SMF Energy Corporation Signs New Multi-Year Petroleum Distribution ...

Tag : telecommunication services

SMF ENERGY CORPORATION, ( News ) (NASDAQ:FUEL) (the ” Company  ), a leading provider of specialized transportation anddistribution services for petroleum products and chemicalsannounced today that it has been awarded a new, two-year agreementto provide fleet and emergency fueling services to the UnitedStates Postal Service (USPS). Under this expanded agreement, theCompany will provide scheduled fueling services to approximately10,000 postal vehicles domiciled at over 350 locations across theUnited States. In addition, the contract may be extended for up totwo additional 2-year renewal periods, potentially resulting in acontract term through 2014.
Richard E. Gathright, President and CEO commented, ” The expanded opportunities represented in this contract will have amaterial impact on our reported revenues and profit over the lifeof the agreement. Not only did we retain a significant number oflocations serviced under the existing contract, but we alsoacquired the servicing rights for a number of new VehicleMaintenance Facilities covering a large number of additional USPSdelivery points across the United States. These new delivery pointsconstitute a 30% increase in volumes over the prior contract. 
Gathright concluded, ” I am gratified by the confidence shown in our Company by the USPS.We have a 15 year relationship with the Postal Service that, in ourview, has been sustained by our ability to provide excellentservice even during challenging weather and market conditions. Theaward of this new, multi-year contract validates our continuedcommitment to providing the USPS and all of our customers with thesame level of exceptional service. 
About SMF Energy Corporation (NASDAQ:FUEL)
The Company is a leading provider of petroleum product distributionservices, transportation logistics and emergency response servicesto the trucking, manufacturing, construction, shipping, utility,energy, chemical, telecommunication and government servicesindustries. The Company provides its services and products through26 locations in the ten states of Alabama, California, Florida,Georgia, Louisiana, Mississippi, North Carolina, South Carolina,Tennessee and Texas. The broad range of services the Company offersits customers includes commercial mobile and bulk fueling; thepackaging, distribution and sale of lubricants; integratedout-sourced fuel management; transportation logistics and emergencyresponse services. The Company ' s fleet of custom specialized tank wagons, tractor-trailertransports, box trucks and customized flatbed vehicles deliversdiesel fuel and gasoline to customers ' locations on a regularly scheduled or as needed basis, refuelingvehicles and equipment, re-supplying fixed-site and temporary bulkstorage tanks, and emergency power generation systems; anddistributes a wide variety of specialized petroleum products,lubricants and chemicals to its customers. In addition, the Company ' s fleet of special duty tractor-trailer units provides heavy haultransportation services over short and long distances to customersrequiring the movement of over-sized or over-weight equipment andmanufactured products. More information on the Company is availableat www.mobilefueling.com.
Forward Looking Statements
This press release includes ” forward-looking statements  within the meaning of the safe harbor provision of the PrivateSecurities Litigation Reform Act of 1995. Because these statementsdepend on assumptions as to future events, they should not berelied on by shareholders or other persons in evaluating theCompany. Although management believes that these assumptions arereasonable, actual events could differ materially from thoseprojected. In addition, there are various risks and uncertaintieswhich could cause future events to vary, including but not limitedto those cited in the ” Risk Factors  section of the Company ' s Form 10-K for the year ended June 30, 2007 and in the Form 10-Qfor the quarter ended March 31, 2008.




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SMF ENERGY CORPORATION