##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 FORM 10-Q
 
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended January 31, 2009
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 Commission file number: 000-21057
 DYNAMEX INC.
 (Exact name of registrant as specified in its charter)
 Delaware
(State of incorporation)
    
    86-0712225
(I.R.S. Employer Identification No.)
 5429 LBJ Freeway, Suite 1000, Dallas, Texas
    
    75240(Address of principal executive offices)
    
    (Zip Code)
 Registrants telephone number, including area code:
(214) 560-9000
 þ o
  Large accelerated filer o   
    Accelerated filer þ
    Non-accelerated filer o
    Smaller reporting company o(Do not check if a smaller reporting company)
 o þ




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##### 



DYNAMEX
INC.
 INDEX
 PagePART IFINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Consolidated Balance Sheets
January 31, 2009 (Unaudited) and July 31, 2008
    
    
    2Condensed Statements of Consolidated Operations (Unaudited)
Three and six months ended January 31, 2009 and 2008
    
    
    3Condensed Statements of Consolidated Cash Flows (Unaudited)
Six months ended January 31, 2009 and 2008
    
    
    4Notes to Condensed Consolidated Financial Statements (Unaudited)
    
    
    5Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    10Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    18Item 4. Controls and Procedures
    
    
    19PART IIOTHER INFORMATIONItem 1. Legal Proceedings
    
    
    20Item 1A. Risk Factors
    
    
    21Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    25Item 4. Submission of Matters to a Vote of Security Holders
    
    
    25Item 6. Exhibits
    
    
    26Signatures
    
    
    27Exhibit Index
    
    
    E-1EX-10.14EX-31.1EX-31.2EX-32.1EX-32.2
  1




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##### Table of Contents



PART I
FINANCIAL INFORMATION
 
  DYNAMEX INC.
 
 
 January 31,
    
    
    July 31,2009
    
    
    2008(Unaudited)ASSETSCURRENTCash and cash equivalents
    
    $
    4,734
    
    
    $
    19,888Accounts receivable (net of allowance for doubtful accounts
of $1,689 and $915, respectively)
    
    
    46,444
    
    
    
    47,288Income taxes receivable
    
    
    3,116
    
    
    
    1,546Prepaid and other current assets
    
    
    2,917
    
    
    
    4,429Deferred income taxes
    
    
    3,906
    
    
    
    3,504Total current assets
    
    
    61,117
    
    
    
    76,655PROPERTY AND EQUIPMENT  net
    
    
    8,653
    
    
    
    8,670GOODWILL
    
    
    46,068
    
    
    
    48,109INTANGIBLES  net
    
    
    664
    
    
    
    808OTHER
    
    
    3,041
    
    
    
    4,382Total assets
    
    $
    119,543
    
    
    $
    138,624LIABILITIES AND STOCKHOLDERS EQUITYCURRENT LIABILITIESAccounts payable trade
    
    $
    5,615
    
    
    $
    12,621Accrued liabilities
    
    
    21,278
    
    
    
    24,160Total current liabilities
    
    
    26,893
    
    
    
    36,781LONG-TERM DEBT
    
    
    
    
    
    
    OTHER LONG-TERM LIABILITIES
    
    
    4,183
    
    
    
    4,209Total liabilities
    
    
    31,076
    
    
    
    40,990COMMITMENTS AND CONTINGENCIESSTOCKHOLDERS EQUITYPreferred stock; $0.01 par value, 10,000 shares authorized;
none outstanding
    
    
    
    
    
    
    Common stock; $0.01 par value, 50,000 shares authorized;
9,710 and 10,148 outstanding, respectively
    
    
    97
    
    
    
    101Additional paid-in capital
    
    
    35,465
    
    
    
    45,311Retained earnings
    
    
    52,253
    
    
    
    46,905Accumulated other comprehensive income
    
    
    652
    
    
    
    5,317Total stockholders equity
    
    
    88,467
    
    
    
    97,634Total liabilities and stockholders equity
    
    $
    119,543
    
    
    $
    138,624
  2




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DYNAMEX INC.
 
