Welcome to our dedicated page for Radiant Logistic news (Ticker: RLGT), a resource for investors and traders seeking the latest updates and insights on Radiant Logistic stock.
Radiant Logistics reports developments for a technology-enabled third-party logistics business that provides global transportation and value-added logistics services. The company offers domestic and international freight forwarding, truck and rail brokerage, warehouse and distribution, customs brokerage, order fulfillment, inventory management and logistics technology services to customers primarily in the United States, Canada and Mexico.
Recurring RLGT news includes quarterly financial results, acquisition and operating-network expansion, company-owned and agent-owned office activity, share repurchase authorizations and digital logistics initiatives such as the Navegate platform and the Ray AI agent. Company updates also cover international gateway expansion, including operations in Hong Kong, Shanghai and Shenzhen, as part of Radiant's freight forwarding and logistics network.
Radiant Logistics, Inc. (NYSE American: RLGT) announces the launch of a new Adcom location in Jacksonville, Florida. This expansion enhances Radiant's logistics capabilities by leveraging its technology platform and global network for domestic and international freight services. Led by industry veterans Sean Spillane and Jody Fooshe, the Jacksonville team aims to provide specialized solutions for diverse clients. The move signifies Radiant's commitment to supporting logistics entrepreneurs and integrating its new SAP TM platform to streamline operations.
Radiant Logistics reported its financial results for the first fiscal quarter ending September 30, 2020, with revenues of $175.9 million, down from $200.5 million year-over-year. Net income was $3.1 million or $0.06 per share, slightly lower than $3.2 million or $0.07 per share in the prior year. Adjusted net income remained steady at $6.5 million with an adjusted EBITDA of $9.2 million. The CEO noted the impact of COVID-19 but emphasized improvement in demand and strong operational cash flow of $13.4 million, alongside low debt levels.
Radiant Logistics (NYSE American: RLGT) will host a conference call on November 9, 2020, at 4:30 PM Eastern to discuss financial results for the three months ending September 30, 2020. The call is accessible to all interested parties, including investors and the press, and will be hosted by Bohn Crain, the CEO. A replay will be available starting November 10, 2020, until November 23, 2020. Interested participants can join via dial-in or listen to the webcast on the company website.
Radiant Logistics (RLGT) reported Q4 2020 revenues of $275.5 million, a record compared to $204.6 million in Q4 2019. Net income rose to $4.7 million, or $0.09 per share, consistent with the prior year. However, net revenues declined to $50.1 million from $58.5 million year-over-year. Adjusted net income reached a record $8.9 million, or $0.18 per share, up from $7.5 million. For the fiscal year, revenues fell to $855.2 million from $890.5 million, with a net income decrease to $10.5 million from $13.7 million. The company aims to restore salaries and has $34.8 million in cash, positioning it for recovery.
Radiant Logistics (NYSE American: RLGT) announced a conference call on September 28, 2020 at 4:30 PM Eastern to discuss its financial results for the fiscal year ending June 30, 2020. The call will be hosted by Bohn Crain, Founder and CEO, and is open to all interested parties, including investors and the press. A replay of the call will be available from September 29 to October 12, 2020. To join the call, dial US (844) 369-8700 or Intl. (862) 298-0840.
Radiant Logistics (NYSE American: RLGT) announced preliminary financial results for Q4 ended June 30, 2020, reporting record revenues of $275.5 million, up from $204.6 million year-over-year. Estimated net income reached $4.7 million or $0.09 per share, slightly above $4.5 million in the prior period. Adjusted net income surged to $8.9 million, with an adjusted EBITDA of $13.1 million and a margin of 26.2%. The company filed a Form 12b-25 for a 15-day extension to submit its Annual Report on Form 10-K, attributing the delay to COVID-19 challenges.