XPO Logistics (XPO) 8-K EXPRESS-1 Expediting Solutions Executes Strategy

Exhibit 99.1

Contact:
Express-1 Expedited Solutions, Inc.
Michael R. Welch, CEO
269-429-9761
mike@xpocorporate.com

EXPRESS-1 EXPEDITING SOLUTIONS EXECUTES STRATEGY

SAINT JOSEPH, Mich. —August 11^th, 2009 — Express-1 Expedited Solutions, Inc. today reported its earnings for the second quarter, ended June 30, 2009.

During the second quarter of 2009, Express-1 Expedited Solutions, Inc. reported a net income of $288,000 compared to $774,000 for the same quarter in 2008. The Company’s performance was impacted by a soft economy that resulted in a 25% reduction in total revenue as compared to the same quarter in 2008. The net income generated in the quarter was primarily attributable to operating cost reductions put in place during the first quarter. Michael R. Welch, the Company’s CEO, shared these thoughts, “We are cautiously optimistic that both revenue and net income will increase for the remainder of the year as we are beginning to see increased freight volumes.”

Selling, General, and Administrative costs decreased by $383,000 in the second quarter of 2009 compared to the same quarter in 2008. The second quarter represented the first period in which the full impact of these cuts was recognized and reduced the Company’s overall SG&A expense from 16% of gross revenues in the first quarter of 2009 to 13.5% of gross revenues in the second quarter of 2009. “We anticipate this percentage being further reduced as the economy improves and we gain additional efficiencies. Our ability to manage our SG&A costs will continue to be a critical component of our financial strategy in 2009,” stated Welch.

Express-1 Expedited Solutions, Inc. continues to maintain a strong balance sheet by successfully administering its accounts receivables. “Our support team has done a tremendous job of managing our accounts receivables; we have not realized any major write-offs during the first 6 months of 2009,” said Welch. The Company’s concentration of risk also remains healthy as it doesn’t have any one customer that represents over 5% of its outstanding receivables. Additionally, the combined receivables of the Big Three automotive manufacturers represent only 4% of the Company’s outstanding accounts receivables as of June 30, 2009.

Overall, cash flow remains healthy as the Company has additional available capacity of $4.7 million on its line of credit and no immediate capital expenditure plans. The Company remains in compliance with all of its debt covenants as of June 30, 2009.

Conference Call/Webcast Information

Management will conduct a conference call Tuesday, August 11, 2009, at 10:00 a.m. Eastern to discuss the Company’s second quarter financial results. Those interested in accessing a live or archived Webcast of the call should visit the Company’s Website at www.express-1.com. Those wishing to take part in the live teleconference call can dial 877-407-0782, with international participants dialing 201-689-8567. A playback will be available until midnight on August 18, 2009. To listen to the playback, please call 877-660-6853 or 201-612-7415 for international callers. Use account number 286 and conference ID number 329293. Additionally, the webcast will be available for 12 months on the corporate website under the Vcall caption.

About Express-1 Expedited Solutions, Inc.

Express-1 Expedited Solutions, Inc. is a non-asset based services organization focused on premium transportation through its business segments, Express-1, Inc. (Buchanan, Michigan), Concert Group Logistics, Inc. (CGL) (Downers Grove, Illinois), and Bounce Logistics, Inc. (South Bend, Indiana). Serving more than 2,000 customers, these business units are focused on premium services that include: same-day, time—sensitive transportation as well as domestic and international freight forwarding. The operations are handled by experienced inside sales staff using the latest in operational software. The Company’s operating model can be described as non-asset or asset light, as independent contractors and capacity obtained through brokerage agreements fulfill the trucking services for most of its shipments. Express-1 Expedited Solutions, Inc. is publicly traded on the NYSE AMEX Equities Exchange (formerly AMEX) under the symbol XPO. For more information about the Company, visitwww.express-1.com.

