XPO Logistics (XPO) 8-K Xpo Positioned for Continued Growth In 2010

Exhibit 99.1

Contact:
Express-1 Expedited Solutions, Inc.
David Yoder
269-695-4947
Dave.Yoder@xpocorporate.com

XPO POSITIONED FOR CONTINUED GROWTH IN 2010

SAINT JOSEPH, Mich. – February 24, 2010 – Express-1 Expedited Solutions, Inc. (XPO) today reported its audited earnings for the fourth quarter ended December 31, 2009.

In the fourth quarter, revenue from continuing operations increased by 27% to $31.6 million compared to $25.0 million in the fourth quarter of 2008. The acquisition of LRG International, Inc. on October 1, 2009 contributed $1.9 million to revenue for the quarter.

During the same period, income from continuing operations improved 17% to $601,000 or $0.02 per fully diluted share compared to $514,000 or $0.02 per diluted share for the fourth quarter of 2008. The fourth quarter results of 2009 include a charge of $400,000 for claims expense that exceeded the Company’s insurance limit, a first time occurrence in the Company’s history.

“The Company was able to adapt to the extremely weak economy during the first half of the year. As business improved, we strategically added key personnel to help us grow in 2010 and beyond.” commented Michael R. Welch, the Company’s CEO.

Investor Conference Call

Management will conduct a conference call Thursday, February 25, 2010 at 10:00 a.m. EST to discuss the Company’s fourth 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 March 4, 2010. To listen to the playback, please call 877-660-6853. Use account number 286 and conference ID number 344752.

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). These segments are focused on premium services that include same-day, time-sensitive transportation and domestic and international freight forwarding. Serving more than 2,000 customers, the Company’s premium transportation offerings are provided through one of five operations centers; Buchanan, Michigan; South Bend, Indiana; Downers Grove, Illinois; Rochester Hills, Michigan and Tampa, Florida. The operations are handled by experienced inside

sales staff using the latest operational software. The Company’s expedited ground coverage includes all of North America. The Company provides freight forwarding services with global coverage including air and ocean container freight services. The Company’s operating model can be described as non-asset or asset light, as independent contractors and capacity 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 under the symbol XPO. For more information about the Company, visit www.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 could increase operating expenses and dilute operating margins; increased competition 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.

Express-1 Expedited Solutions, Inc.
Consolidated Balance Sheets

	December 31, 2009			December 31, 2008
Assets
Current assets:
Cash	$	495,000		$	1,107,000
Accounts receivable, net of allowances of $225,000 and $133,000, respectively		17,569,000			12,202,000
Prepaid expenses		158,000			372,000
Deferred tax asset, current		353,000			493,000
Other current assets		459,000			650,000
Total current assets		19,034,000			14,824,000
Property and equipment, net of $2,651,000 and $2,220,000 in accumulated depreciation, respectively		2,797,000			3,141,000
Goodwill		16,959,000			14,915,000
Identified intangible assets, net of $2,198,000 and $1,682,000 in accumulated amortization, respectively		9,175,000			7,631,000
Loans and advances		30,000			63,000
Other long-term assets		1,044,000			1,108,000
Total long-term assets		30,005,000			26,858,000
Total assets	$	49,039,000		$	41,682,000
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	6,769,000		$	6,578,000
Accrued salaries and wages		310,000			691,000
Accrued expenses, other		2,272,000			862,000
Line of credit		6,530,000			—
Current maturities of long-term debt		1,215,000			1,235,000
Other current liabilities		968,000			1,030,000
Total current liabilities		18,064,000			10,396,000
Line of credit		—			2,320,000
Notes payable and capital leases, net of current maturities		213,000			1,400,000
Deferred tax liability, long-term		1,156,000			583,000
Other long-term liabilities		1,202,000			456,000
Total long-term liabilities		2,571,000			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 shares issued; and 32,035,218 shares outstanding		32,000			32,000
Additional paid-in capital		26,488,000			26,316,000
Treasury stock, at cost, 180,000 shares held		(107,000	)		(107,000	)
Accumulated earnings		1,991,000			286,000
Total stockholders’ equity		28,404,000			26,527,000
Total liabilities and stockholders’ equity	$	49,039,000		$	41,682,000