 
 Three months ended
    
    
    Six months endedJanuary 31,
    
    
    January 31,2009
    
    
    2008
    
    
    2009
    
    
    2008Sales
    
    $
    97,557
    
    
    $
    111,957
    
    
    $
    213,009
    
    
    $
    223,709Cost of sales:Purchased transportation
    
    
    62,874
    
    
    
    73,596
    
    
    
    138,256
    
    
    
    147,517Other direct costs
    
    
    9,372
    
    
    
    8,528
    
    
    
    18,433
    
    
    
    16,654Cost of sales
    
    
    72,246
    
    
    
    82,124
    
    
    
    156,689
    
    
    
    164,171Gross profit
    
    
    25,311
    
    
    
    29,833
    
    
    
    56,320
    
    
    
    59,538Selling, general and administrative expenses:Salaries and employee benefits
    
    
    15,119
    
    
    
    16,967
    
    
    
    33,038
    
    
    
    33,041Other
    
    
    6,207
    
    
    
    6,929
    
    
    
    12,971
    
    
    
    13,515Selling, general and administrative expenses
    
    
    21,326
    
    
    
    23,896
    
    
    
    46,009
    
    
    
    46,556Depreciation and amortization
    
    
    811
    
    
    
    702
    
    
    
    1,594
    
    
    
    1,373(Gain) loss on disposal of property and equipment
    
    
    1
    
    
    
    (7
    )
    
    
    (2
    )
    
    
    (16
    )Operating income
    
    
    3,173
    
    
    
    5,242
    
    
    
    8,719
    
    
    
    11,625Interest expense
    
    
    43
    
    
    
    54
    
    
    
    81
    
    
    
    132Other income, net
    
    
    (291
    )
    
    
    (204
    )
    
    
    (309
    )
    
    
    (304
    )Income before income taxes
    
    
    3,421
    
    
    
    5,392
    
    
    
    8,947
    
    
    
    11,797Income taxes
    
    
    1,117
    
    
    
    1,973
    
    
    
    3,599
    
    
    
    4,384Net income
    
    $
    2,304
    
    
    $
    3,419
    
    
    $
    5,348
    
    
    $
    7,413Basic earnings per common share:
    
    $
    0.24
    
    
    $
    0.33
    
    
    $
    0.54
    
    
    $
    0.73Diluted earnings per common share:
    
    $
    0.24
    
    
    $
    0.33
    
    
    $
    0.54
    
    
    $
    0.72Weighted average shares:Common shares outstanding
    
    
    9,747
    
    
    
    10,232
    
    
    
    9,848
    
    
    
    10,203Adjusted common shares  assuming
exercise of stock options
    
    
    9,768
    
    
    
    10,342
    
    
    
    9,902
    
    
    
    10,309
  3




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DYNAMEX INC.
 
 
 Six months endedJanuary 31,2009
    
    
    2008OPERATING ACTIVITIESNet income
    
    $
    5,348
    
    
    $
    7,413Adjustments to reconcile net income to net cash provided
by operating activities:Depreciation and amortization
    
    
    1,594
    
    
    
    1,373Amortization of deferred bank financing fees
    
    
    
    
    
    
    10Provision for losses on accounts receivable
    
    
    1,016
    
    
    
    217Stock option compensation
    
    
    746
    
    
    
    607Deferred income taxes
    
    
    553
    
    
    
    574Non-cash rent expense
    
    
    71
    
    
    
    23(Gain) loss on disposal of property and equipment
    
    
    (2
    )
    
    
    (16
    )Changes in current operating assets and liabilities:Accounts receivable
    
    
    (172
    )
    
    
    (8,314
    )Prepaids and other current assets
    
    
    73
    
    
    
    787Accounts payable and accrued liabilities
    
    
    (10,882
    )
    
    
    (1,713
    )Net cash (used in) provided by operating activities
    
    
    (1,655
    )
    
    
    961INVESTING ACTIVITIESPurchase of property and equipment
    
    
    (1,746
    )
    
    
    (1,470
    )Acquisition of customer lists
    
    
    
    
    
    
    (657
    )Withdrawal (purchase) of investments
    
    
    676
    
    
    
    (261
    )Net cash used in investing activities
    
    
    (1,070
    )
    
    
    (2,388
    )FINANCING ACTIVITIESProceeds from stock option exercise
    
    
    
    
    
