Target Logistics' Fiscal 1Q Income Gains

November 1, 2005 9:00 AM, EST

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reight forwarder Target Logistics on Tuesday reported net income for its fiscal first quarter ended Sept. 30 was $477,078 or 2 cents a share, up from $245,723 or 1 cent a year earlier.

Operating income was $880,519, up 76% from the previous first quarter.

In fiscal 2005, the company’s revenue grew 9.8% and its earnings grew 189%, it said in a statement.

For its 2006 fiscal year, which ends next June, the company expects its revenue to rise 10% to 12% and its net profit to rise 40% to 80%, Target said.