Radiant Logistics Announces Results for the Second Fiscal Quarter
Quarter Ended December 31, 2017
BELLEVUE, WA February 8, 2018 – Radiant Logistics, Inc. (NYSE American: RLGT), a third-party logistics and multi-modal transportation services company, today reported financial results for the three and six months ended December 31, 2017.
Second Fiscal Quarter Financial Highlights (Quarter Ended December 31, 2017)
- Revenues were $206.7 million for the second fiscal quarter ended December 31, 2017, up $7.8 million or 3.9% compared to revenues of $198.9 million for the comparable prior year period. Sequentially, revenues were up $8.7 million or 4.4% compared to revenues of $198.0 million for the quarter ended September 30, 2017.
- Net revenues were $47.9 million for the second fiscal quarter ended December 31, 2017, down $2.2 million, or 4.4% compared to net revenues of $50.1 million for the comparable prior year period. Sequentially, net revenues were up $1.8 million or 3.9% compared to net revenues of $46.1 million for the quarter ended September 30, 2017.
- Net income attributable to common stockholders was $3.3 million, or $0.07 per basic and fully diluted share, compared to a net income of $2.1 million, or $0.04 per basic and fully diluted share for the comparable prior year period, including a one-time benefit of $2.3 million related to a re-measurement of deferred tax liabilities as a result of the recently enacted Tax Cuts and Jobs Act. Sequentially, net income improved up $3.0 million or 1000.0% compared to net income of $0.3 million for the quarter ended September 30, 2017.
- Adjusted net income attributable to common stockholders was $3.6 million, or $0.07 per basic and fully diluted share for the second fiscal quarter ended December 31, 2017, compared to adjusted net income of $5.4 million, or $0.11 per basic and fully diluted share for the comparable prior year period. Sequentially, adjusted net income attributable to common stockholders was up $0.7 million or 24.1% compared to adjusted net income of $2.9 million for the quarter ended September 30, 2017. Periods are calculated by applying a normalized tax rate of 31% and excluding other items not considered part of regular operating activities.
- Adjusted EBITDA was $7.1 million for the second fiscal quarter ended December 31, 2017, down $1.8 million or 20.2% compared to adjusted EBITDA of $8.9 million for the comparable prior year period. Sequentially, adjusted EBITDA was up $0.6 million or 9.2% compared to adjusted EBITDA of $6.5 million for the quarter ended September 30, 2017.
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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.