Atlas World Group Doubles Revenues in Five Years; 2000 Net Income Increases 19 Percent Over 1999

April 30, 2001

EVANSVILLE, (Ind.) -- Numbers just released by Atlas World Group (AWG) in Evansville reveal consolidated revenues during 2000 exceeding the previous year's totals by 16.2 percent and nearly doubling consolidated revenue figures reported by the company five years ago. Chief Financial Officer Howard Parker recently announced that AWG's consolidated revenues for 2000 reached $607 million.

The company's net income totaled $10.6 million - a 19 percent increase over 1999 and an increase of 70 percent over net income totals reported in 1994. "The company had a remarkable year, but this didn't take place overnight," Parker comments. "For more than a decade we have operated very carefully with the objective of reducing debt and increasing equity. As a result, we have succeeded in achieving a strong financial position."

Atlas' financial report reveals that growth in revenues and profitability for AWG during 2000 originated mainly from Atlas Van Lines' two divisions: Relocation Services Group (formerly known as the Household Goods Division) and Specialized Transportation Group (STG), formerly known as the Special Products Division. Atlas STG handles the transport of sensitive or high-value goods, tradeshow exhibits, new furniture and fixtures.

The report also illustrates that 2000 revenue increases combined with an operating ratio more favorable than that of 1999 resulted in an 18.5 percent rise in operating earnings for AWG, which translates to a $3.4 million increase in operating earnings during 2000.

Atlas' Relocation Services Group (RSG) pushed up revenues by $46.6 million during 2000, showing an increase of nearly 14 percent over 1999. Atlas STG increased revenues by $30.5 million during 2000 - a jump of more than 50 percent over 1999 revenues.

Household goods (HHG) business for Atlas has consistently taken a more measured climb. Last year, the total number of Atlas Van Lines' household goods shipments increased seven percent over 1999 with numbers in excess of 106,000 domestic HHG shipments (residential moves). HHG tonnage for the year exceeded 910 million pounds - an 8.4 percent increase over the previous year. Some 40 percent of Atlas' HHG shipments during 2000 took place during the peak moving season, May 15 through August 31.

Now in its 53rd year, Atlas Van Lines and its holding company, Atlas World Group, last September dedicated a new world headquarters building in Evansville, Ind. Atlas Van Lines is the nation's third-largest carrier of household goods and ranks as fourth-largest carrier overall with some 600 agents across the United States and nearly 800 worldwide. Atlas World Group's subsidiaries include Atlas Van Lines, Atlas Van Lines International, Atlas Van Lines Canada, Ltd., and Red Ball Corporation and its subsidiaries, which include Red Ball International.