Summary of JANEL WORLD TRADE LTD

Item 7.01 REGULATION FD DISCLOSURE

On May 16, 2008, Janel World Trade, Ltd. issued a press release on the subject of its consolidated financial results for three and six month periods of the second quarter of fiscal 2008, which ended March 31, 2008. A copy of that press release is attached to this report as Exhibit 99.1. The press release contains a "non-GAAP financial measure" as defined in Item 10 of Regulation S-K under the Securities Exchange Act of 1934.

The press release included the financial statement for second quarter of fiscal 2008 ended March 31, 2008, and highlighted the GAAP measures of interest expense, income tax expense, depreciation expense, amortization expense, and net income for the 2007 and 2008 periods.

The non-GAAP financial measure consists of a brief discussion of "EBITDA" (earnings before interest, taxes, depreciation and amortization). EBITDA for the three month period decreased by approximately 73%, while the GAAP measures of revenue decreased by approximately 0.01%, from $18,281,961 to $18,303,590; forwarding expense decreased by approximately 2.5%; selling, general and administrative expense increased by approximately 23.8%; income before taxes of $64,018 declined to a loss before taxes of ($198,920); and net income of $33,685 declined to a net loss of ($166,570). EBITDA for the six month period ended March 31, 2008 increased by approximately 50%, while the GAAP measures of revenue for the six month period increased by approximately 9.5%, from $35,031,349 to $38,349,307; forwarding expense increased by approximately 7.5%; selling, general and administrative expense increased by approximately 24.3%; income before taxes of $156,216 declined to a loss before taxes of ($158,771); and net income of $85,883 declined to a net loss of ($148,271).

Management believes that the information contained in the press release reconciles the non-GAAP financial measure with the most directly comparable GAAP financial measures, and that the press release provides useful information to investors to aid them in understanding the presentation of Janel's consolidated financial results for the three month period ended March 31, 2008, because the non-GAAP financial measure highlights the impact of a $161,813 increase in non-cash amortization of intangible assets, $10,797 in higher depreciation expense and a $29,343 increase in interest expense.

In accordance with General Instructions B.2 and B.6 of Form 8-K, the information in this Item 7.01 and in Exhibit 99.1 shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise be subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information in this report which is required to be disclosed solely by Regulation FD, nor shall the information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent expressly set forth by specific reference in such a filing.