Radiant Logistics Announces Financial Results for the First Fiscal Quarter
Quarter Ended September 30, 2017
BELLEVUE, WA November 9, 2017 – Radiant Logistics, Inc. (NYSE American: RLGT), a third-party logistics and multi-modal transportation services company, today reported financial results for the three months ended September 30, 2017.
First Fiscal Quarter Financial Highlights (Quarter Ended September 30, 2017)
- Revenues were $198.0 million for the first fiscal quarter ended September 30, 2017, up $2.9 million or 1.5% compared to revenues of $195.1 million for the comparable prior year period.
- Net revenues were $46.1 million for the first fiscal quarter ended September 30, 2017, down $2.9 million or 5.9% compared to net revenues of $49.0 million for the comparable prior year period.
- Net income attributable to common stockholders was $0.3 million, or $0.01 per basic and fully diluted share, compared to a net income of $1.4 million, or $0.03 per basic and fully diluted share for the comparable prior year period and includes $0.3 million in customer start-up costs associated with the Company’s expanded materials management and distribution (“MM&D”) solution offering in Canada.
- Adjusted net income attributable to common stockholders was $2.7 million, or $0.05 per basic and fully diluted share for the first fiscal quarter ended September 30, 2017, compared to adjusted net income of $4.0 million, or $0.08 per basic and fully diluted share for the comparable prior year period.
- Adjusted EBITDA was $6.5 million for the first fiscal quarter ended September 30, 2017, down $0.8 million or 11.0% compared to adjusted EBITDA of $7.3 million for the comparable prior year period.
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About Radiant Logistics, Inc.
Radiant Logistics, Inc. (www.radiantdelivers.com) (NYSE American: RLGT) is a publicly traded third party logistics company providing technology-enabled global transportation and value added logistics solutions primarily to customers based in the United States and Canada. Through its comprehensive service offering, Radiant provides domestic and international freight forwarding along with truck and rail brokerage services to a diversified account base including manufacturers, distributors and retailers which it supports from an extensive network of Radiant and agent-owned offices throughout North America and other key markets around the world. Radiant's value-added logistics services include warehouse and distribution, customs brokerage, order fulfillment, inventory management and technology services.