Radiant Logistics : Announces Results for the Fourth Fiscal Quarter and Year Ended June 30, 2016
September 13, 2016 at 04:10 pm EDT
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BELLEVUE, WA September 13, 2016 - Radiant Logistics, Inc. (NYSE MKT: RLGT), a third party logistics and multi-modal transportation services company, today reported financial results for the three and twelve months ended June 30, 2016.
Fiscal Year Financial Highlights (Year Ended June 30, 2016)
Revenues were $782.5 million for the fiscal year ended June 30, 2016, up $279.8 million or 55.7% compared to revenues of $502.7 million for the comparable prior year period.
Net revenues increased to $186.7 million for the fiscal year ended June 30, 2016, up $63.0 million or 50.9% compared to net revenues of $123.7 million for the comparable prior year period.
Net loss attributable to common stockholders was $5.6 million, or $0.11 per basic and fully diluted share for the fiscal year ended June 30, 2016, compared to net income of $3.8 million, or $0.11 per basic and $0.10 per fully diluted share, for the comparable prior year period.
Adjusted net income attributable to common stockholders was $11.8 million for the fiscal year ended June 30, 2016, up $5.0 million or 72.8% compared to adjusted net income attributable to common stockholders of $6.8 million 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 to $24.4 million for the fiscal year ended June 30, 2016, up $7.1 million or 41.3%, compared to adjusted EBITDA of $17.3 million for the comparable prior year period. Normalizing these results to exclude $2.4 million in non-recurring transition costs associated with the interim operation of Service By Air's back-office operations, Adjusted EBITDA would have been $26.8 million for the fiscal year ended June 30, 2016, compared to $17.4 million for comparable prior year period.
Cash from operations increased to $21.4 million for the fiscal year ended June 30, 2016, up $19.3 million or over 900% compared to cash from operations of $2.1 million for the comparable prior year period.
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Radiant Logistics Inc. published this content on 13 September 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 September 2016 20:10:05 UTC.
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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. 
