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John D Mccown News

05 Aug 2004

Trailer Bridge Reports 2Q Results

Trailer Bridge, Inc. reported the financial results for the second quarter ended June 30, 2004 (see attached table), highlighted by net income of $988,823, a $1.7 million improvement compared to the second quarter of 2003, and a 7.9% increase in total operating revenues. Total revenue for the three months ended June 30, 2004 was $24,102,899, an increase of $1,769,672, or 7.9%, compared to the second quarter of 2003 and an increase of $1,194,169, or 5.2%, sequentially compared to the first quarter. The effective revenue per container equivalent of all of the southbound cargo represented an increase of 6.0% from the year earlier period and an increase of 1.9% compared sequentially to the first quarter.

21 May 2002

Trailer Bridge Finalizes Senior Loan Amendment

Trailer Bridge, Inc. announced the execution of an amendment to its financing agreement with GE Capital and the addition of four new members to the Company’s Board of Directors. The amendment with GE Capital waives past non-compliance with certain covenants and establishes new financial covenants that the Company is confident it will remain in compliance with. Trailer Bridge has a $15 million revolving credit facility, with actual draws determined by a borrowing base formula. At March 31, 2002, the amount outstanding under this facility was $4.7 million. The Company also has approximately $10.3 million outstanding under a term loan facility with GE Capital. The Company also announced that Peter S. Shaerf has joined the board and that Malcom P. McLean, Jr., Greggory B. Mendenhall and F.

23 Jul 2002

Trailer Bridge Awarded U.S. Patent

Trailer Bridge, Inc. announced that the United States Patent and Trademark Office (USPTO) awarded Patent No. 6,416,264 on July 9, 2002 to Trailer Bridge as assignee for its invention known as the Vehicle Transportation Module® (VTM®). The inventors are Ralph W. Heim, J. Edward Morley and P.W. Shahani. Heim is President and Chief Operating Officer of Trailer Bridge and Morley is Vice President of Operations. Shahani is a consulting engineer who has provided services to the Company. The VTM® container is a module for receiving motorized vehicles for transportation that interchanges easily between transport modes without the necessity of re-handling the vehicles.

16 May 2005

Trailer Bridge Net Income Soars

Trailer Bridge, Inc. reported the financial results for the first quarter ended March 31, 2005, highlighted by net income of $975,801, a $616,643, or a 171.7% improvement compared to the first quarter of 2004. Total revenue for the three months ended March 31, 2005 was $24,365,534, an increase of $1,456,804, or 6.4% compared to the first quarter of 2004. Total southbound volume decreased 4.0% compared to the year earlier period. This decrease was driven by reduced used car volume, while southbound container volume increased 0.4% compared to the year ago quarter. Northbound, total volume decreased 27.1% from the year ago period, driven by reduced used car and military shipments.

14 Nov 2007

Trailer Bridge to be Awarded U.S. Patent

Trailer Bridge, Inc. (NASDAQ: TRBR) announced that it has been notified by the United States Patent and Trademark Office (USPTO) that the Company has received a notice of allowance for its patent application related to the process of loading and unloading containers on its Triplestack Box Carrier™ vessels. Trailer Bridge as assignee had initially applied for this patent in April 1998 and the application has been amended several times following review by the USPTO. The patent is expected to be formally awarded within three months of payment of an administrative fee to the USPTO. The inventors of the patent are John D. McCown, Chairman & Chief Executive Officer of Trailer Bridge and Malcom P. McLean, the late founder of the Company.

13 Aug 2002

Trailer Bridge to Remain on Nasdaq National Market

Trailer Bridge, Inc. has been notified by the Nasdaq Listing Qualifications Panel that, based upon a transaction it finalized today, it has regained compliance with Nasdaq’s maintenance standards and its common stock will continue to be listed on The Nasdaq National Market. Upon receipt of the favorable decision of the Nasdaq Listing Qualifications Panel, Trailer Bridge completed the exchange of $20,378,615 of inter-company debt, the entire amount outstanding at March 31, 2002, to its affiliate Kadampanattu Corp. (“K Corp.)” into non-convertible preferred stock. The exchange had been previously approved by both companies’ boards of directors and was conditioned solely upon a favorable response from the Nasdaq Listing Qualifications Panel.

