EX-99
2
dkm869a.txt
EXHIBIT 99.1 - PRESS RELEASE

[GRAPHIC OMITTED]
Trailer Bridge, Inc.

CONTACT:                          -OR-        TRBR INVESTOR RELATIONS COUNSEL:
Trailer Bridge, Inc.                          The Equity Group Inc.
John D. McCown                                www.theequitygroup.com
Chairman & CEO                                Adam Prior       (212) 836-9606
(800) 554 -1589                               Devin Sullivan   (212) 836-9608
www.trailerbridge.com
---------------------

                              FOR IMMEDIATE RELEASE
                              ---------------------

              TRAILER BRIDGE REPORTS RECORD FOURTH QUARTER RESULTS
              ----------------------------------------------------

             Company to Conduct Conference Call Today at 11:00 AM ET

Q4 2005 Highlights
------------------
o   Operating income increases 37.2% to $5.4 million
o   Net income attributable to common shareholders up 118.9% to record $2.8
    million, or $0.22 per diluted common share
o   Operating ratio (operating expenses/revenues) improves to 80.9% from 86.0%
    in the prior year period
o   Cash and cash equivalents of $11.4 million

Jacksonville, FL - March 10, 2006 -- Trailer Bridge, Inc. (NASDAQ: TRBR) today
reported financial results for the fourth quarter ended December 31, 2005 (see
attached table), highlighted by the highest quarterly net income in the
Company's history.

John D. McCown, Chairman and CEO, said, "This is the eleventh straight quarter
where our bottom line improved on a year over year basis. Our diluted earnings
of $.22 per share in the fourth quarter are even more impressive when you
consider that these record results are occurring at a time when our actual
performance difference versus our peer group on measures such as operating
ratios is increasing. Today, Trailer Bridge is both the best performing and
smallest U.S. flag liner carrier - I like that combination and believe that it
positions us well. For the tangible reasons we have continuously highlighted, we
are optimistic with regard to the long term growth and very bright future we
envision with our vastly superior business model."

Total revenue for the three months ended December 31, 2005 was $28.1 million, an
increase of 1.0% compared to the fourth quarter of 2004 and an increase of 7.2%
compared sequentially to the third quarter of 2005. The increase in revenues
versus the year earlier period was driven by rate increases throughout the
sector and sequentially versus the third quarter by both volume and rate
increases. The average revenue per load for containers moved southbound
increased 8.1% from the year earlier period and 1.6% sequentially from the third
quarter of 2005.

The Company's Jacksonville-San Juan deployed vessel capacity utilization during
the fourth quarter was 88.9% to Puerto Rico and 24.0% from Puerto Rico compared
to 103.7% and 24.5%, respectively, during the fourth quarter of 2004. In the
year earlier period, the Company was able to consistently achieve higher
utilization on its Triplestack Box Carrier(R) vessels during the quarter as high
load volume allowed it to optimize its cargo mix and have container stack
heights above previous experienced capacity. While the fourth quarter was an
active period with regard to hurricane activity, the Company was generally
unaffected and was able to maintain all of its sailings, just as it did during
the year earlier period when hurricane activity was also high. Utilization


Trailer Bridge, Inc.
March 10, 2006                                                            Page 2


during the fourth quarter increased both southbound and northbound compared
sequentially to third quarter of 2005 levels of 84.1% and 22.9%, respectively.

Operating income for the fourth quarter ended December 31, 2005 was $5.4
million, a 37.2% improvement of $1.5 million, compared to operating income of
$3.9 million in the prior year period, and a sequential improvement of $1.1
million compared to the third quarter of 2005. The operating ratio improved to
80.9% during the fourth quarter of 2005, compared to an operating ratio of 86.0%
during the year earlier period and 83.7% during the third quarter of 2005.

Net income before taxes for the fourth quarter of $2.8 million represented
improvements of $0.9 million compared to the year earlier period and $1.1
million compared to the third quarter.

Net income attributable to common shares for the fourth quarter of 2005 was $2.8
million, an improvement of $1.5 million compared to the same period last year,
which included various items related to the since cancelled preferred stock. Net
income attributable to common shares also improved sequentially to $1.2 million
compared to the third quarter of 2005, which had no preferred stock items. The
Company recorded net income per diluted common share of $.22 on 12,316,027
diluted shares outstanding in the fourth quarter of 2005, an improvement of $.12
per share compared to net income per diluted common share of $.10 on 12,218,465
diluted shares outstanding in the year earlier period. This also marks a
sequential improvement of $.09 per share compared to net income per diluted
common share of $.13 in the third quarter of 2005.

Financial Position
------------------
At December 31, 2005, the Company had cash balances of $11.4 million, working
capital of $15.4 million and stockholders equity of $0.8 million. There were no
amounts outstanding under a $10 million revolving credit facility.

For the year ended December 31, 2005, total revenue was $105.9 million, an
increase of 7.2% compared to 2004. Operating income of $18.3 million in 2005
represented an increase of 112.3% versus 2004 and resulted in a full year
operating ratio of 82.8%. The Company's net income attributable to common shares
for all of 2005 was $7.8 million, an improvement of 232% compared to 2004. Net
income per diluted share of $.64 in 2005 represented an increase of $.45
compared to net income per diluted share of $.19 in 2004.

