Radiant Logistics Announces Results for the Third Fiscal Quarter
Quarter Ended March 31, 2018
BELLEVUE, WA May 9, 2018 – Radiant Logistics, Inc. (NYSE American: RLGT), a third-party logistics and multimodal transportation services company, today reported financial results for the three and nine months ended March 31, 2018.
Third Fiscal Quarter Financial Highlights (Quarter Ended March 31, 2018)
- Revenues were $203.9 million for the third fiscal quarter ended March 31, 2018, up $22.1 million or 12.2% compared to revenues of $181.8 million for the comparable prior year period.
- Net revenues were $49.1 million for the third fiscal quarter ended March 31, 2018, up $3.4 million or 7.5% compared to net revenues of $45.7 million for the comparable prior year period.
- Net income attributable to common stockholders was $0.2 million, or $0.00 per basic and fully diluted share, compared to a net income of $0.4 million, or $0.01 per basic and fully diluted share for the comparable prior year period.
- Adjusted net income attributable to common stockholders was $2.7 million, or $0.05 per basic and fully diluted share for the third fiscal quarter ended March 31, 2018, compared to adjusted net income of $3.7 million, or $0.07 per basic and fully diluted share for the comparable prior year period. 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 $5.7 million for the third fiscal quarter ended March 31, 2018, down $0.8 million or 12.3% compared to adjusted EBITDA of $6.5 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.