Note 16 - Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information [Text Block]

16. Quarterly Financial Data (Unaudited)

XPO Logistics, Inc.

Quarterly Financial Data

	March 31,		June 30,		September 30,			December 31,
	2011		2011		2011			2011
Operating revenue	$	41,508,000	$	44,094,000	$	47,389,000		$	44,085,000
Direct expense		34,301,000		36,914,000		39,169,000			36,914,000
Gross margin		7,207,000		7,180,000		8,220,000			7,171,000
Sales, general and administrative expense		5,207,000		5,537,000		7,750,000			9,560,000
Other expense (income)		29,000		33,000		-			(6,000	)
Interest expense		49,000		47,000		49,000			46,000
Income (loss) before income tax		1,922,000		1,563,000		421,000			(2,429,000	)
Income tax provision		805,000		649,000		231,000			(967,000	)
Net income (loss)		1,117,000		914,000		190,000			(1,462,000	)
Preferred stock beneficial conversion charge and dividends		-		-		(44,586,000	)		(750,000	)
Net income (loss) available to common shareholders	$	1,117,000	$	914,000	$	(44,396,000	)	$	(2,212,000	)
Basic income per share
Net income	$	0.14	$	0.11	$	(5.38	)	$	(0.27	)
Diluted income per share
Net income	$	0.13	$	0.11	$	(5.38	)	$	(0.27	)

	March 31,		June 30,		September 30,		December 31,
	2010		2010		2010		2010
Operating revenue	$	31,642,000	$	40,340,000	$	44,448,000	$	41,557,000
Direct expense		26,043,000		33,101,000		36,309,000		35,134,000
Gross margin		5,599,000		7,239,000		8,139,000		6,423,000
Sales, general and administrative expense		4,075,000		4,598,000		5,219,000		5,062,000
Other expense		20,000		34,000		48,000		38,000
Interest expense		20,000		88,000		32,000		65,000
Income before income tax		1,484,000		2,519,000		2,840,000		1,258,000
Income tax provision		650,000		1,015,000		1,110,000		438,000
Net income	$	834,000	$	1,504,000	$	1,730,000	$	820,000
Basic income per share
Net income	$	0.10	$	0.19	$	0.21	$	0.10
Diluted income per share
Net income	$	0.10	$	0.18	$	0.21	$	0.10

	March 31,			June 30,			September 30,		December 31,
	2009			2009			2009		2009
Operating revenue	$	20,072,000		$	22,243,000		$	26,211,000	$	31,610,000
Direct expense		16,856,000			18,606,000			21,482,000		26,452,000
Gross margin		3,216,000			3,637,000			4,729,000		5,158,000
Sales, general and administrative expense		3,243,000			3,006,000			3,284,000		4,036,000
Other expense		(10,000	)		19,000			19,000		23,000
Interest expense		22,000			26,000			26,000		31,000
Income from continuing operations before income tax		(39,000	)		586,000			1,400,000		1,068,000
Income tax provision		(14,000	)		273,000			599,000		467,000
Income from continuing operations		(25,000	)		313,000			801,000		601,000
Income from discontinued operations, net of tax		30,000			(25,000	)		10,000		-
Net income	$	5,000		$	288,000		$	811,000	$	601,000
Basic income per share
Income from continuing operations	$	-		$	0.04		$	0.10	$	0.08
Income from discontinued operations		-			-			-		-
Net income		-			0.04			0.10		0.08
Diluted income per share
Income from continuing operations		-			0.04			0.10		0.07
Income from discontinued operations		-			-			-		-
Net income	$	-		$	0.04		$	0.10	$	0.07

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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