Financial Notices

Radiant Logistics Announces Results For The First Fiscal Quarter Ended September 30, 2020

Reports quarterly revenues of $175.9 million; Financial impact of COVID-19 largely mitigated through cost saving and other strategic initiatives; Non-asset based variable cost model, diverse service offerings, and low debt levels demonstrate Company flexibility to navigate impact of pandemic

BELLEVUE, WA November 9, 2020 – Radiant Logistics, Inc. (NYSE American: RLGT), a third-party logistics and multimodal transportation services company, today reported financial results for the three months ended September 30, 2020.

Financial Highlights – Three Months Ended September 30, 2020

  • Revenues reported at $175.9 million for the first fiscal quarter ended September 30, 2020, compared to revenues of $200.5 million for the comparable prior year period.
  • Net revenues, a non-GAAP financial measure, reported at $46.0 million for the first fiscal quarter ended September 30, 2020, compared to net revenues of $55.5 million for the comparable prior year period.
  • Net income reported at $3.1 million, or $0.06 per basic and fully diluted share, compared to net income of $3.2 million, or $0.07 per basic and $0.06 per fully diluted share for the comparable prior year period.
  • Adjusted net income, a non-GAAP financial measure, reported at $6.5 million, or $0.13 per basic and fully diluted share for the first fiscal quarter ended September 30, 2020, compared to adjusted net income of $6.5 million, or $0.13 per basic and fully diluted share for the comparable prior year period. Adjusted net income is calculated by applying a normalized tax rate of 24.5% and excluding other items not considered part of regular operating activities.
  • Adjusted EBITDA, a non-GAAP financial measure, reported at $9.2 million for the first fiscal quarter ended September 30, 2020, compared to adjusted EBITDA of $9.7 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.