Exhibit 99.1
Consolidated Freightways Corporation
Consolidating Income Statements
For the Month Ended January 31, 2004
(Unaudited)
Consolidated Freightways Corporation of Delaware | Consolidated Freightways Corporation | CF AirFreight Corporation | Leland James Service Corporation | Redwood Systems Inc. | CF MovesU Inc. | CFCD 2002 LLC | CFCD 2002 Member LLC | CFCD 2002A LLC | CFCD 2002A Member LLC | Total | |||||||||||||||||||||||||||||
Revenue - Customers | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Revenue - Affiliates | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Total Revenue | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Operating Expenses | 473,313 | — | — | — | — | — | — | — | — | — | 473,313 | ||||||||||||||||||||||||||||
Salaries, Wages, and Benefits | 169,679 | — | 15 | — | — | — | — | — | — | — | 169,694 | ||||||||||||||||||||||||||||
Operating Taxes and Licensing | 325,082 | — | 4,935 | — | — | — | 209,923 | — | 4,323 | — | 544,263 | ||||||||||||||||||||||||||||
Claims and Insurance | 44,504 | — | — | — | — | — | 21,686 | — | 5,276 | — | 71,466 | ||||||||||||||||||||||||||||
Rents | (26,591 | ) | — | 180 | — | — | — | — | — | — | — | (26,411 | ) | ||||||||||||||||||||||||||
Other G&A Expense | 43,367 | — | (171 | ) | — | — | — | — | — | — | — | 43,196 | |||||||||||||||||||||||||||
(Gain)/ Loss on Sale of Assets | (526,599 | ) | (3,471,419 | ) | — | — | — | — | (81,882 | ) | — | 16,144 | — | (4,063,756 | ) | ||||||||||||||||||||||||
Total Operating Expenses | 502,755 | (3,471,419 | ) | 4,959 | — | — | — | 149,727 | — | 25,743 | — | (2,788,235 | ) | ||||||||||||||||||||||||||
Operating Income (Loss) | (502,755 | ) | 3,471,419 | (4,959 | ) | — | — | — | (149,727 | ) | — | (25,743 | ) | — | 2,788,235 | ||||||||||||||||||||||||
Interest on Debt | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Other Interest Expense | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Interest Expense | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Temporary Investment Interest | 45,238 | — | — | — | — | — | 32,123 | — | 6,493 | — | 83,854 | ||||||||||||||||||||||||||||
Other Interest Income | 82,834 | — | — | — | — | — | — | — | — | — | 82,834 | ||||||||||||||||||||||||||||
Interest Income | 128,072 | — | — | — | — | — | 32,123 | — | 6,493 | — | 166,688 | ||||||||||||||||||||||||||||
Other Miscellaneous, Net | (47,734 | ) | — | — | — | — | — | — | — | — | — | (47,734 | ) | ||||||||||||||||||||||||||
Income (Loss) Before Taxes | (422,417 | ) | 3,471,419 | (4,959 | ) | — | — | — | (117,604 | ) | — | (19,250 | ) | — | 2,907,189 | ||||||||||||||||||||||||
Federal Income Tax Current | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Federal Income Tax Deferred | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
State Income Tax Current | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Foreign Income Tax Current | 601,520 | — | — | — | — | — | — | — | — | — | 601,520 | ||||||||||||||||||||||||||||
Income Taxes | 601,520 | — | — | — | — | — | — | — | — | — | 601,520 | ||||||||||||||||||||||||||||
Net Income (Loss) | $ | (1,023,937 | ) | $ | 3,471,419 | $ | (4,959 | ) | $ | — | $ | — | $ | — | $ | (117,604 | ) | $ | — | $ | (19,250 | ) | $ | — | $ | 2,305,669 | |||||||||||||
Consolidated Freightways Corporation
Consolidating Income Statements
For the Month Ended February 28, 2004
(Unaudited)
Consolidated Freightways Corporation of Delaware | Consolidated Freightways Corporation | CF AirFreight Corporation | Leland James Service Corporation | Redwood Systems Inc. | CF MovesU Inc. | CFCD 2002 LLC | CFCD 2002 Member LLC | CFCD 2002A LLC | CFCD 2002A Member LLC | Total | |||||||||||||||||||||||||||||
Revenue - Customers | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Revenue - Affiliates | — | — | — | — | — | — | — | — | — | �� | — | — | |||||||||||||||||||||||||||
Total Revenue | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Operating Expenses | 630,802 | — | — | — | — | — | — | — | — | — | 630,802 | ||||||||||||||||||||||||||||
Salaries, Wages, and Benefits | 174,375 | — | — | — | — | — | — | — | — | — | 174,375 | ||||||||||||||||||||||||||||
Purchased Transportation | 897 | — | 47,891 | — | — | — | — | — | — | — | 48,788 | ||||||||||||||||||||||||||||
Operating Taxes and Licensing | (424,694 | ) | — | — | — | — | — | 120,923 | — | 410,010 | — | 106,239 | |||||||||||||||||||||||||||
Claims and Insurance | 38,463 | — | — | — | — | — | 21,686 | — | 5,276 | — | 65,425 | ||||||||||||||||||||||||||||
Rents | (40,462 | ) | — | — | — | — | — | — | — | — | — | (40,462 | ) | ||||||||||||||||||||||||||
Other G&A Expense | 614,504 | — | 29,271 | — | 310 | — | — | — | — | — | 644,085 | ||||||||||||||||||||||||||||
(Gain)/Loss on Sale of Assets | (1,948,613 | ) | — | — | — | — | — | (1,926,256 | ) | — | — | — | (3,874,869 | ) | |||||||||||||||||||||||||
