Radiant Logistics Q2 FY revenues up 63.2%

Radiant Logistics has reported revenues of $72.6m for the second quarter ended 31 December 2011, an increase of 63.2% compared to $44.5m for the same quarter last year.

The company reported EBITDA of $1.94m for the second quarter, which is an increase of 40.5% compared to $1.67m for the same period prior year.

Income from operations for the quarter were $1.10m compared to $1.3m for the same quarter ended 31 December 2010.

For the quarter, the company posted net income of $417,000, compared to $716,000 for the same period last year.

Net transportation revenues also increased 42.8% to $20.2m for the quarter as compared to $14.2m for the comparable prior year period.

Radiant Logistics chairman and CEO Bohn Crain said the company continues to make good progress in the integration of DBA and cost reduction initiatives related to that acquisition.

"In addition, we are also making good progress in the integration of our most recent transaction, Laredo, Texas-based Isla International which will serve as Radiant's Mexico Gateway," Crain said.

"As we look at our operating costs as a function of net revenues, we saw reductions in agent commission expense (from 69.5% to 63.0%) partially offset by increases in our personnel costs (from 11.0% to 15.2%).

"This general dynamic is as expected with the composition of our network now including significant company owned operations in Newark, Los Angeles and Laredo."