    
    893Tax benefit realized by exercise of stock options
    
    
    
    
    
    
    148Purchase and retirement of treasury stock
    
    
    (10,597
    )
    
    
    Other assets and deferred financing fees
    
    
    532
    
    
    
    (340
    )Net cash (used in) provided by financing activities
    
    
    (10,065
    )
    
    
    701EFFECT OF EXCHANGE RATES ON CASH
    
    
    (2,364
    )
    
    
    441NET DECREASE IN CASH AND CASH EQUIVALENTS
    
    
    (15,154
    )
    
    
    (285
    )CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
    
    
    19,888
    
    
    
    8,857CASH AND CASH EQUIVALENTS, END OF PERIOD
    
    $
    4,734
    
    
    $
    8,572SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATIONCash paid for interest
    
    $
    31
    
    
    $
    86Cash paid for taxes
    
    $
    4,291
    
    
    $
    4,268
  4




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DYNAMEX INC.
 
 Notes to Condensed Consolidated Financial Statements (Unaudited)
 1. Summary of Significant Accounting Polices
 Description of Business
 Basis of presentation 
   Business and credit concentrations 
   Other assets  Recoverable contract contingency costs
 Other long-term liabilities
 5




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DYNAMEX INC.
   2. Comprehensive Income
  Three months ended
    
    
    Six months endedJanuary 31,
    
    
    January 31,2009
    
    
    2008
    
    
    2009
    
    
    2008Net income
    
    $
    2,304
    
    
    $
    3,419
    
    
    $
    5,348
    
    
    $
    7,413Foreign currency translation gains (losses)
    
    
    (723
    )
    
    
    (1,722
    )
    
    
    (4,532
    )
    
    
    1,361Unrealized losses on investments
    
    
    (20
    )
    
    
    (106
    )
    
    
    (132
    )
    
    
    (14
    )Comprehensive income
    
    $
    1,561
    
    
    $
    1,591
    
    
    $
    684
    
    
    $
    8,760
 3. Intangibles  net
  AccumulatedAsset
    
    
    amortization
    
    
    NetDeferred bank financing fees
    
    $
    138
    
    
    $
    (133
    )
    
    $
    5Customer lists
    
    
    511
    
    
    
    (127
    )
    
    
    384Trademarks and other
    
    
    470
    
    
    
    (195
    )
    
    
    275Total
    
    $
    1,119
    
    
    $
    (455
    )
    
    $
    664
 Amortization expense
    
    
    Amortization expenseThree months ended January 31,
    
    
    Six months ended January 31,2009
    
    
    2008
    
    
    2009
    
    
    2008Deferred bank financing fees
    
    $
    
    
    
    $
    2
    
    
    $
    
    
    
    $
    10Customer lists
    
    
    40
    
    
    
    41
    
    
    
    75
    
    
    
    64Trademarks and other
    
    
    4
    
    
    
    4
    
    
    
    9
    
    
    
    9Total
    
    $
    44
    
    
    $
    47
    
    
    $
    84
    
    
    $
    83
 6




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DYNAMEX INC.
 4. Computation of Earnings Per Share
 Earnings Per Share
 Three months ended
    
    
    Six months endedJanuary 31,
    
    
    January 31,2009
    
    
    2008
    
    
    2009
    
    
    2008Net income
    
    $
    2,304
    
    
    $
    3,419
    
    
    $
    5,348
    
    
    $
    7,413Weighted average common shares outstanding
    
    
    9,747
    
    
    
    10,232
    
    
    
    9,848
    
    
    
    10,203Common share equivalents related to options
    
    
    21
    
    
    
    110
    
    
    
    54
    
    
    
    106Common shares and common share equivalents
    
    
    9,768
    
    
    
    10,342
    
    
    
    9,902
    
    
    
    10,309Net income per common share:Basic
    
    $
    0.24
    
    
    $
    0.33
    
    
    $
    0.54
    
    
    $
    0.73Diluted
    
    $
    0.24
    
    
    $
    0.33
    
    
    $
    0.54
    
    
    $
    0.72
 5. Repurchase of Equity Securities
  6. Contingencies
  7




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DYNAMEX INC.
      8




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DYNAMEX INC.
   7. Income Taxes
  9




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DYNAMEX INC.
 
