Radiant Logistics Inc (NYSE:RLGT) shot up Friday in pre-market trade after the transportation and logistics services company posted fiscal fourth-quarter earnings that handily beat Wall Street estimates.
The Bellevue, Washington-based company reported earnings Thursday of US$0.11 per share on revenue of US$233.8mln. It topped consensus earnings estimates US$0.07 per share on revenue of US$224.3mln. Revenue grew 15.8% on a year-over-year basis.
Shares in Radiant Logistics shot up 13.4% to US$5.25.
"As we head into the new year, we remain committed to our long-standing strategy to deliver profitable growth through a combination of organic and acquisition growth initiatives,” Radiant Logistics founder CEO Bohn Crain said in a statement.
“We have low leverage on our balance sheet, strong free cash flow, and continue our disciplined search for acquisition candidates that bring critical mass to our current platform with respect to geography, purchasing power, and complementary service offerings. We believe we remain well positioned to continue to benefit from a favorable market environment given the healthy economy and look forward to continuing to build on the success of this most recent quarter."
Radiant offers its logistics and transportation services to customers in the United States and Canada through a network of company-owned and strategic partners under the Radiant, Wheels, Airgroup, Adcom, DBA, and Service By Air brands.
Contact Uttara Choudhury at [email protected]