Express-1 Expedited Solutions, Inc.
Consolidated Statements of Operations

	Three Months Ended Unaudited				Twelve Months Ended
	December 31, 2009		December 31, 2008		December 31, 2009		December 31, 2008
Revenues
Operating revenue	$	31,610,000	$	24,954,000	$	100,136,000	$	109,462,000
Expenses
Direct expense		26,452,000		20,933,000		83,396,000		91,628,000
Gross margin		5,158,000		4,021,000		16,740,000		17,834,000
Sales general and administrative expense		4,036,000		2,977,000		13,569,000		12,664,000
Operating income from continuing operations		1,122,000		1,044,000		3,171,000		5,170,000
Other expense		23,000		69,000		51,000		105,000
Interest expense		31,000		81,000		105,000		354,000
Income from continuing operations before income tax		1,068,000		894,000		3,015,000		4,711,000
Income tax provision		467,000		380,000		1,325,000		1,894,000
Income from continuing operations		601,000		514,000		1,690,000		2,817,000
Income from discontinued operations, net of tax		—		73,000		15,000		339,000
Net income	$	601,000	$	587,000	$	1,705,000	$	3,156,000
Basic income per share
Income from continuing operations		0.02		0.02		0.05		0.09
Income from discontinued operations		0.00		0.00		0.00		0.01
Net income		0.02		0.02		0.05		0.10
Diluted income per share
Income from continuing operations		0.02		0.02		0.05		0.09
Income from discontinued operations		0.00		0.00		0.00		0.01
Net income		0.02		0.02		0.05		0.10
Weighted average common shares outstanding
Basic weighted average common shares outstanding		32,035,218		32,035,247		32,035,218		31,453,765
Diluted weighted average common shares outstanding		32,270,463		32,212,725		32,167,447		31,757,164

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Express-1 Expedited Solutions, Inc.
Summary Financial Table
For the Three Months Ended December 31, 2009 and 2008 — Unaudited

	Quarter to Date						Quarter to Quarter Change						Percent of Revenue
	2009			2008			Change			% Change			2009			2008
Revenues
Express-1	$	16,960,000		$	10,675,000		$	6,285,000			58.9	%		53.7	%		42.8	%
Concert Group Logisitcs		12,423,000			11,832,000			591,000			5.0	%		39.3	%		47.4	%
Bounce Logistics		3,336,000			2,770,000			566,000			20.4	%		10.6	%		11.1	%
Intercompany eliminations		(1,109,000	)		(323,000	)		(786,000	)		-243.3	%		-3.6	%		-1.3	%
Total revenues		31,610,000			24,954,000			6,656,000			26.7	%		100.0	%		100.0	%
Direct expenses
Express-1		13,775,000			8,263,000			5,512,000			66.7	%		81.2	%		77.4	%
Concert Group Logisitcs		11,027,000			10,735,000			292,000			2.7	%		88.8	%		90.7	%
Bounce Logistics		2,759,000			2,258,000			501,000			22.2	%		82.7	%		81.5	%
Intercompany eliminations		(1,109,000	)		(323,000	)		(786,000	)		-243.3	%		100.0	%		100.0	%
Total Direct expenses		26,452,000			20,933,000			5,519,000			26.4	%		83.7	%		83.9	%
Gross margin
Express-1		3,185,000			2,412,000			773,000			32.0	%		18.8	%		22.6	%
Concert Group Logisitcs		1,396,000			1,097,000			299,000			27.3	%		11.2	%		9.3	%
Bounce Logistics		577,000			512,000			65,000			12.7	%		17.3	%		18.5	%
Total gross margin		5,158,000			4,021,000			1,137,000			28.3	%		16.3	%		16.1	%
Selling, general & administrative
Express-1		2,003,000			1,728,000			275,000			15.9	%		11.8	%		16.2	%
Concert Group Logisitcs		1,113,000			525,000			588,000			112.0	%		9.0	%		4.4	%
Bounce Logistics		427,000			355,000			72,000			20.3	%		12.8	%		12.8	%
Corporate		493,000			369,000			124,000			33.6	%		1.6	%		1.5	%
Total selling, general & administrative		4,036,000			2,977,000			1,059,000			35.6	%		12.8	%		11.9	%
Operating income from continuing operations
Express-1		1,182,000			684,000			498,000			72.8	%		7.0	%		6.4	%
Concert Group Logisitcs		283,000			572,000			(289,000	)		-50.5	%		2.3	%		4.8	%
Bounce Logistics		150,000			157,000			(7,000	)		-4.5	%		4.5	%		5.7	%
Corporate		(493,000	)		(369,000	)		(124,000	)		-33.6	%		-1.6	%		-1.5	%
Operating income from continuing operations		1,122,000			1,044,000			78,000			7.5	%		3.5	%		4.2	%
Interest expense		31,000			81,000			(50,000	)		-61.7	%		0.1	%		0.3	%
Other expense		23,000			69,000			(46,000	)		-66.7	%		0.0	%		0.3	%
Income from continuing operations before tax		1,068,000			894,000			174,000			19.5	%		3.4	%		3.6	%
Tax provision		467,000			380,000			87,000			22.9	%		1.5	%		1.5	%
Income from continuing operations		601,000			514,000			87,000			16.9	%		1.9	%		2.1	%
Income from discontinued operations, net of tax		—			73,000			(73,000	)		-100.0	%		0.0	%		0.3	%
Net income	$	601,000		$	587,000		$	14,000			2.4	%		1.9	%		2.4	%

