, and management as well as our advisors have expressed considerable interest and enthusiasm in participating more actively in the potential for equity appreciation. Management will purchase shares at a level consistent with the price of our last capital raise conducted in conjunction with the CD&L acquisition, and I will personally be the largest participant. Management's purchase of shares at a level well above the current market price is obviously a vote of confidence in the future success of Velocity."
About Velocity Express
Velocity Express has one of the largest time definite nationwide delivery networks, providing a national footprint for customers desiring same day service throughout the United States. The Company's services are supported by a customer-focused technology infrastructure, providing customers with the reliability and information they need to manage their transportation and logistics systems, including a proprietary package tracking system that enables customers to view the status of any package via a flexible web reporting system.
Forward Looking Statements
Certain statements in this press release, and other written or oral statements made by or on behalf of the Company, may constitute "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and the Company's future performance that are not historical facts, as well as management's expectations, beliefs, plans, objectives, assumptions and projections about future events or future performance, are forward looking statements within the meaning of these laws. Forward-looking statements include statements that are preceded by, followed by, or include words such as "believes," "expects," "anticipates," "plans," "estimates," "intends," or similar expressions. Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on beliefs and assumptions of the Company's management, which in turn are based on currently available information. These assumptions could prove inaccurate. Forward-looking statements are also affected by known and unknown risks that may cause the actual results of the Company to differ materially from any future results expressed or implied by such forward-looking statements. Many of these risks are beyond the ability of the Company to control or predict. Such factors include, but are not limited to, the following: we may never achieve or sustain profitability; we may not be successful in integrating CD&L and may fail to achieve the expected cost savings from the CD&L acquisition, including due to the challenges of combining the two companies, reducing overlapping functions, retaining key employees and other related risks; we may be unable to fund our future capital needs, and we may need funds sooner than anticipated; our large customers could reduce or discontinue using our services; we may be unable to successfully compete in our markets; we could be exposed to litigation stemming from the accidents or other activities of our drivers; we could be required to pay withholding taxes and extend employee benefits to our independent contractors; we may not be able to satisfy the financial covenants contained in our credit agreement and indenture; risk relating to maintaining the financing under our credit agreement; we have a substantial amount of debt and preferred stock outstanding, and our ability to operate and financial flexibility is limited by the agreements governing our debt and preferred stock; we may be required to redeem our debt at a time when we do not have the proceeds to do so; our stock price is subject to fluctuation and volatility; future issuances, or the perception of future issuances, of our common stock may depress the price of the shares of our common stock; the issuance of additional equity securities could trigger the antidilution provisions of our outstanding preferred stock and warrants; and the risk of delisting from Nasdaq because, on May 17, 2007, the bid price of our common stock was below the Nasdaq requirement of $1 per share; and the other risks identified in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended June 30, 2006 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, as well as in the other documents that the Company files from time to time with the Securities and Exchange Commission. Management believes that the forward-looking statements contained in this release are reasonable; however, undue reliance should not be placed on any forward-looking statements contained herein, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and management undertakes no obligation to publicly update any of them in light of new information or future events.
Contact:
Velocity Express Corporation
Edward W. (Ted) Stone, 203-349-4199
[email protected]or
Institutional Marketing Services (IMS)
John G. Nesbett, 203-972-9200
[email protected]--------------------------------------------------------------------------------
Source: Velocity Express Corporation
"VEXP" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. :( ::)
Thank You....and good luck with all your trades....make some $$$ ;) ;D
Buy Again (Long Recommendation)....... ;)
Wish I could have bought it yesterday,
I think she is headed back to a $1.40 +
52wk Range: 0.60 - 2.14
Volume: 400,159
Avg Vol (3m): 152,383
Technicals
Percentage Gainer
Last Price Quote is:
24.15%above 13-day MA
-1.95%below 50-day MA
RS Rating: 5
Fundamentals
Key Data:
Market Cap (M): $19.15
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Strong Buy
When you least expect it...something crazy will happen !