Mr. McCown also participated in an in-depth interview that was recently
published in The Wall Street Transcript where he talked at length about Trailer
Bridge and its differentiated assets and superior U.S. flag marine freight
system. The interview is available on the Company's website and can be accessed
with the following link:
http://www.trailerbridge.com/companyinfo/dec2005interview.pdf.

Trailer Bridge will discuss fourth quarter results in a conference call today,
March 10, 2006, at 11:00 AM (Eastern Time). The dial in number is (888)
737-9834. The call will also be simultaneously broadcast over the Internet. To
listen to the live webcast, please go to www.trailerbridge.com and click on the
conference call link, or click http://audioevent.mshow.com/292974. The
conference call will be archived and accessible for approximately 30 days if you
are unable to listen to the live call.

Trailer Bridge provides integrated trucking and marine freight service to and
from all points in the lower 48 states and Puerto Rico, bringing efficiency,
service, security and environmental and safety benefits to domestic cargo in
that traffic lane. This total transportation system utilizes its own trucks,
drivers, trailers, containers and U.S. flag vessels to link the mainland with
Puerto Rico via marine facilities in Jacksonville and San Juan. Additional
information on Trailer Bridge is available at the www.trailerbridge.com website.



Trailer Bridge, Inc.
March 10, 2006                                                            Page 3


This press release contains statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. The matters discussed in this press release include statements regarding
the intent, belief or current expectations of the Company, its directors or its
officers with respect to the future operating performance of the Company.
Investors are cautioned that any such forward looking statements are not
guarantees of future performance and involve risks and uncertainties, and that
actual results may differ materially from those in the forward looking
statements as a result of various factors. Without limitation, these risks and
uncertainties include the risks of economic recessions, severe weather, changes
in the price of fuel, changes in demand for transportation services offered by
the Company, capacity conditions in the Puerto Rico trade lane and changes in
rate levels for transportation services offered by the Company.

                               (Tables to Follow)
                                      ####




Trailer Bridge, Inc.
March 10, 2006                                                            Page 4



                                               TRAILER BRIDGE, INC.
                                            STATEMENTS OF OPERATIONS
                                                  (Unaudited)

Three Months Twelve Months Ended December 31, Ended December 31, --------------------------------- ----------------------------------- 2005 2004 2005 2004 ---------------- --------------- ------------------ -------------- OPERATING REVENUES $ 28,099,615 $ 27,824,188 $ 105,858,617 $ 98,774,666 OPERATING EXPENSES: Salaries, wages, and benefits 4,001,959 3,896,786 16,084,332 15,277,446 Rent and purchased transportation: Related party - 1,207,463 - 6,714,863 Other 5,937,089 6,146,685 21,985,735 23,340,757 Fuel 3,951,998 3,045,289 13,830,796 10,202,207 Operating and maintenance (exclusive of depreciation shown separately below) 5,589,556 6,431,325 23,019,585 23,557,052 Taxes and licenses 78,164 145,945 339,426 282,483 Insurance and claims 842,963 900,329 3,213,150 3,298,460 Communications and utilities 130,888 152,064 503,744 524,044 Depreciation and amortization 1,233,288 805,353 4,419,694 3,081,916 Loss (Gain) on sale of equipment 51,081 (17,113) 508,624 (25,482) Other operating expenses 922,556 1,203,338 3,703,230 3,924,260 ---------------- ------------- ---------------- --------------- 22,739,542 23,917,464 87,608,316 90,178,006 ---------------- ------------- ---------------- --------------- OPERATING INCOME (LOSS) 5,360,073 3,906,724 18,250,301 8,596,660 NONOPERATING EXPENSE: Interest (expense) (2,655,085) (1,983,809) (10,525,939) (4,174,300) Interest income 83,691 7,235 227,535 7,244 ---------------- ------------- ---------------- --------------- INCOME BEFORE (PROVISION) BENEFIT FOR INCOME TAXES AND UMULATIVE EFFECT OF ACCOUNTING CHANGE 2,788,679 1,930,150 7,951,897 4,429,604 (PROVISION) BENEFIT FOR INCOME TAXES (26,437) 8,274 (117,532) 11,006 ---------------- ------------- ---------------- --------------- NET INCOME 2,762,242 1,938,424 7,834,365 4,440,610 ACCRETION OF PREFERRED STOCK DISCOUNT - (78,610) - (515,845) UNDECLARED CUMULATIVE DIVIDEND - (141,371) - (1,115,796) EXCESS OF CONSIDERATION TRANSFERRED TO HOLDERS OF - (456,298) - (456,298) ---------------- ------------- ---------------- --------------- NET INCOME ATTRIBUTABLE TO $ 2,762,242 $ 1,262,145 $ 7,834,365 $ 2,352,671 COMMON SHARES ================ ============= ================ =============== PER SHARE AMOUNTS: NET INCOME PER SHARE BASIC $ 0.23 $ 0.11 $ 0.67 $ 0.20 ================ ============= ================ =============== NET INCOME PER SHARE DILUTED $ 0.22 $ 0.10 $ 0.64 $ 0.19 ================ ============= ================ =============== WEIGHTED AVERAGE SHARES OUTSTANDING 11,776,049 11,757,927 11,769,037 11,750,092 ================ ============= ================ =============== DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 12,316,027 12,218,465 12,312,948 12,017,026 ================ ============= ================ ===============

The following information was filed by Trailer Bridge Inc (TRBR) on Wednesday, March 15, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Trailer Bridge Inc's financial trajectory

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