SCS Transport (NASDAQ:SCST)
Historical Stock Chart
From May 2019 to May 2024
SCS Transportation, Inc. (NASDAQ: SCST) today announced
that its Board of Directors has decided to explore a range of
strategic alternatives to enhance shareholder value. Morgan Keegan &
Company, Inc. has been retained as financial advisor to advise the
Board in this process.
The Company noted that there can be no assurance that the
exploration of strategic alternatives will result in a transaction.
The Company does not intend to disclose developments with respect to
the exploration of strategic alternatives unless and until the Board
of Directors has approved a specific transaction or course of action.
SCS Transportation, Inc. provides trucking transportation and
supply chain solutions to a broad base of customers across the United
States. With annual revenue of $1.1 billion, the Company focuses on
regional and interregional less-than-truckload (LTL), and selected
truckload (TL) and time-definite services. Operating subsidiaries are
Saia, a multi-region LTL carrier based in Duluth, Ga., and Jevic, a
hybrid LTL and truckload carrier based in Delanco, N.J. Headquartered
in Kansas City, Mo., SCST has approximately 9,000 employees
nationwide.
The Securities and Exchange Commission encourages companies to
disclose forward-looking information so that investors can better
understand the future prospects of a company and make informed
investment decisions. This news release contains these types of
statements, which are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate," "estimate," "expect," "project,"
"intend," "may," "plan," "predict," "believe" and similar words or
expressions are intended to identify forward-looking statements.
Investors should not place undue reliance on forward-looking
statements, and the Company undertakes no obligation to publicly
update or revise any forward-looking statements. All forward-looking
statements reflect the present expectation of future events of our
management and are subject to a number of important factors, risks,
uncertainties and assumptions that could cause actual results to
differ materially from those described in any forward-looking
statements. These factors and risks include, but are not limited to,
general economic conditions; the effects and outcomes of strategic
evaluations; cost and availability of qualified drivers, fuel,
purchased transportation, property, revenue equipment and other
operating assets; governmental regulations, including but not limited
to Hours of Service, engine emissions, compliance with recent
legislation requiring companies to evaluate their internal control
over financial reporting and Homeland Security; dependence on key
employees; inclement weather; labor relations; integration risks;
effectiveness of company-specific performance improvement initiatives;
competitive initiatives and pricing pressures; terrorism risks;
self-insurance claims, equity-based compensation and other expense
volatility; the Company's determination from time to time whether to
purchase any shares under the repurchase program; and other financial,
operational and legal risks and uncertainties detailed from time to
time in the Company's SEC filings.