52wk Range: 0.27 - 19.35
Volume: 1,049,300
Avg Vol (3m): 17,351.5
Technicals
Percentage Gainer
Last Price Quote is:
178.33%above 13-day MA
38.44%above 50-day MA
RS Rating: 10
Fundamentals
Key Data:
Market Cap (M): $0.98
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Strong
WESTPORT, Conn., Jun 25, 2008 (BUSINESS WIRE) -- Velocity Express Corporation (VEXP, Trade), the leading provider of time definite delivery and logistics solutions in the United States, announced today that they have been awarded a multi-year contract valued in excess of $30 million to service Stage Stores, Inc's, Peebles brand stores throughout the Midwest, Northeast and Southeast. Velocity will be providing a total transportation solution which will include daily store replenishment and vendor inbound transportation services to 310 Peebles stores.
Stage Stores, Inc., based in Houston, Texas, brings nationally recognized brand name apparel and accessories, cosmetics and footwear to small and midsize towns throughout the United States. From more than 715 stores, the company operates under the "Bealls," "Palais Royal" and "Stage" name throughout the South Central and Southwestern states and under the "Peebles" name throughout the New England, Mid Atlantic, Southeastern and Midwestern states.
Gough Grubbs, SVP Distribution and Logistics for Stage Stores, commented, "We are very excited about our new partnership with Velocity Express. We believe that Velocity's extensive network across our regions, strength of their retail management team, and their retail IT platform make them an excellent long term partner."
Vincent Wasik, CEO of Velocity Express, stated, "We have worked very hard over the last few years to build the infrastructure, management team and IT systems that support the increasing demands of the top retailers in the United States. Our new agreement with Stage is confirmation that the top retailers recognize the value that Velocity brings to this business segment. Stage operates one of the most efficient supply chain networks in the United States, and we are very proud to be associated with Stage."
About Velocity Express
Velocity Express has one of the largest, time-definite nationwide delivery networks, providing a national footprint for customers desiring same day service throughout the United States. The Company's services are supported by a customer-focused technology infrastructure that provides customers with the reliability and information they need to manage their transportation and logistic systems. Velocity uses a proprietary package tracking system that enables customers to review the status of any package via a flexible web reporting system.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and the Company's future performance that are not historical facts are forward looking statements within the meaning of these laws. These forward-looking statements include the fact that a multi-year contract valued in excess of $30 million has been awarded and the fact that the Company's retail IT platform makes it an excellent long-term partner. Forward-looking statements are affected by known and unknown risks that may cause the actual results of the Company to differ materially from any future results expressed or implied by such forward-looking statements. Many of these risks are beyond the ability of the Company to control or predict. Such risks include, but are not limited to, the following: the risk that the multi-year contract may be terminated prior to its scheduled expiration and the risk that the Company's retail IT platform may fail to satisfy retail customer requirements; and the other risks identified in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended June 30, 2007 and its Quarterly Report on Form 10-Q for the quarter ended March 29, 2008, as well as in the other documents that the Company files from time to time with the Securities and Exchange Commission. Management believes that the forward-looking statements contained in this release are reasonable; however, undue reliance should not be placed on any forward-looking statements contained herein, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and management undertakes no obligation to publicly update any of them in light of new information or future events.
SOURCE: Velocity Express Corporation
Velocity Express Corporation
Edward W. (Ted) Stone, 203-349-4199
[email protected] or
Institutional Marketing Services (IMS)
John G. Nesbett/Jennifer Belodeau
203-972-9200
[email protected] Copyright Business Wire 2008
WESTPORT, Conn., Jun 25, 2008 (BUSINESS WIRE) -- Velocity Express Corporation (VEXP, Trade) announced that, because the Company's common stock price closed below $1.00 for thirty consecutive business days, it received a notice on June 19, 2008 from the NASDAQ Stock Market that it is not in compliance with Marketplace Rule 4310(c)(4) regarding the minimum bid requirement for the continued listing of its common stock on the Nasdaq Capital Market.