05 Aug 2003

Letter to the Editor

Clayton Cook's article on the U.S. shipbuilding market was a thoughtful review, as one would expect from such a knowledgeable source whose contribution and commitment to the marine sector is well known. His review of the non-contiguous liner trades characterized the Puerto Rico fleet as "antique," and accurate description of the self-propelled vessels serving the trade. That section, however, did not mention the tug/barges now serving the Puerto Rico lane. Today the majority of the marine freight moving between the mainland and Puerto Rico moves on tug/barge systems. These tug/barge systems are newer than the self-propelled vessels. In our own case, the weighed average age of our fleet is some six years or one-fifth that of the self-propelled vessels in the trade.

09 Jun 2003

Trailer Bridge Wins Award

Trailer Bridge, Inc. announced that Jay Thomassen, Director, Corporate Sales, is the recipient of the 2003 Malcom P. McLean Innovative Spirit Award. The Company recognized Mr. Thomassen at its annual stockholders' meeting, which took place May 28th at Trailer Bridge's corporate headquarters in Jacksonville, FL. The award, in honor of the late founder of Trailer Bridge who was the leading transportation innovator of the 20th century, is given each year at the Annual Meeting to that employee whose innovative and persistent efforts particularly benefited the Company. In his remarks presenting the award for 2003, John D. McCown, Trailer Bridge's Chairman & CEO, stated, "Jay has responsibility for some of the largest accounts within the Trailer Bridge system.

16 Jul 2001

Study Culminates In New Tug Contracts

Following a detailed six-month study assessing its contract towing requirements, Trailer Bridge, Inc. signed separate long-term agreements that match the best marine power units in the market with the company's vessel assets. In March 2001 Trailer Bridge finalized a long-term agreement with Moran Towing Corporation to exclusively utilize Moran's Heidi class 4,350 horsepower tugs to pull all four of the TBC's currently deployed by Trailer Bridge. This decision followed the excellent results produced through the Company's use of two Heidi class tugs. The Company's TBC vessels are utilized for weekly services between Jacksonville, FL and San Juan, PR, as well as Newark, NJ and San Juan, PR.

16 Aug 2001

Trailer Bridge Study Culminates In New Tug Contracts

Following a detailed six-month study assessing its contract towing requirements, Trailer Bridge, Inc. signed separate long-term agreements that match the best marine power units in the market with the company's vessel assets. In March 2001 Trailer Bridge finalized a long-term agreement with Moran Towing Corporation to exclusively utilize Moran's Heidi class 4,350 hp tugs to pull all four of the TBC's currently deployed by Trailer Bridge. This decision followed the excellent results produced through the company's use of two Heidi class tugs. The company's TBC vessels are utilized for weekly services between Jacksonville, Fla., and San Juan, PR, as well as Newark, NJ and San Juan, PR.

23 Sep 2005

Gawrysh Named VP, Inlnad Ops

Trailer Bridge, Inc. announced that Adam E. Gawrysh, Jr., 38, has been promoted to Vice President, Inland Operations. His previous position at Trailer Bridge was Director, Trucking Operations. This is a newly created position and Mr. Gawrysh will take on additional responsibilities related to Trailer Bridge’s inland operations. With this addition, the Company now has eight officers with an average tenure of twelve years. Trailer Bridge was founded thirteen years ago. Mr. Gawrysh has been employed at Trailer Bridge since 1992. He has managed Trailer Bridge’s trucking and inland operations since 2000 and before that served in various sales capacities for the Company. Mr. Gawrysh earned a Bachelor of Science degree from Western Illinois University in 1988.