Radiant Logistics to Buy Back Stock

Radiant Logistics said that it will repurchase up to 5 million shares of its common stock through 2010.

The freight forwarding and logistics firm will use its revolving credit facility and future free cash flow in addition to existing cash for the transactions, it said in a statement Monday. Radiant had 34.7 million shares outstanding as of March 31.

The Bellevue, Wash. company will make purchases both in the open market and through negotiated transactions, it said. Securities laws allow the company discretion in timing, pricing and other details of stock repurchasing.

The buy back opportunity “represents an excellent investment opportunity for both the company and our shareholders,” Chairman Bohn Crain said in the statement.