 Item 2.
 Managements Discussion and Analysis of Financial Condition and Results of Operations
 This discussion contains forward-looking statements, which involve assumptions regarding Company
operations and future prospects. Although the Company believes its expectations are based on
reasonable assumptions, such statements are subject to risk and uncertainty, including, among other
things, competition, foreign exchange, and risks associated with the same-day transportation
industry. These and other risks are mentioned from time to time in the Companys filings with the
Securities and Exchange Commission. Caution should be taken that these factors could cause the
actual results to differ from those stated or implied in this and other Company communications.
 General
        10




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DYNAMEX INC.
 Critical Accounting Policies
  Recent Accounting Pronouncements
       11




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DYNAMEX INC.
   12




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DYNAMEX INC.
 Results of Operations
  Three months ended
    
    
    Six months endedJanuary 31,
    
    
    January 31,2009
    
    
    2008
    
    
    2009
    
    
    2008Sales
    
    
    100.0
    %
    
    
    100.0
    %
    
    
    100.0
    %
    
    
    100.0
    %Cost of sales:Purchased transportation
    
    
    64.4
    %
    
    
    65.7
    %
    
    
    64.9
    %
    
    
    65.9
    %Other direct costs
    
    
    9.6
    %
    
    
    7.6
    %
    
    
    8.7
    %
    
    
    7.5
    %Cost of sales
    
    
    74.0
    %
    
    
    73.3
    %
    
    
    73.6
    %
    
    
    73.4
    %Gross profit
    
    
    26.0
    %
    
    
    26.7
    %
    
    
    26.4
    %
    
    
    26.6
    %Selling, general and administrative expenses:Salaries and employee benefits
    
    
    15.5
    %
    
    
    15.1
    %
    
    
    15.5
    %
    
    
    14.8
    %Other
    
    
    6.4
    %
    
    
    6.2
    %
    
    
    6.1
    %
    
    
    6.0
    %Selling, general and administrative expenses
    
    
    21.9
    %
    
    
    21.3
    %
    
    
    21.6
    %
    
    
    20.8
    %Depreciation and amortization
    
    
    0.8
    %
    
    
    0.6
    %
    
    
    0.7
    %
    
    
    0.6
    %(Gain) loss on disposal of property and equipment
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %Operating income
    
    
    3.3
    %
    
    
    4.8
    %
    
    
    4.1
    %
    
    
    5.2
    %Interest expense
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.1
    %Other income, net
    
    
    -0.3
    %
    
    
    -0.2
    %
    
    
    -0.1
    %
    
    
    -0.1
    %Income before income taxes
    
    
    3.6
    %
    
    
    5.0
    %
    
    
    4.2
    %
    
    
    5.2
    %Income taxes
    
    
    1.1
    %
    
    
    1.8
    %
    
    
    1.7
    %
    
    
    2.0
    %Net income
    
    
    2.5
    %
    
    
    3.2
    %
    
    
    2.5
    %
    
    
    3.2
    %
 13




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DYNAMEX INC.
  Three months endedJanuary 31,2009
    
    2008Sales by service type:On demand
    
    $
    30,964
    
    
    
    31.7
    %
    
    $
    36,840
    
    
    
    32.9
    %Scheduled/distribution
    
    
    66,593
    
    
    
    68.3
    %
    
    
    75,117
    
    
    
    67.1
    %Total sales
    
    $
    97,557
    
    
    
    100.0
    %
    
    $
    111,957
    
    
    
    100.0
    %Sales by country:United States
    
    $
    62,674
    
    
    
    64.2
    %
    
    $
    68,157
    
    
    
    60.9
    %Canada
    
    
    34,883
    
    
    
    35.8
    %
    
    
    43,800
    
    
    
    39.1
    %Total sales
    
    $
    97,557
    
    
    
    100.0
    %
    
    $
    111,957
    
    
    
    100.0
    %
 Six months endedJanuary 31,2009
    
    
    2008Sales by service type:On demand
    
    $
    68,667
    
    
    
    32.2
    %
    
    $
    74,100
    
    
    
    33.1
    %Scheduled/distribution
    
    
    144,342
    
    
    
    67.8
    %
    
    
    149,609
    
    
    
