EGL DROPS 3RD-QUARTER EXPECTATIONS
EGL Inc. said it has revised expectations for its third quarter to show a loss in the range of 2 cents to 5 cents per share, due largely to the terror attacks on Sept. 11.
EGL, the Houston-based transportation and supply chain management company operating under the name EGL Eagle Global Logistics, said it was on rack for “breakeven” results prior to Sept. 11.
EGL has also reached a voluntary settlement of up to $9 million with the Equal Employment Opportunity Commission relating to discrimination allegations by the EEOC. The company anticipates that the first payment of $3 million will be made in November of this year. The remaining $6 million will be paid only after all appeals have been exhausted.