Target Logistics’ Fiscal 3Q Income Improves

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reight forwarder Target Logistics said Wednesday it earned $610,000 or 3 cents a share for its third quarter ended March 31, up from $265,000 or 1 cent a year earlier.

Revenue rose 18.2% to $37.1 million and operating income jumped 135% to $1.1 million, the company said in a statement.

The company converted all of its Class C preferred stock to common stock in March, Chief Financial Officer Philip Dubato said.