Radiant Logistics Announces Results for First Fiscal Quarter Ended September 30, 2013
Posts quarterly results with Adjusted EBITDA of $3.1 Million – Up $0.6 Million and 23.5%; Margin Expansion with Adjusted EBITDA as a Percentage of Net Revenues Up 200 bps at 13.3%
BELLEVUE, WA November 13, 2013 – Radiant Logistics, Inc. (NYSE MKT: RLGT), a domestic and international logistics services company, today reported financial results for the three months ended September 30, 2013.
First Fiscal Quarter Financial Highlights (Quarter Ended September 30, 2013)
- Net income attributable to common shareholders increased 171.0% to $1.1 million on $76.7 million of revenues, or $0.03 per basic and diluted share, for the first fiscal quarter of 2014, compared to net income of $0.4 million on $79.1 million of revenues, or $0.01 per basic and diluted share, for the comparable prior year period.
- Adjusted EBITDA increased 23.5% to $3,096,000 for the first fiscal quarter of 2014, compared to adjusted EBITDA of $2,506,000 in the comparable prior year period.
- Adjusted EBITDA margin (expressed as a function of net revenues) increased 200 basis points to 13.3% for the first fiscal quarter of 2014, compared to Adjusted EBITDA margin of 11.3% in the comparable prior year period.
- The Company reduced its cost of debt, using expanded BofA facility to pay down $2.0 million of $10.0 million in sub debt effectively refinancing $2.0 million at a rate of approximately 4% rather than 13.5%.