Janel acquires ELFS; 2020 revenue $68.9M, net income $2.93M; H1 2021 net income $1.99M

JANEL CORP

Audited 2020: service revenue $68.9M (down 16% from $81.5M in 2019), net income $2.93M (up 87% from $1.56M).
Unaudited H1 2021: revenue $36.7M (+4% YoY), net income $1.99M (down 14% from $2.33M in H1 2020).
Trucking revenue 2020: $45.9M (67% of total); air freight $8.9M; warehousing $4.2M.
At June 30, 2021: cash $1.46M, members' equity $8.43M, line of credit zeroed; total debt $2.06M.
ELFS is a logistics provider with offices in TX, LA, CO, OK; acquisition closed prior to this filing.

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