Forward-Looking Statements

This press release 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, which may include statements regarding our future financial performance or results of operations, including expected revenue growth, cash flow growth, future expenses, future operating margins and other future or expected performance are subject to risks. These risks include: the acquisition of businesses or the launch of new lines of business, which could increase operating expenses and dilute operating margins; increased competition, which could lead to negative pressure on our pricing and the need for increased marketing; the inability to maintain, establish or renew relationships with customers, whether due to competition or other factors; the inability to comply with regulatory requirements governing our business operations; and to the general risks associated with our businesses.

In addition to the risks and uncertainties discussed above, you can find additional information concerning risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements in the reports that we have filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent our judgment as of the date of this release 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 press release. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in the filing may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

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Express-1 Expedited Solutions
Consolidated Balance Sheet

	(Unaudited)
	June 30, 2009			December 31, 2008
ASSETS
Current assets:
Cash	$	1,526,000		$	1,107,000
Accounts receivable, net of allowances of $195,000 and $133,000, respectively		12,340,000			12,202,000
Prepaid expenses		224,000			372,000
Deferred tax asset, current		518,000			493,000
Other current assets		472,000			650,000
Total current assets		15,080,000			14,824,000
Property and equipment, net of $2,369,000 and $2,220,000 in accumulated depreciation, respectively		2,931,000			3,141,000
Goodwill		15,602,000			14,915,000
Identifiable intangible assets, net of $1,906,000 and $1,682,000 in accumulated amortization, respectively		7,617,000			7,631,000
Loans and advances		45,000			63,000
Other long term assets		1,178,000			1,108,000
Total long term assets		27,373,000			26,858,000
Total assets	$	42,453,000		$	41,682,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	5,483,000		$	6,578,000
Accrued salaries and wages		296,000			691,000
Accrued expenses, other		1,753,000			862,000
Line of credit		4,715,000			—
Current maturities of long-term debt		1,215,000			1,235,000
Other current liabilities		415,000			1,030,000
Total current liabilities		13,877,000			10,396,000
Line of credit		—			2,320,000
Notes payable and capital leases, net of current maturities		820,000			1,400,000
Deferred tax liability, long-term		443,000			583,000
Other long-term liabilities		401,000			456,000
Total long-term liabilities		1,664,000			4,759,000
Stockholders’ equity:
Preferred stock, $.001 par value; 10,000,000 shares; no shares issued or outstanding		—			—
Common stock, $.001 par value; 100,000,000 shares authorized; 32,215,218 and 32,215,218 shares issued; and 32,035,218 and 32,035,218 shares outstanding, respectively		32,000			32,000
Additional paid-in capital		26,408,000			26,316,000
Treasury stock, at cost, 180,000 shares held		(107,000	)		(107,000	)
Accumulated earnings		579,000			286,000
Total stockholders’ equity		26,912,000			26,527,000
	$	42,453,000		$	41,682,000

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Express-1 Expedited Solutions
Consolidated Statements of Operation

	Three Months Ended					Six Months Ended
	June 30, 2009			June 30, 2008		June 30, 2009		June 30, 2008
Revenues
Operating revenue	$	22,243,000		$	29,675,000	$	42,315,000	$	53,391,000
Expenses
Direct expense		18,606,000			24,925,000		35,462,000		44,531,000
Gross margin		3,637,000			4,750,000		6,853,000		8,860,000
Sales general and administrative expense		3,006,000			3,389,000		6,249,000		6,539,000
Operating income from continuing operations		631,000			1,361,000		604,000		2,321,000
Other expense		19,000			12,000		9,000		15,000
Interest expense		26,000			99,000		48,000		179,000
Income from continuing operations before income tax		586,000			1,250,000		547,000		2,127,000
Income tax provision		273,000			509,000		259,000		856,000
Income from continuing operations		313,000			741,000		288,000		1,271,000
Income (loss) from discontinued operations, net of tax		(25,000	)		33,000		5,000		146,000
Net income	$	288,000		$	774,000	$	293,000	$	1,417,000
Basic income per share
Income from continuing operations	$	0.01		$	0.02	$	0.01	$	0.05
Income from discontinued operations		—			—		—		—
Net income		0.01			0.02		0.01		0.05
Diluted income per share
Income from continuing operations		0.01			0.02		0.01		0.05
Income from discontinued operations		—			—		—		—
Net income	$	0.01		$	0.02	$	0.01	$	0.05
Weighted average common shares outstanding
Basic weighted average common shares outstanding		32,035,218			31,723,787		32,035,218		30,883,946
Diluted weighted average common shares outstanding		32,147,648			32,067,972		32,139,842		31,225,376

