Target Logistics Reports Record Profit, Revenue in 2005

reight forwarder Target Logistics said Wednesday net income for its fiscal year ended June 30 increased 73% to $2.7 million or 13 cents a share, up from $1.56 million or 7 cents in 2005.

Revenue rose 16% for the year to $37.1 million and operating income increased to $1.02 million from $860,000 in 2005, the company said in a statement.

Target Logistics earned $642,564 or 3 cents a share in its fourth quarter ended June 30, up from $505,280 or 2 cents a year earlier.

In July, the company acquired Discovery Air Cargo, a freight forwarder that operates in the New York area. (Click here for previous coverage.)

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