During the corresponding time, Rand Logistics, Inc. recorded a revenue increase by 6.83 % year on year, sequentially revenue grew by 2.31 %. While revenue at the Rand Logistics, Inc.'s corporate clients
Rand Logistics's Comment on Sales, Marketing and Customers
Customers Lower Lakes services approximately 50 customers in a diverse array of end markets
by shipping dry bulk commodities such as grain, coal, iron ore, construction aggregates
and salt. The timing of the end of the Company's fiscal year in relation to the
sailing season allows most of a sailing season's receivables to be collected prior
to the end of the Company's fiscal year. Lower Lakes is the sole-source shipping
provider to several of its customers. With few exceptions, Lower Lakes' customers
are under long-term contracts with Lower Lakes, which contracts typically average
three to five years in duration and provide for minimum and maximum annual tonnage
requirements, annual price escalation features and fuel surcharge adjustments.
Certain of our customer contracts also provide for water level adjustments, demurrage
and discharge provisions. Lower Lakes has one customer that represents more than
10% of our revenues.
