Radiant Logistics, a third-party provider of airfreight and other services, said its fiscal fourth-quarter net income was $581,697, or 2 cents a share, down from $844,278, or 3 cents a share, a year earlier.
Radiant said in a statement the results for the period ended June 30 included $139,000 in one-time costs, as well as $583,000 in expenses related to an acquisition.
The company, whose brands include Distribution By Air, Airgroup, Adcom Worldwide and Radiant, said revenue increased by nearly 75% to $70.9 million in its fourth quarter, and net revenue, or sales minus the cost of transportation, increased more than 60% to $21.2 million.
For the full year, net income was $2.86 million or 9 cents a share on $203.8 million of revenue. The company expects earnings to improve to $3.8 million in 2012.
Radiant also announced the opening of a new office in Nogales, Ariz.