Radiant Logistics, Inc., a third-party logistics and multimodal transportation services company, reported financial results for the three and six months ended December 31, 2018.
Record quarterly results with revenues of $260.9 million, up $54.2 million or 26.2%; Net revenues of $64.0 million, up $16.6 million or 35.0%; and Adjusted EBITDA of $12.5 million, up $5.4 million or 76.1%
Second Fiscal Quarter Financial Highlights (Quarter Ended December 31, 2018)
- Revenues increased to a record $260.9 million for the second fiscal quarter ended December 31, 2018, up $54.2 million or 26.2%, compared to revenues of $206.7 million for the comparable prior year period.
- Net revenues increased to a record $64.0 million for the second fiscal quarter ended December 31, 2018, up $16.6 million or 35.0%, compared to net revenues of $47.4 million for the comparable prior year period.
- Net income allocable to common stockholders increased to $3.8 million (including a charge of $1.7 million related to the redemption of the Company’s preferred stock), or $0.08 per basic and $0.07 per fully diluted share, compared to net income of $3.3 million, or $0.07 per basic and fully diluted share for the comparable prior year period.
- Adjusted net income allocable to common stockholders, a non-GAAP financial measure, increased to a record $8.2 million, or $0.16 per basic and fully diluted share for the second fiscal quarter ended December 31, 2018, compared to adjusted net income allocable to common stockholders of $3.6 million, or $0.07 per basic and fully diluted share for the comparable prior year period. Adjusted net income allocable to common stockholders is calculated by applying a normalized tax rate of 24.5% for the three months ended December 31, 2018 and 31.0% for the comparable prior year period and excluding other items not considered part of regular operating activities.
- Adjusted EBITDA increased to a record $12.5 million for the second fiscal quarter ended December 31, 2018, up $5.4 million or 76.1%, compared to adjusted EBITDA of $7.1 million for the comparable prior year period.
- Adjusted EBITDA margin (expressed as a function of net revenues) increased 440 basis points to a record 19.5% for the second fiscal quarter ended December 31, 2018, compared to Adjusted EBITDA margin of 15.1% for the comparable prior year period.
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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.
