New delays for Trailer Bridge results

New delays for Trailer Bridge results

Trailer Bridge, Inc. on Friday announced that it is delaying the filing of financial results for first quarter ended March 31, 2004 while it awaits a final review by auditors.

The U.S.-Puerto Rico carrier late last week released its annual results for 2003, averting a delisting of its shares by Nasdaq.

Trailer Bridge, based in Jacksonville, said in an extension filing with the Securities and Exchange Commission that it expects to report first-quarter net income compared to a net loss of $2.52 million in the year-earlier quarter, citing volume and rate gains augmented by cost efficiencies resulting from new contracts.

John D. McCown, chairman and chief executive of Trailer Bridge, said, "The delay in filing our first quarter 10-Q was the result of an unusual set of circumstances related to the filing of our Form 10-K, which occurred just six days ago. We do not anticipate delays of this nature in future quarters."