Radiant Logistics : Announces Results for the First Fiscal Quarter Ended September 30, 2015
November 16, 2015 at 04:26 pm EST
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BELLEVUE, WA November 16, 2015 - Radiant Logistics, Inc. (NYSE MKT: RLGT), a third party logistics and multi-modal transportation services company, today reported financial results for the three months ended September 30, 2015.
First Fiscal Quarter Financial Highlights (Quarter Ended September 30, 2015)
Revenues increased to $218.7 million, up $120.5 million, or 122.7% compared to revenues of $98.2 million for the comparable prior year period.
Net revenues increased to $50.7 million, up $24.4 million, or 92.6% compared to net revenues of $26.3 million for the comparable prior year period.
Net loss attributable to common stockholders was $0.2 million (including $1.0 million in acquisition costs related to Wheels and other transactions), or $0.00 per basic and fully diluted share, for the first fiscal quarter of 2016, compared to net income of $1.0 million, or $0.03 per basic and fully diluted share, for the comparable prior year period.
Adjusted net income attributable to common stockholders was $4.2 million, or $0.08 per basic and fully diluted share, for the first fiscal quarter of 2016, compared to adjusted net income attributable to common stockholders of $1.7 million, or $0.05 per basic and fully diluted share, for the comparable prior year period. Both periods are calculated by applying a normalized tax rate of 36% and excluding other items not considered part of regular operating activities.
Adjusted EBITDA increased 128.0% to $8.2 million for the first fiscal quarter of 2016, compared to adjusted EBITDA of $3.6 million in the comparable prior year period. Normalizing these results to exclude $0.6 million in non-recurring transition costs associated with the interim operation of Service By Air's back-office operations, Adjusted EBITDA would have been $8.8 million for the first fiscal quarter of fiscal 2016.
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Radiant Logistics, Inc. operates as a third-party logistics company, providing technology-enabled global transportation and value-added logistics services in the United States and Canada. It provides domestic and international freight forwarding along with truck and rail brokerage services to a diversified account base, including manufacturers, distributors and retailers that have agent-owned offices throughout North America and other markets around the world. Its value-added logistics services include warehouse and distribution, customs brokerage, order fulfillment, inventory management, and technology services. It serves various industries, such as consumer goods, food and beverage, electronics and high-tech, aviation and automotive, military and government, and manufacturing and retail customers. As a third-party logistics provider, its primary business operations involve arranging the shipment, on behalf of its customers, of materials, products, equipment and other goods.
RADIANT LOGISTICS, INC. 
