XPO Logistics (XPO) 8-K Xpo Revenues Increase by 70% In Third Quarter

Exhibit 99.1

Contact:
Express-1 Expedited Solutions, Inc.
Mike Welch
269-429-9761
Mike.Welch@xpocorporate.com

XPO REVENUES INCREASE BY 70% IN THIRD QUARTER

SAINT JOSEPH, Mich. — November 15, 2010 — Express-1 Expedited Solutions, Inc. (XPO) today reported its earnings for the third quarter ended September 30, 2010.

For the quarter, revenue from continuing operations increased by 70% to $44.4 million compared to $26.2 million in the third quarter of 2009. Additionally, year over year revenues also increased by 70% to $116.4 million compared to $68.5 million in the initial nine months of 2009.

For the quarter, net income improved by $919,000 to $1.7 million, or $.05 per fully diluted share compared to income of $811,000 in the third quarter of 2009. Year to date net income improved by $3.0 million to $4.1 million or $.12 per fully diluted share compared to net income of $1.1 million in the comparable period in 2009.

“2010 continues to be a breakout year for Express-1 Expedited Solutions and I couldn’t be happier about our strong financial results in what we consider very unsure economic times. We continue to believe that we are well positioned as we look to the immediate future. Again, I would like to thank our employees for their leadership and hard work as we continue to proactively meet and respond to the challenges in our industry.” commented Mike Welch, the Company’s CEO.

“Express-1’s numbers continue to speak for themselves in 2010. Mike and his team have much to be excited about as we continue to emerge from the recession” stated James Martell, Chairman of XPO.

Investor Conference Call

Management will conduct a conference call on Monday, November 15, 2010 at 10:00 a.m. EDT to discuss the Company’s third quarter financial results. 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 November 19, 2010. To listen to the playback, please call 877-660-6853. Use account number 286 and conference ID number 360349. Those interested in accessing a live or archived Webcast of the call should visithttp://www.investorcalendar.com under Express-1 Expedited Solutions, Inc.

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 units, Express-1, Inc. (Buchanan, Michigan), Concert Group Logistics, Inc. (CGL) (Downers Grove, Illinois), and Bounce Logistics, Inc. (South Bend, Indiana). These business units are focused on premium services that include same-day, time-sensitive transportation and domestic and international freight forwarding. Serving more than 4,000 customers, the Company’s premium transportation offerings are provided through one of six operations centers; Buchanan, Michigan; South Bend, Indiana; Downers Grove, Illinois; Rochester Hills, Michigan; Tampa, Florida, and Miami Florida. Express-1 Expedited Solutions, Inc. is publicly traded on the NYSE AMEX Equities Exchange under the symbol XPO. For more information about the Company, visitwww.xpocorporate.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

	(Unaudited)
	September 30, 2010			December 31, 2009
ASSETS
Current assets:
Cash	$	951,000		$	495,000
Accounts receivable, net of allowances of $302,000 and $225,000, respectively		26,282,000			17,569,000
Prepaid expenses		430,000			158,000
Deferred tax asset, current		169,000			353,000
Other current assets		554,000			459,000
Total current assets		28,386,000			19,034,000
Property and equipment, net of $3,116,000 and $2,651,000 in accumulated depreciation, respectively		2,806,000			2,797,000
Goodwill		16,959,000			16,959,000
Identifiable intangible assets, net of $2,669,000 and $2,198,000 in accumulated amortization, respectively		8,704,000			9,175,000
Loans and advances		162,000			30,000
Other long-term assets		735,000			1,044,000
Total long-term assets		29,366,000			30,005,000
Total assets	$	57,752,000		$	49,039,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	8,780,000		$	6,769,000
Accrued salaries and wages		1,218,000			310,000
Accrued expenses, other		3,469,000			2,272,000
Line of credit		—			6,530,000
Current maturities of notes payable and capital leases		1,671,000			1,215,000
Other current liabilities		495,000			968,000
Total current liabilities		15,633,000			18,064,000
Line of credit		4,073,000			—
Notes payable and capital leases, net of current maturities		2,513,000			213,000
Deferred tax liability, long-term		1,630,000			1,156,000
Other long-term liabilities		841,000			1,202,000
Total long-term liabilities		9,057,000			2,571,000
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; 32,562,522 and 32,215,218 shares issued, respectively; and 32,382,522 and 32,035,218 shares outstanding, respectively		33,000			32,000
Additional paid-in capital		27,077,000			26,488,000
Treasury stock, at cost, 180,000 shares held		(107,000	)		(107,000	)
Accumulated earnings		6,059,000			1,991,000
Total stockholders’ equity		33,062,000			28,404,000
Total liabilities and stockholders’ equity	$	57,752,000		$	49,039,000