The Company will have 180 calendar days until December 16, 2008 to regain compliance with the minimum bid requirement which will require that the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. If the Company is unable to demonstrate bid price compliance by December 16, 2008 but is found to meet all other initial listing requirements for the NASDAQ Capital Market, it may receive an additional 180-day compliance period. If the Company does not meet compliance requirements within the second 180-day period, NASDAQ will notify the Company that its common stock will be delisted. At that time, the Company may appeal the decision to a NASDAQ Listing Qualifications Panel.
In the meantime, Velocity stock will continue to trade on the same NASDAQ Capital Market as it trades today. Some websites and media that publish stock prices may add a suffix to the VEXP stock symbol but these designations have no effect on the trading of the stock.
The Company is actively evaluating and pursuing several options to enable it to maintain its listing with NASDAQ. In particular, Velocity Express Chairman and CEO, Vincent Wasik stated, "We are on track to meet our guidance for positive EBITDA in the June quarter and we are excited by the growth opportunities we see in our sales pipeline for retail store replenishment and healthcare products delivery. Likewise, the successful restructuring in May of our Senior Secured Notes Due 2010 shows the confidence of our lenders in the Company's future success."
SOURCE: Velocity Express Corporation
Velocity Express Corporation
Edward W. (Ted) Stone, 203-349-4199
[email protected] or
Institutional Marketing Services (IMS)
John G. Nesbett, 203-972-9200
[email protected] Copyright Business Wire 2008
Shares of Velocity Express Gain Over 200% on $30M Multiyear Contract...
Wednesday's session was a bit mum while many awaited the
Fed's decision on interest rates. Most felt that the Fed needed
to raise the rates to stay ahead of the inflation curve but knew
they wouldn't. With that in mind, that same group was more
concerned with the rhetoric and the Fed's outlook going forward.
They were pleased with the talk at first. "Downside growth risks have
diminished somewhat and upsides risks to inflation expectations have risen"
were the magic words that investors wanted to hear. Defending the dollar and controlling
inflation would seem to be on the Fed's agenda going forward. But they also added into that
rhetoric that "The committee expects inflation to moderate later this year". With somewhat
contradictory statements, many felt the Fed could be just jawboning to buy some time. Even
so, following the news, the Dow jumped over 50 points before beginning an afternoon consolidation
on fears that the Fed may not actually follow through on its stance.
One name in the small cap space also reported offsetting news to investors. Velocity Express
Corporation (VEXP) is engaged time-definite nationwide delivery networks, providing
a national footprint for customers desiring same day service throughout the United States.
The Company's services are supported by a customer-focused technology infrastructure that
provides customers with the reliability and information they need to manage their transportation
and logistics systems. Velocity uses a proprietary package tracking system that enables
customers to review the status of any package via a flexible web reporting system.
Before the bell, the Company announced that its Nasdaq listing was in jeopardy following its
common stock trading below $1.00 for 30 consecutive business days. The Company will have
180 calendar days until December 16, 2008 to regain compliance with the minimum bid requirement
which will require that the bid price of the Company's common stock close at $1.00
per share or more for a minimum of 10 consecutive business days.
The Company's CEO did note that they were on track to meet guidance for positive EBITDA
in the June quarter and were excited about the sales pipeline.
Thirty minutes after announcing the Nasdaq delisting notice and the comments from the CEO,
the Company reported that it had been awarded a multi-year contract valued in excess of $30
million to service Stage Stores, Inc's, Peebles brand stores throughout the Midwest, Northeast
and Southeast. Velocity will be providing a total transportation solution which will include
daily store replenishment and vendor inbound transportation services to 310 Peebles stores.
Following the news, shares exploded over the $1.00 threshold and gained over 214% on the
day to close at $1.10. Over 1 million shares traded. With the positive news, shares would
need to hold that 1.00 level to keep their Nasdaq listing and with so many entering the name
evident by the volume and the limited number outstanding (2.83 million), the name is certainly
one to follow. Investors would be wise to watch.
Changed Ticker Symbol
VEXP is no longer valid. It has changed to VEXPQ.PK
The ugly chart...