    66.9
    %Total sales
    
    $
    213,009
    
    
    
    100.0
    %
    
    $
    223,709
    
    
    
    100.0
    %Sales by country:United States
    
    $
    135,035
    
    
    
    63.4
    %
    
    $
    137,640
    
    
    
    61.5
    %Canada
    
    
    77,974
    
    
    
    36.6
    %
    
    
    86,069
    
    
    
    38.5
    %Total sales
    
    $
    213,009
    
    
    
    100.0
    %
    
    $
    223,709
    
    
    
    100.0
    %
 Three months ended January 31, 2009 compared to three months ended January 31, 2008
     14




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DYNAMEX INC.
      Six months ended January 31, 2009 compared to six months ended January 31, 2008
       15




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DYNAMEX INC.
   Liquidity and Capital Resources
      Compliance Area
    
    Covenant
    
    Level at January 31, 2009Ratio of funded debt to EBITDA
    
    Maximum of 2.00 to 1.00
    
    0.26 to 1.00Total indebtedness
    
    $40 million, including LOCs
    
    $7.2 millionLetters of credit sublimit
    
    $10.0 million
    
    $7.2 millionTreasury stock purchases 
during the subject period
    
    Ratio of funded debt to EBITDA
maximum of 1.50 to 1.00; based on
pro forma effect of treasury stock
purchases
    
    0.26 to 1.00Fixed charge coverage ratio
    
    Equal to or greater than 1.35 to 1.00
    
    9.03 to 1.00
 16




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DYNAMEX INC.
  Three months ended
    
    
    Six months endedJanuary 31,
    
    
    January 31,2009
    
    
    2008
    
    
    2009
    
    
    2008Net income
    
    $
    2,304
    
    
    $
    3,419
    
    
    $
    5,348
    
    
    $
    7,413Adjustments:Income tax expense
    
    
    1,117
    
    
    
    1,973
    
    
    
    3,599
    
    
    
    4,384Interest expense
    
    
    43
    
    
    
    54
    
    
    
    81
    
    
    
    132Depreciation and amortization
    
    
    811
    
    
    
    702
    
    
    
    1,594
    
    
    
    1,373EBITDA
    
    $
    4,275
    
    
    $
    6,148
    
    
    $
    10,622
    
    
    $
    13,302EBITDA margin
    
    
    4.4
    %
    
    
    5.5
    %
    
    
    5.0
    %
    
    
    5.9
    %
  Inflation
  17




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DYNAMEX INC.
 
 Item 3. Quantitative and Qualitative Disclosures About Market Risk
 Foreign Exchange Exposure
   Interest Rate Exposure
  18




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DYNAMEX INC.
 
 Item 4. Controls and Procedures
   19




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DYNAMEX INC.
 
 PART II
OTHER INFORMATION
 
 Item 1. Legal Proceedings
    20




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DYNAMEX INC.
      
 Item 1A. Risk Factors.
 In addition to other information in this report, the following risk factors should be considered
carefully in evaluating the Company and its business. This report contains forward-looking
statements, which involve risks and uncertainties. The Companys actual results could differ
materially from those anticipated in these forward-looking statements as a result of certain
factors, including those set forth in the following risk factors and elsewhere in this report.
 The Global Economic Crisis Could Adversely Affect the Companys Business and Financial Results
and have a Material Adverse Affect on our Liquidity and Capital Resources
  Competition May Adversely Affect Our Results
  21




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DYNAMEX INC.
  An Increase in Claims May Expose Us to Losses
  We Rely on Independent Contractor Owner-Operator Drivers to Make Deliveries for Our Customers
    We May Be Adversely Affected by Local Delivery Industry and General Economic Conditions
  22




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DYNAMEX INC.
 Fluctuations of Foreign Exchange Rates May Adversely Affect Our Results
  Failure to Maintain Permits and Licensing May Adversely Affect Our Ability to Operate
  We Depend Upon Key Personnel for Our Continued Operations
  Technological Advances May Adversely Affect Our Business
  We Are Highly Dependent Upon Our Technology Infrastructure
  We Are Dependent on Availability of Qualified Delivery Personnel
  23




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##### Table of Contents



DYNAMEX INC.
 We May Need Additional Financing to Pursue Our Acquisition Strategy
  Factors Beyond Our Control May Affect the Volatility of Our Stock Price
  Changing Fuel Costs May Adversely Affect Our Financial Condition and Results of Operations
  24




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DYNAMEX INC.
 