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

	Three Months Ended				Nine Months Ended
	September 30, 2010		September 30, 2009		September 30, 2010		September 30, 2009
Revenues
Operating revenue	$	44,448,000	$	26,211,000	$	116,430,000	$	68,526,000
Expenses
Direct expense		36,309,000		21,482,000		95,453,000		56,944,000
Gross margin		8,139,000		4,729,000		20,977,000		11,582,000
Sales general and administrative expense		5,219,000		3,284,000		13,892,000		9,533,000
Operating income from continuing operations		2,920,000		1,445,000		7,085,000		2,049,000
Other expense		48,000		19,000		102,000		28,000
Interest expense		32,000		26,000		140,000		74,000
Income from continuing operations before income tax		2,840,000		1,400,000		6,843,000		1,947,000
Income tax provision		1,110,000		599,000		2,775,000		858,000
Income from continuing operations		1,730,000		801,000		4,068,000		1,089,000
Income from discontinued operations, net of tax		—		10,000		—		15,000
Net income	$	1,730,000	$	811,000	$	4,068,000	$	1,104,000
Basic income per share
Income from continuing operations	$	0.05	$	0.03	$	0.13	$	0.03
Income from discontinued operations		—		—		—		—
Net income		0.05		0.03		0.13		0.03
Diluted income per share
Income from continuing operations		0.05		0.03		0.12		0.03
Income from discontinued operations		—		—		—		—
Net income	$	0.05	$	0.03	$	0.12	$	0.03
Weighted average common shares outstanding
Basic weighted average common shares outstanding		32,381,502		32,035,218		32,154,890		32,035,218
Diluted weighted average common shares outstanding		33,008,742		32,138,885		32,741,822		32,142,150

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

													Percent of
	Quarter to Date						Quarter to Quarter Change						Business Unit Revenue
	2010			2009			In Dollars			In Percentage			2010			2009
Revenues
Express-1	$	21,407,000		$	14,704,000		$	6,703,000			45.6	%		48.2	%		56.1	%
Concert Group Logistics		18,586,000			8,945,000			9,641,000			107.8	%		41.8	%		34.1	%
Bounce Logistics		5,696,000			3,077,000			2,619,000			85.1	%		12.8	%		11.7	%
Intercompany eliminations		(1,241,000	)		(515,000	)		(726,000	)		-141.0	%		-2.8	%		-1.9	%
Total revenues		44,448,000			26,211,000			18,237,000			69.6	%		100.0	%		100.0	%
Direct expenses
Express-1		16,096,000			11,430,000			4,666,000			40.8	%		75.2	%		77.7	%
Concert Group Logistics		16,699,000			8,026,000			8,673,000			108.1	%		89.8	%		89.7	%
Bounce Logistics		4,755,000			2,541,000			2,214,000			87.1	%		83.5	%		82.6	%
Intercompany eliminations		(1,241,000	)		(515,000	)		(726,000	)		-141.0	%		100.0	%		100.0	%
Total direct expenses		36,309,000			21,482,000			14,827,000			69.0	%		81.7	%		82.0	%
Gross margin
Express-1		5,311,000			3,274,000			2,037,000			62.2	%		24.8	%		22.3	%
Concert Group Logistics		1,887,000			919,000			968,000			105.3	%		10.2	%		10.3	%
Bounce Logistics		941,000			536,000			405,000			75.6	%		16.5	%		17.4	%
Total gross margin		8,139,000			4,729,000			3,410,000			72.1	%		18.3	%		18.0	%
Selling, general & administrative
Express-1		2,779,000			1,867,000			912,000			48.8	%		13.0	%		12.7	%
Concert Group Logistics		1,335,000			632,000			703,000			111.2	%		7.2	%		7.1	%
Bounce Logistics		661,000			355,000			306,000			86.2	%		11.6	%		11.5	%
Corporate		444,000			430,000			14,000			3.3	%		1.0	%		1.6	%
Total selling, general & administrative		5,219,000			3,284,000			1,935,000			58.9	%		11.7	%		12.5	%
Operating income from continuing operations
Express-1		2,532,000			1,407,000			1,125,000			80.0	%		11.8	%		9.6	%
Concert Group Logistics		552,000			287,000			265,000			92.3	%		3.0	%		3.2	%
Bounce Logistics		280,000			181,000			99,000			54.7	%		4.9	%		5.9	%
Corporate		(444,000	)		(430,000	)		(14,000	)		-3.3	%		-1.0	%		-1.6	%
Operating income from continuing operations		2,920,000			1,445,000			1,475,000			102.1	%		6.6	%		5.5	%
Interest expense		32,000			26,000			6,000			23.1	%		0.1	%		0.1	%
Other expense		48,000			19,000			29,000			152.6	%		0.1	%		0.1	%
Income from continuing operations before tax		2,840,000			1,400,000			1,440,000			102.9	%		6.4	%		5.3	%
Tax provision		1,110,000			599,000			511,000			85.3	%		2.5	%		2.3	%
Income from continuing operations		1,730,000			801,000			929,000			116.0	%		3.9	%		3.1	%
Loss from discontinued operations, net of tax		—			10,000			(10,000	)		-100.0	%		0.0	%		0.0	%
Net income	$	1,730,000		$	811,000		$	919,000			113.3	%		3.9	%		3.1	%