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Express-1 Expedited Solutions, Inc.
Summary Financial Table
For the Three Months Ended June 30,
(Unaudited)

													Percent of
	Quarter to Date						Quarter to Quarter Change						Business Unit Revenue
	2009			2008			In Dollars			In Percentage			2009			2008
Revenues
Express-1	$	10,090,000		$	14,609,000		$	(4,519,000	)		-30.9	%		45.4	%		49.2	%
Concert Group Logisitcs		10,155,000			14,492,000			(4,337,000	)		-29.9	%		45.7	%		48.8	%
Bounce Logistics		2,232,000			1,045,000			1,187,000			113.6	%		10.0	%		3.5	%
Intercompany eliminations		(234,000	)		(471,000	)		237,000			50.3	%		-1.1	%		-1.5	%
Total revenues		22,243,000			29,675,000			(7,432,000	)		-25.0	%		100.0	%		100.0	%
Direct expenses
Express-1		7,793,000			11,250,000			(3,457,000	)		-30.7	%		77.2	%		77.0	%
Concert Group Logisitcs		9,174,000			13,232,000			(4,058,000	)		-30.7	%		90.3	%		91.3	%
Bounce Logistics		1,873,000			914,000			959,000			104.9	%		83.9	%		87.5	%
Intercompany eliminations		(234,000	)		(471,000	)		237,000			50.3	%		100.0	%		100.0	%
Total direct expenses		18,606,000			24,925,000			(6,319,000	)		-25.4	%		83.6	%		84.0	%
Gross margin
Express-1		2,297,000			3,359,000			(1,062,000	)		-31.6	%		22.8	%		23.0	%
Concert Group Logisitcs		981,000			1,260,000			(279,000	)		-22.1	%		9.7	%		8.7	%
Bounce Logistics		359,000			131,000			228,000			174.0	%		16.1	%		12.5	%
Total gross margin		3,637,000			4,750,000			(1,113,000	)		-23.4	%		16.4	%		16.0	%
Selling, general & administrative
Express-1		1,600,000			1,918,000			(318,000	)		-16.6	%		15.9	%		13.1	%
Concert Group Logisitcs		630,000			866,000			(236,000	)		-27.3	%		6.2	%		6.0	%
Bounce Logistics		273,000			198,000			75,000			37.9	%		12.2	%		18.9	%
Corporate		503,000			407,000			96,000			23.6	%		2.3	%		1.4	%
Total selling, general & administrative		3,006,000			3,389,000			(383,000	)		-11.3	%		13.5	%		11.4	%
Operating income from continuing operations
Express-1		697,000			1,441,000			(744,000	)		-51.6	%		6.9	%		9.9	%
Concert Group Logisitcs		351,000			394,000			(43,000	)		-10.9	%		3.5	%		2.7	%
Bounce Logistics		86,000			(67,000	)		153,000			228.4	%		3.9	%		-6.4	%
Corporate		(503,000	)		(407,000	)		(96,000	)		-23.6	%		-2.3	%		-1.4	%
Operating income from continuing operations		631,000			1,361,000			(730,000	)		-53.6	%		2.8	%		4.6	%
Interest expense		26,000			99,000			(73,000	)		-73.7	%		0.1	%		0.3	%
Other expense		19,000			12,000			7,000			58.3	%		0.1	%		0.0	%
Income from continuing operations before tax		586,000			1,250,000			(664,000	)		-53.1	%		2.6	%		4.2	%
Tax provision		273,000			509,000			(236,000	)		-46.4	%		1.2	%		1.7	%
Income from continuing operations		313,000			741,000			(428,000	)		-57.8	%		1.4	%		2.5	%
Income (loss) from discontinued operations, net of tax		(25,000	)		33,000			(58,000	)		-175.8	%		-0.1	%		0.1	%
Net income	$	288,000		$	774,000		$	(486,000	)		-62.8	%		1.3	%		2.6	%