 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
 (c) Common Stock Repurchases
 Total number
    
    Average
    
    Total number of
    
    Approximate dollar valueof shares
    
    price paid
    
    shares purchased as part of
    
    of shares that may yet bePeriod
    
    purchased
    
    per share
    
    a publicly announced plan
    
    purchased under the planNovember 1 to
November 30, 2008
    
    
    132,800
    
    
    $
    16.61
    
    
    
    132,800
    
    
    $28.0 millionDecember 1 to
December 31, 2008
    
    
    
    
    
    $
    
    
    
    
    
    
    
    $28.0 millionJanuary 1 to January
31, 2009
    
    
    
    
    
    $
    
    
    
    
    
    
    
    $28.0 million
  
 Item 4. Submission of Matters to a Vote of Security Holders
  Proposal #1
    
    To elect seven (7) directors of the Company
 Nominee
    
    For
    
    WithheldRichard K. McClelland
    
    
    9,382,176
    
    
    
    84,061Brian J. Hughes
    
    
    9,312,636
    
    
    
    153,601Wayne Kern
    
    
    6,374,371
    
    
    
    3,091,866Bruce E. Ranck
    
    
    9,407,543
    
    
    
    58,694Stephen P. Smiley
    
    
    9,312,561
    
    
    
    153,676Craig R. Lentzsch
    
    
    9,407,543
    
    
    
    58,694James L. Welch
    
    
    9,315,983
    
    
    
    150,254
 Proposal #2
    
    To ratify the appointment of BDO Seidman, LLP as independent auditors of the
Company for the year ending July 31, 2009
 For
    
    Against
    
    Abstain9,401,332
    
    
    62,858
    
    
    
    2,047
 25




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##### Table of Contents



DYNAMEX INC.
 
 Item 6. Exhibits
  10.14
    
    Eighth Amendment to the $40,000,000 Revolving Credit Facility
by and among the Company and Bank of America, N.A., as administrative agent and
a lender, dated January 26, 200931.1
    
    Certification of Chief Executive Officer of the Registrant,
pursuant to 17 CFR 240. 13a  15(e) or 17 CFR 240. 15d  15(e)31.2
    
    Certification of Chief Financial Officer of the Registrant,
pursuant to 17 CFR 240. 13a  15(e) or 17 CFR 240. 15d  15(e)32.1
    
    Certification of Chief Executive Officer of the Registrant,
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 200232.2
    
    Certification of Chief Financial Officer of the Registrant,
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
 
 26




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##### Table of Contents



DYNAMEX INC.
 
 
 SIGNATURES
  DYNAMEX INC.Dated:
March 12, 2009
    
    by
    
    /s/ James L. WelchJames L. WelchPresident and Chief Executive Officer(Principal Executive Officer)Dated:
March 12, 2009
    
    by
    
    /s/ Ray E. SchmitzRay E. SchmitzVice President  Chief Financial Officer(Principal Financial Officer)Dated:
March 12, 2009
    
    by
    
    /s/ Gilbert JonesGilbert JonesCorporate Controller(Principal Accounting Officer)
 27




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##### Table of Contents



DYNAMEX INC.
 
 EXHIBIT INDEX
 Exhibits
 10.14
    
    Eighth Amendment to the $40,000,000 Revolving Credit Facility by and among the Company and
Bank of America, N.A., as administrative agent and a lender, dated January 26, 200931.1
    
    Certification of Chief Executive Officer of the Registrant, pursuant to 17 CFR 240. 13a -
15(e) or 17 CFR 240. 15d  15(e)31.2
    
    Certification of Chief Financial Officer of the Registrant, pursuant to 17 CFR 240. 13a -
15(e) or 17 CFR 240. 15d  15(e)32.1
    
    Certification of Chief Executive Officer of the Registrant, pursuant to 18 U.S.C. Section
1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 200232.2
    
    Certification of Chief Financial Officer of the Registrant, pursuant to 18 U.S.C. Section
1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 E-1