Stonepath Reports 4Q Loss; Files Amended 2004 Statements

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ogistics firm Stonepath Group reported a net fourth-quarter loss of $6 million or 15 cents a share, compared with net earnings of $1.7 million or 4 cents a year earlier.

Stonepath also said it had filed amended 10-Q quarterly statements with the Securities and Exchange Commission for the first and second quarters of 2004.

The company had said in November it would delay filing third-quarter earnings until it finished amendments to its 2003 and 2004 first-half earnings.

Stonepath’s fourth-quarter revenue rose to $110.7 million from $69.7 million the previous year. Its quarterly earnings were affected by a restructuring charge of $4.4 million, the company said.

For the full year 2004, Stonepath said it lost $13 million or 33 cents a share, compared with a loss of $800,000 or 3 cents a year earlier.

Full-year revenue rose to $367.1 million from $220.1 million a year earlier.