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Express-1 Expedited Solutions, Inc.
Summary Financial Table
For the Twelve Months Ended December 31, 2009 and 2008

	Year to Date						Year to Year Change						Percent of Revenue
	2009			2008			Change			% Change			2009			2008
Revenues
Express-1	$	50,642,000		$	52,639,000		$	(1,997,000	)		-3.8	%		50.6	%		48.1	%
Concert Group Logisitcs		41,162,000			51,136,000			(9,974,000	)		-19.5	%		41.1	%		46.7	%
Bounce Logistics		10,425,000			7,011,000			3,414,000			48.7	%		10.4	%		6.4	%
Intercompany eliminations		(2,093,000	)		(1,324,000	)		(769,000	)		-58.1	%		-2.1	%		-1.2	%
Total revenues		100,136,000			109,462,000			(9,326,000	)		-8.5	%		100.0	%		100.0	%
Direct expenses
Express-1		39,874,000			40,408,000			(534,000	)		-1.3	%		78.7	%		76.8	%
Concert Group Logisitcs		36,979,000			46,578,000			(9,599,000	)		-20.6	%		89.8	%		91.1	%
Bounce Logistics		8,636,000			5,966,000			2,670,000			44.8	%		82.8	%		85.1	%
Intercompany eliminations		(2,093,000	)		(1,324,000	)		(769,000	)		-58.1	%		100.0	%		100.0	%
Total Direct expenses		83,396,000			91,628,000			(8,232,000	)		-9.0	%		83.3	%		83.7	%
Gross margin
Express-1		10,768,000			12,231,000			(1,463,000	)		-12.0	%		21.3	%		23.2	%
Concert Group Logisitcs		4,183,000			4,558,000			(375,000	)		-8.2	%		10.2	%		8.9	%
Bounce Logistics		1,789,000			1,045,000			744,000			71.2	%		17.2	%		14.9	%
Total gross margin		16,740,000			17,834,000			(1,094,000	)		-6.1	%		16.7	%		16.3	%
Selling, general & administrative
Express-1		7,322,000			7,116,000			206,000			2.9	%		14.5	%		13.5	%
Concert Group Logisitcs		3,062,000			2,847,000			215,000			7.6	%		7.4	%		5.6	%
Bounce Logistics		1,331,000			1,079,000			252,000			23.4	%		12.8	%		15.4	%
Corporate		1,854,000			1,622,000			232,000			14.3	%		1.9	%		1.5	%
Total selling, general & administrative		13,569,000			12,664,000			905,000			7.1	%		13.5	%		11.6	%
Operating income from continuing operations
Express-1		3,446,000			5,115,000			(1,669,000	)		-32.6	%		6.8	%		9.7	%
Concert Group Logisitcs		1,121,000			1,711,000			(590,000	)		-34.5	%		2.7	%		3.3	%
Bounce Logistics		458,000			(34,000	)		492,000			1447.1	%		4.4	%		-0.5	%
Corporate		(1,854,000	)		(1,622,000	)		(232,000	)		-14.3	%		-1.9	%		-1.5	%
Operating income from continuing operations		3,171,000			5,170,000			(1,999,000	)		-38.7	%		3.2	%		4.7	%
Interest expense		105,000			354,000			(249,000	)		-70.3	%		0.1	%		0.3	%
Other expense		51,000			105,000			(54,000	)		-51.4	%		0.1	%		0.1	%
Income from continuing operations before tax		3,015,000			4,711,000			(1,696,000	)		-36.0	%		3.0	%		4.3	%
Tax provision		1,325,000			1,894,000			(569,000	)		-30.0	%		1.3	%		1.7	%
Income from continuing operations		1,690,000			2,817,000			(1,127,000	)		-40.0	%		1.7	%		2.6	%
Income from discontinued operations, net of tax		15,000			339,000			(324,000	)		-95.6	%		0.0	%		0.3	%
Net income	$	1,705,000		$	3,156,000		$	(1,451,000	)		-46.0	%		1.7	%		2.9	%

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