Radiant Logistics Posts $396,000 Profit, Beating 2016 Levels
Radiant Logistics made $396,000 in profit in the fiscal third quarter, representing January through March 2017, reversing a $2.2 million loss one year ago.
On a per-share basis, Radiant earned a penny compared with a nickel loss in 2016.
Net revenue, or the amount after the third-party logistics provider paid for transportation costs, increased 9.3% to $45.7 million.
“We are very pleased to report another solid quarter with continued margin expansion and earnings growth in our seasonally slowest quarter ended March 31, 2017,” founder and CEO Bohn Crain said. “While our U.S. brokerage business was negatively impacted by the continued margin pressures associated with excess truck capacity in the current market environment, this was more than offset by the margin improvement we enjoyed in our much larger forwarding operations. We also saw meaningful improvement in Canada, where net transportation margins improved 430 basis points to 17.8% up from 13.5%.”
In April, Radiant Logistics acquired, through Lomas Logistics, its wholly owned subsidiary, a third-party logistics provider for consumer goods, health care, food and technology in Ontario and British Columbia.
Radiant isn’t on the Transport Topics Top 50 list of the largest logistics companies in North America, but it ranks No. 36 on the sector list of the top freight brokerage firms.