Total Operating Expenses | (954,728 | ) | — | 77,162 | — | 310 | — | (1,783,647 | ) | — | 415,286 | — | (2,245,617 | ) | |||||||||||||||||||||||||
Operating Income (Loss) | 954,728 | — | (77,162 | ) | — | (310 | ) | — | 1,783,647 | — | (415,286 | ) | — | 2,245,617 | |||||||||||||||||||||||||
Interest on Debt | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Other Interest Expense | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Interest Expense | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Temporary Investment Interest | 50,614 | — | — | — | — | — | 31,758 | — | 7,996 | — | 90,368 | ||||||||||||||||||||||||||||
Other Interest Income | 49,731 | — | — | — | — | — | — | — | — | — | 49,731 | ||||||||||||||||||||||||||||
Interest Income | 100,345 | — | — | — | — | — | 31,758 | — | 7,996 | — | 140,099 | ||||||||||||||||||||||||||||
Other Miscellaneous, Net | 2,542 | — | — | — | — | — | — | — | — | — | 2,542 | ||||||||||||||||||||||||||||
Income (Loss) Before Taxes | 1,057,615 | — | (77,162 | ) | — | (310 | ) | — | 1,815,405 | — | (407,290 | ) | — | 2,388,258 | |||||||||||||||||||||||||
Federal Income Tax Current | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Federal Income Tax Deferred | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
State Income Tax Current | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Foreign Income Tax Current | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Income Taxes | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Net Income (Loss) | $ | 1,057,615 | $ | — | $ | (77,162 | ) | $ | — | $ | (310 | ) | $ | — | $ | 1,815,405 | $ | — | $ | (407,290 | ) | $ | — | $ | 2,388,258 | ||||||||||||||
Consolidated Freightways Corporation
Consolidating Income Statements
For the Month Ended March 31, 2004
(Unaudited)
Consolidated Freightways Corporation of Delaware | Consolidated Freightways Corporation | CF AirFreight Corporation | Leland James Service Corporation | Redwood Systems Inc. | CF Inc. | CFCD 2002 LLC | CFCD Member LLC | CFCD LLC | CFCD Member LLC | Total | |||||||||||||||||||||||||||||
Revenue - Customers | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Revenue - Affiliates | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Total Revenue | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Operating Expenses | 495,286 | — | 353 | — | 440 | — | 547 | — | — | — | 496,626 | ||||||||||||||||||||||||||||
Salaries, Wages, and Benefits | 305,502 | — | — | — | — | — | — | — | — | — | 305,502 | ||||||||||||||||||||||||||||
Purchased Transportation | 7,801 | — | 62,548 | — | — | — | — | — | — | — | 70,349 | ||||||||||||||||||||||||||||
Operating Taxes and Licensing | (56,833 | ) | — | — | — | — | — | 29,202 | — | — | — | (27,631 | ) | ||||||||||||||||||||||||||
Claims and Insurance | 50,080 | — | — | — | — | — | 21,686 | — | 5,276 | — | 77,042 | ||||||||||||||||||||||||||||
Rents | (26,256 | ) | — | — | — | — | — | — | — | — | — | (26,256 | ) | ||||||||||||||||||||||||||
Other G&A Expense | 2,578,513 | — | (689 | ) | — | — | — | — | — | — | — | 2,577,824 | |||||||||||||||||||||||||||
(Gain)/Loss on Sale of Assets | (2,266,593 | ) | — | — | — | — | — | (6,160,155 | ) | — | (130 | ) | — | (8,426,878 | ) | ||||||||||||||||||||||||
Total Operating Expenses | 1,087,500 | — | 62,212 | — | 440 | — | (6,108,720 | ) | — | 5,146 | — | (4,953,422 | ) | ||||||||||||||||||||||||||
Operating Income (Loss) | (1,087,500 | ) | — | (62,212 | ) | — | (440 | ) | — | 6,108,720 | — | (5,146 | ) | — | 4,953,422 | ||||||||||||||||||||||||
Interest on Debt | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Other Interest Expense | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Interest Expense | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Temporary Investment Interest | 54,735 | — | — | — | — | — | 35,792 | — | 8,845 | — | 99,372 | ||||||||||||||||||||||||||||
Other Interest Income | 58,960 | — | — | — | — | — | — | — | — | — | 58,960 | ||||||||||||||||||||||||||||
Interest Income | 113,695 | — | — | — | — | — | 35,792 | — | 8,845 | — | 158,332 | ||||||||||||||||||||||||||||
Other Miscellaneous, Net | 103,402 | — | — | — | — | — | — | — | — | — | 103,402 | ||||||||||||||||||||||||||||
Income (Loss) Before Taxes | (870,403 | ) | — | (62,212 | ) | — | (440 | ) | — | 6,144,512 | — | 3,699 | — | 5,215,156 | |||||||||||||||||||||||||
Federal Income Tax Current | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Federal Income Tax Deferred | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
State Income Tax Current | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Foreign Income Tax Current | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Income Taxes | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Net Income (Loss) | $ | (870,403 | ) | $ | — | $ | (62,212 | ) | $ | — | $ | (440 | ) | $ | — | $ | 6,144,512 | $ | — | $ | 3,699 | $ | — | $ | 5,215,156 | ||||||||||||||