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Express-1 Expedited Solutions, Inc.
Summary Financial Table
For the Six Months Ended June 30,
(Unaudited)

													Percent of
	Year to Date						Year to Year Change						Business Unit Revenue
	2009			2008			In Dollars			In Percentage			2009			2008
Revenues
Express-1	$	18,978,000		$	27,777,000		$	(8,799,000	)		-31.7	%		44.8	%		52.0	%
Concert Group Logisitcs		19,794,000			24,963,000			(5,169,000	)		-20.7	%		46.8	%		46.8	%
Bounce Logistics		4,012,000			1,228,000			2,784,000			226.7	%		9.5	%		2.3	%
Intercompany eliminations		(469,000	)		(577,000	)		108,000			18.7	%		-1.1	%		-1.1	%
Total revenues		42,315,000			53,391,000			(11,076,000	)		-20.7	%		100.0	%		100.0	%
Direct expenses
Express-1		14,669,000			21,305,000			(6,636,000	)		-31.1	%		77.3	%		76.7	%
Concert Group Logisitcs		17,926,000			22,716,000			(4,790,000	)		-21.1	%		90.6	%		91.0	%
Bounce Logistics		3,336,000			1,087,000			2,249,000			206.9	%		83.2	%		88.5	%
Intercompany eliminations		(469,000	)		(577,000	)		108,000			18.7	%		100.0	%		100.0	%
Total direct expenses		35,462,000			44,531,000			(9,069,000	)		-20.4	%		83.8	%		83.4	%
Gross margin
Express-1		4,309,000			6,472,000			(2,163,000	)		-33.4	%		22.7	%		23.3	%
Concert Group Logisitcs		1,868,000			2,247,000			(379,000	)		-16.9	%		9.4	%		9.0	%
Bounce Logistics		676,000			141,000			535,000			379.4	%		16.8	%		11.5	%
Total gross margin		6,853,000			8,860,000			(2,007,000	)		-22.7	%		16.2	%		16.6	%
Selling, general & administrative
Express-1		3,452,000			3,780,000			(328,000	)		-8.7	%		18.2	%		13.6	%
Concert Group Logisitcs		1,317,000			1,608,000			(291,000	)		-18.1	%		6.7	%		6.4	%
Bounce Logistics		549,000			334,000			215,000			64.4	%		13.7	%		27.2	%
Corporate		931,000			817,000			114,000			14.0	%		2.2	%		1.5	%
Total selling, general & administrative		6,249,000			6,539,000			(290,000	)		-4.4	%		14.8	%		12.2	%
Operating income from continuing operations
Express-1		857,000			2,692,000			(1,835,000	)		-68.2	%		4.5	%		9.7	%
Concert Group Logisitcs		551,000			639,000			(88,000	)		-13.8	%		2.8	%		2.6	%
Bounce Logistics		127,000			(193,000	)		320,000			165.8	%		3.2	%		-15.7	%
Corporate		(931,000	)		(817,000	)		(114,000	)		-14.0	%		-2.2	%		-1.5	%
Operating income from continuing operations		604,000			2,321,000			(1,717,000	)		-74.0	%		1.4	%		4.3	%
Interest expense		48,000			179,000			(131,000	)		-73.2	%		0.1	%		0.3	%
Other expense		9,000			15,000			(6,000	)		-40.0	%		0.0	%		0.0	%
Income from continuing operations before tax		547,000			2,127,000			(1,580,000	)		-74.3	%		1.3	%		4.0	%
Tax provision		259,000			856,000			(597,000	)		-69.7	%		0.6	%		1.6	%
Income from continuing operations		288,000			1,271,000			(983,000	)		-77.3	%		0.7	%		2.4	%
Income from discontinued operations, net of tax		5,000			146,000			(141,000	)		-96.6	%		0.0	%		0.3	%
Net income	$	293,000		$	1,417,000		$	(1,124,000	)		-79.3	%		0.7	%		2.7	%

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