Atlas World Group's First Quarter Net Income Takes Leap Over First Quarter '99


July 1, 2000


EVANSVILLE, (Ind.) - Net income for Atlas World Group (AWG), holding company for Atlas Van Lines, took a notable jump during first quarter 2000 over the same period one year ago, according to a recent report issued by AWG Chairman and CEO Mike Shaffer. The report reveals that the holding company's net income of $261,000 for the quarter ending March 31, 2000 overshadows a $69,000 loss reported for the same quarter one year earlier.

According to Shaffer, revenues generated by Atlas Van Lines were the primary factor driving this year's significant rise in AWG's first quarter net income. Both of Atlas Van Line's operating divisions showed significant revenue increases during first quarter 2000. The Relocation Services Group, which transports household goods, drew a 14.9 percent increase this year over first quarter 1999 revenues. Atlas' Specialized Transportation Group, which carries commercial and high-value products, finished first quarter 2000 with a 37 percent revenue increase over the same quarter last year.

"The first quarter increase in the Relocation Services Group came primarily from business generated by existing Atlas agents," Shaffer remarks. "But most of Specialized Transportation's 37 percent revenue increase resulted from our 22 new locations - twelve new branches of existing agents plus ten new agents in 1999."

"The first quarter increase in the Relocation Services Group came primarily from business generated by existing Atlas agents," Shaffer remarks. "But most of Specialized Transportation's 37 percent revenue increase resulted from our 22 new locations - twelve new branches of existing agents plus ten new agents in 1999."

Based on advance registrations, Atlas this year expects the busiest summer moving season in the company's 52-year history. The 1999 peak household goods moving season - which runs from May 15 until August 31 -- was also a record breaker for Atlas Van Lines.

With its world headquarters in Evansville, Ind., Atlas World Group is the holding company for Atlas Van Lines, a major transporter of household goods and special products through some 600 agents across the U.S. and Canada, and nearly 800 worldwide. Atlas is the nation's fourth-largest van line and ranks as third-largest carrier of household goods.

This summer, Atlas personnel based at world headquarters in Evansville, Indiana, are in the process of moving office operations to a new headquarters building recently completed on existing Atlas property.

 

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