PHOENIX, Aug. 29, 2013 (GLOBE NEWSWIRE) -- PTA Holdings, Inc. (OTC Pink Sheets:PTAH) a multi-faceted transportation group providing a broad array of traditional transportation and management services, through its Iowa subsidiaries, announced today that its second quarter revenues are on target with earlier projections.
According to Tim Norton, VP and Director, "Our 3rd quarter revenues and profits have increased to a point where we are comfortable that revenues will increase over 20 % from that of the 2nd quarter." He further stated "As announced earlier, we have added additional tractors and trailers during the quarter that will enhance the expansion of and profitability of our Iowa and Midwest business base. Based upon the 2nd quarter of 2012, the company will see an increase of revenues of over 1000%." According to American Trucking Association (ATA) statistics, motor carriers collected $603.9 billion, or 80.9% of total revenue earned by all transport modes and as the economy continues to improve the trend is expected to continue.
About PTA Holdings, Inc. (OTC Pink Sheets:PTAH) subsidiary Kingsley Logistics Group, acquired in June of 2012, is a multi-faceted transportation group providing a broad array of traditional transportation and management services. The focus of the combined companies is to expand the company via a strategic transportation industry roll-up.
Notice on Forward-Looking Statements:
This news release includes forward-looking statements regarding PTA Holdings, Inc. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties. Forward-looking statements speak only as of the date on which they are made and PTA Holdings, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.