Express-1 Expedited Solutions, Inc.
AMEX: XPO
Investor Presentation
Safe Harbor
This presentation contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on
management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. These
forward-looking statements are subject to various risks and uncertainties. You can find information concerning risks and uncertainties that
could cause actual results to differ materially from those projected or suggested in the reports that we have filed with the Securities and
Exchange Commission. The forward-looking statements contained in this presentation represent our judgment as of the date of this
presentation and you should not unduly rely on such statements. Unless otherwise required by law, we undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this
presentation.
Use of GAAP and Non-GAAP Measures
In addition to results presented in accordance with generally accepted accounting principles (GAAP), the Company has included
"EBITDA", a non-GAAP financial measure. A reconciliation of EBITDA to the most directly comparable GAAP financial measure is
available on our company website, www.express-1.com. Management believes the use of non-GAAP financial measures provides useful
information to investors to assist them in understanding the underlying operational performance of the Company. Specifically, management
believes EBITDA is a useful measure of operating performance before the impact of investing and financing transactions, making
comparisons between companies' earnings power more meaningful and providing consistent period-over-period comparisons of the
Company's performance. The Company uses these non-GAAP financial measures internally to measure its ongoing business performance .
XPO Organizational Structure
Express-1, Inc.
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Non-Asset Based Expedited Transportation
Exclusive Use, Independent Contractor Fleet
High Value, Time Critical and Priority Shipments
Same Day Service
Team of 70 Employees
Buchanan, MI and Toledo, OH
2007 Revenue - $48 Million
Expedites Created by:
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Supply Chain Interruptions
Special Handling Needs
Manufacturing Constraints
JIT Inventory Demands
Absolute Dependability Needs
Bounce Logistics
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Non-Asset Based Brokerage Operation
High Growth Market Niche
Focused on Premium Transportation Solutions
Shares Customer Overlap with Express-1 and CGL
Team of 5 Employees
South Bend, IN
Start-Up, 2008 Revenues $5 Million
Targeted Customers:
 Freight Forwarders (Domestic
and International)
 Integrated Carriers
 Airlines
 3PL’s and 4PL’s
 Freight Brokers
Express-1 Dedicated
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Asset Light, Dedicated Fulfillment Operation
Supports One Primary Account – FORD
Became Highly Profitable of Late
Low Growth, High Returns
Team of 55 Employees
Evansville, IN
2007 Revenue - $5 Million
Operational Overview:
 18 Trucks with 200 Dedicated Stops
 Daily Service to FORD Dealerships
within 250 Radius of Evansville
 Cross-Dock Operation for Other
Accounts
Concert Group Logistics (CGL)
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Non-Asset Based Network of 24 Stations
Each Station Independently Owned
Not Restricted by Size, Weight, Mode or Location
Approximately 20 Employees
Downers Grove, IL
2007 Revenue - $47 Million
Common Services
(Domestic and International):
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Time Critical (Immediate, Air Charter, Expedite)
Time Sensitive (Next Day, 2nd Day, 3rd Day)
Staged Deliveries
Cost Sensitive (Deferred, Full Load)
Value Added (Documentation, Customs
Clearance, Banking Support)
Historical Highlights of XPO
• Formed Express-1 Dedicated in 2003.
Dedicated Contract Services for Ford Motor Company
• Acquired Express-1, Inc. in 2004.
Founded in 1989 by Mike Welch and Keith Avery.
19 Year History of Profitability and Growth.
• Formed Bounce Logistics in 2008.
Headed by Seasoned Management Team
High Growth Market Niche
• Acquired Concert Group Logistics (CGL) in 2008.
Founded in 2002 by Dan Para and Gerry Post.
History of Strong Growth and Profitability
Acquired Express-1, Inc.
Formed Express-1 Dedicated
Acquired Concert Group Logistics (CGL)
Formed Bounce Logistics
XPO Strategy
• Focus on Non-Asset Based
Transportation
• Provide Premium Services
Resulting in Premium Rates
• Committed to High Rate of
Organic Growth
• Compliment Organic Growth
with Select Acquisitions and
Start-ups
Strong Revenue Growth
* CAGR Includes CGL on Proforma Basis
Year End 2007 Highlights
• Consolidated Revenue Growth > 25%
• Proforma Revenue Growth > 27%
• Consolidated Operating Income Up > 30%
• Proforma Operating Income Up > 28%
• EBITDA $4.4 Million or 8.2%
• Proforma EBITDA $6.0 Million or 6.0%
Proforma results include CGL
Strong Revenue Growth
$30
$27
$26
$26
$27
$24
$22
$21
$20
$20
$21
$18
$18
$18
$17
$14.1
$13.8
$15
$11.1
$12
$9.5
$9.7
$10.9
$10.7
$13.4
$11.5
$9.6
$9
$6
$3
$-
Q3 2005
Q4 2005
Q1 2006
Q2 2006
Q3 2006
Q4 2006
($ In Millions)
Revenue Growth 18% CAGR
Q1 2007
Q2 2007
Q3 2007
Q4 2007
Proforma results include CGL
XPO Revenue
High Margins and Shrinking SG&A
50%
45%
40%
35%
30%
25%
20%
20%
18%
19%
16%
15%
14%
15%
14%
18%
18%
14% 14%
13%
18%
17%
16%
14%
12%
11%
11%
11%
10%
5%
0%
Q3 2005
Q4 2005
Q1 2006
Q2 2006
Q3 2006
Gross Margin
Q4 2006
Q1 2007
Q2 2007
Q3 2007
SG & A
Q4 2007
Taking it to the Bottom Line
1,891
1,940
Not Adjusted for Tax
Fully Tax Adjusted
1,595
1,440
1,141
1,049
920
1,046
905
839
848
940
729
597
807
754
651
557
499
461
457
440
(551)
(60)
Tax Benefit
Of
$1.1 Million
(378)
(560)
Q3 2005
(In Thousands)
Q4 2005
Q1 2006
Q2 2006
Net Income
Q3 2006
Q4 2006
Q1 2007
Q2 2007
Q3 2007
Q4 2007
Proforma Net Income
Why Invest in XPO
• Experienced Management Team
Comparative P/E Ratios
44
• Low P/E Compared to Peers
• History of Strong EBITDA Growth
38
• Low Annual CapEx Requirements
31
28
• Strong Free-Cash Flow
• Significant ROI
18
• Annual Guidance
13
7
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Company
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Revenues > $120 Million (+20%)
Gross Margin > 17%
SG&A < 11%
Net Income > $3.7 Million
EPS $0.11 to $0.12, Fully Diluted
Questions
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Investor Relations Contact:
Mark Patterson
Chief Financial Officer
Express-1, Inc.
429 Post Road
Buchanan, MI 49107
(269) 695-2700
www.express-1.com
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