Radiant Logistics : Announces Results for the Second Fiscal Quarter Ended December 31, 2015
February 16, 2016 at 04:40 pm EST
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BELLEVUE, WA February 16, 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 six months ended December 31, 2015.
Second quarter Financial Highlights (Quarter Ended December 31, 2015)
Revenues increased to $207.0 million, up $101.0 million, or 95.3% compared to revenues of $105.9 million for the comparable prior year period.
Net revenues increased to $47.6 million, up $20.0 million, or 72.5%, compared to net revenues of $27.6 million for the comparable prior year period.
Net loss attributable to common stockholders was $2.5 million, or $0.05 per basic and fully diluted share for the second fiscal quarter of 2016, which included a $2.2 million net non-recurring non-cash impairment of acquired intangibles in connection with its acquisition of On Time Express Inc. ('OTE'), compared to net income of $0.3 million, or $0.01 per basic and fully diluted share, for the comparable prior year period.
Adjusted net income attributable to common stockholders was $3.0 million, or $0.06 per basic and fully diluted share for the second 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 65.0% to $6.2 million for the second fiscal quarter of 2016, compared to adjusted EBITDA of $3.7 million in the comparable prior year period. Normalizing these results to exclude $0.7 million in non-recurring transition costs associated with the interim operation of Service By Air's back-office operations, Adjusted EBITDA would have been $6.9 million for the second fiscal quarter of fiscal 2016.
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Radiant Logistics Inc. issued this content on 16 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 February 2016 21:39:35 UTC
Original Document: http://radiantdelivers.com/?p=4531
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. 
