The stock price of Radiant Logistics Inc (RLGT) closed the recent trading session at $6.52. The stock gained 7.82% to $7.03, during the after-hours. The company announced its financial results for the second quarter of the fiscal year 2022. Radiant Logistics Inc also filed forms 8-K and 10-Q with the SEC to report the quarterly earnings.
RLGT News
RLGT announced the acquisition of Navegate Inc on December 6, 2021. The value of this deal was $35 million. The company also bought back around 0.87 million of its shares at a price of $7.18 per share and a total cost of $6.3 million. Since February 1, 2022, RGLT have 49.4 million outstanding shares.
RLGT Financials:
On February 14, 2022, Radiant Logistics Inc (RLGT) announced the financial results for the second quarter of the fiscal year 2022, which ended on December 31, 2021. Some of the key highlights from the financial results are
- Total revenue in Q2 of the fiscal year 2022 was $332.7 million against $218.8 million in the same quarter of FY21.
- Net income attributable to RLGT in the Q2 of FY22 was $6.9 million as compared to $3.8 million in Q2 of FY21.
- Diluted earnings per share (EPS) was $0.14 in Q2 of the fiscal year 2022 against $0.07 in Q2 of FY21.
- Income from operations in Q2 of FY22 was $10.5 million in comparison to $6.02 million in Q2 of FY21.
CEO Remarks
The Chief Executive Officer (CEO) of RLGT, Bohn Crain, said that he is pleased to report the results of another record quarter. He added that on the acquisition front, they kept on giving capital in their stock buybacks and have now bought $6.3 million in shares.
Mr. Crain concluded that the record results of the fiscal quarter were due to organic growth. With the strategic combination of acquisitions and buybacks, they are creating a meaningful intrinsic value for the investors.
About RLGT
Radiant Logistics, Inc. is a logistics and multimodal transportation administrations organization conveying advanced supply chain network solutions through a variety of organizations. The company was founded in 2001 and is headquartered in Bellevue, Washington, United States Of America (USA).