Radiant Logistics Announces Results For The First Fiscal Quarter Ended September 30, 2019
Reports quarterly results with revenues of $200.5 Million; Net revenues of $55.5 million, up $0.6 million or 1.1%; Net income of $3.2 million, up $0.6 million or 23.1%; and Adjusted EBITDA of $9.7 million, up $0.9 million or 10.2%
First Fiscal Quarter Financial Highlights (Quarter Ended September 30, 2019)
- Revenues decreased to $200.5 million for the first fiscal quarter ended September 30, 2019, down $18.4 million or 8.4%, compared to revenues of $218.9 million for the comparable prior year period.
- Net revenues increased to $55.5 million for the first fiscal quarter ended September 30, 2019, up $0.6 million or 1.1%, compared to net revenues of $54.9 million for the comparable prior year period.
- Net income attributable to common stockholders increased to $3.2 million, or $0.07 per basic and $0.06 per fully diluted share, compared to net income attributable to common stockholders of $2.6 million, or $0.05 per basic and fully diluted share for the comparable prior year period.
- Adjusted net income attributable to common stockholders, a non-GAAP financial measure, increased to $6.5 million, or $0.13 per basic and fully diluted share for the first fiscal quarter ended September 30, 2019, compared to adjusted net income attributable to common stockholders of $5.4 million, or $0.11 per basic and fully diluted share for the comparable prior year period. Adjusted net income attributable to common stockholders is calculated by applying a normalized tax rate of 24.5% and excluding other items not considered part of regular operating activities.
- Adjusted EBITDA increased to $9.7 million for the first fiscal quarter ended September 30, 2019, up $0.9 million or 10.2%, compared to adjusted EBITDA of $8.8 million for the comparable prior year period. Adjusted EBITDA margin (expressed as a function of net revenues) increased 137 basis points to 17.4% for the first fiscal quarter ended September 30, 2019, compared to Adjusted EBITDA margin of 16.1% for the comparable prior year period.
About Radiant Logistics, Inc.
Radiant Logistics, Inc. (www.radiantdelivers.com) is a comprehensive North American provider of third-party logistics and multimodal transportation services. Through its comprehensive service offering, Radiant provides domestic and international freight forwarding services, truck and rail brokerage services and other value-added supply chain management services, including customs brokerage, order fulfillment, inventory management and warehousing to a diversified account base including manufacturers, distributors and retailers using a network of independent carriers and international agents positioned strategically around the world.