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

													Percent of
	Year to Date						Year to year Change						Business Unit Revenue
	2010			2009			In Dollars			In Percentage			2010			2009
Revenues
Express-1	$	58,176,000		$	33,682,000		$	24,494,000			72.7	%		50.0	%		49.2	%
Concert Group Logistics		47,598,000			28,739,000			18,859,000			65.6	%		40.9	%		41.9	%
Bounce Logistics		13,494,000			7,089,000			6,405,000			90.4	%		11.6	%		10.3	%
Intercompany eliminations		(2,838,000	)		(984,000	)		(1,854,000	)		-188.4	%		-2.5	%		-1.4	%
Total revenues		116,430,000			68,526,000			47,904,000			69.9	%		100.0	%		100.0	%
Direct expenses
Express-1		44,358,000			26,099,000			18,259,000			70.0	%		76.2	%		77.5	%
Concert Group Logistics		42,653,000			25,952,000			16,701,000			64.4	%		89.6	%		90.3	%
Bounce Logistics		11,280,000			5,877,000			5,403,000			91.9	%		83.6	%		82.9	%
Intercompany eliminations		(2,838,000	)		(984,000	)		(1,854,000	)		-188.4	%		100.0	%		100.0	%
Total direct expenses		95,453,000			56,944,000			38,509,000			67.6	%		82.0	%		83.1	%
Gross margin
Express-1		13,818,000			7,583,000			6,235,000			82.2	%		23.8	%		22.5	%
Concert Group Logistics		4,945,000			2,787,000			2,158,000			77.4	%		10.4	%		9.7	%
Bounce Logistics		2,214,000			1,212,000			1,002,000			82.7	%		16.4	%		17.1	%
Total gross margin		20,977,000			11,582,000			9,395,000			81.1	%		18.0	%		16.9	%
Selling, general & administrative
Express-1		7,155,000			5,319,000			1,836,000			34.5	%		12.3	%		15.8	%
Concert Group Logistics		3,582,000			1,949,000			1,633,000			83.8	%		7.5	%		6.8	%
Bounce Logistics		1,696,000			904,000			792,000			87.6	%		12.6	%		12.8	%
Corporate		1,459,000			1,361,000			98,000			7.2	%		1.3	%		2.0	%
Total selling, general & administrative		13,892,000			9,533,000			4,359,000			45.7	%		11.9	%		13.9	%
Operating income from continuing operations
Express-1		6,663,000			2,264,000			4,399,000			194.3	%		11.5	%		6.7	%
Concert Group Logistics		1,363,000			838,000			525,000			62.6	%		2.9	%		2.9	%
Bounce Logistics		518,000			308,000			210,000			68.2	%		3.8	%		4.3	%
Corporate		(1,459,000	)		(1,361,000	)		(98,000	)		-7.2	%		-1.3	%		-2.0	%
Operating income from continuing operations		7,085,000			2,049,000			5,036,000			245.8	%		6.1	%		3.0	%
Interest expense		140,000			74,000			66,000			89.2	%		0.1	%		0.1	%
Other expense		102,000			28,000			74,000			264.3	%		0.1	%		0.0	%
Income from continuing operations before tax		6,843,000			1,947,000			4,896,000			251.5	%		5.9	%		2.8	%
Tax provision		2,775,000			858,000			1,917,000			223.4	%		2.4	%		1.3	%
Income from continuing operations		4,068,000			1,089,000			2,979,000			273.6	%		3.5	%		1.6	%
Income from discontinued operations, net of tax		—			15,000			(15,000	)		-100.0	%		0.0	%		0.0	%
Net income	$	4,068,000		$	1,104,000		$	2,964,000			268.5	%		3.5	%		1.6	%