Radiant Logistics Announces Results for the Fourth Fiscal Quarter and Year Ended June 30, 2017

Financing Update

On June 14, 2017, the Company announced that it entered into a USD$75.0 million revolving credit facility (the "Senior Credit Facility") with Bank of America, N.A. and Bank of Montreal, pursuant to a Second Amendment and Restated Loan and Security Agreement. The Senior Credit Facility increases the maximum borrowing and provides us with lower interest costs, less restrictive financial and operational covenants, and includes a $50.0 million accordion feature to support future acquisition opportunities. Borrowings are available to fund future acquisitions, capital expenditures, or for other corporate purposes, including, if warranted at the time, the repurchase of the Company's common stock and/or redemption of the Company's $21.0 million redeemable perpetual preferred stock, which is redeemable at the Company's option, beginning in December 2018.

In connection with the acquisition of Lomas, the Company obtained a CAD$10.0 million senior secured Canadian term loan from Integrated Private Debt Fund V LP. The loan matures in June 2024 and accrues interest at a rate of 6.65% per annum.

CEO Comments

"We are very pleased to report another year of solid financial results for the fiscal year ended June 30, 2017," said Bohn Crain, Founder and CEO. "We set new records across several key financial metrics, including net revenues of $194.6 million, up $7.9 million or 4.2%, adjusted net income of $15.8, up $4.0 million or 33.9%, adjusted net income per share of $0.32 per basic and fully diluted share, up $0.08 or 33.3%, EBITDA of $23.4 million, up $11.9 million or 103.5%, and Adjusted EBITDA of $29.6 million, up $5.2 million, or 21.3%. In addition, we also set a new record in terms of our Adjusted EBITDA margins up 210 basis points to 15.2%, up from 13.1% over the comparable prior year period. As we have previously discussed, our incremental cost of supporting that next dollar of gross margin is very small and we are very excited about our opportunity to drive further expansion of our Adjusted EBITDA margin as we continue to scale the business and we leverage the benefits of our on-going technology investments.

Crain Continued: "We also continue to make progress on the acquisition front, having recently completed three tuck-in transactions with Canada-based Lomas Logistics (April 2017), Dedicated Logistics Technologies (June 2017), and Sandifer-Valley Transportation and Logistics (September 2017). We are very happy to have these three new operations as part of the Radiant organization. One of the principle thematics of our acquisition strategy is supporting our strategic operating partners in their exit strategies by converting them to Company-owned operations as we believe this gives us the best opportunity to drive margin expansion and create durable shareholder value. In addition, our recently expanded $75.0 million ABL credit facility, along with its $50.0 million accordion feature, gives us the financial flexibility to retire our $21.0 million redeemable perpetual preferred stock in December 2018 should we choose to do so, while maintaining capacity to continue to pursue acquisitions that are of interest."

"We head into the new year with a focus on continuous improvement of our existing business and leveraging our on-going investment in technology and remain confident in our long-standing strategy to deliver profitable growth through a combination of organic and acquisition growth initiatives. We have low leverage on our balance sheet, strong free cash flows, and continue our disciplined search for acquisition candidates that bring critical mass to our current platform with respect to geography, purchase power, and complementary service offerings."

Fourth Fiscal Quarter Ended June 30, 2017 – Financial Results

For the three months ended June 30, 2017, Radiant reported a net loss attributable to common stockholders of $1.0 million on $201.8 million of revenues, or $0.02 per basic and fully diluted share. For the three months ended June 30, 2016, Radiant reported a net loss attributable to common stockholders of $0.6 million on $182.5 million of revenues, or $0.01 per basic and fully diluted share.

For the three months ended June 30, 2017, Radiant reported adjusted net income attributable to common stockholders of $3.4 million, or $0.07 per basic and fully diluted share. For the three months ended June 30, 2016, Radiant reported adjusted net income attributable to common stockholders of $2.8 million, or $0.06 per basic and fully diluted share.

For the three months ended June 30, 2017, Radiant reported Adjusted EBITDA of $6.9 million, compared to $5.4 million for the comparable prior year period. Normalizing these results to exclude non-recurring transition costs associated with the interim operation of Service by Air's back-office operations, Adjusted EBITDA would have been $7.2 million and $5.9 million for the three months ended June 30, 2017 and 2016, respectively.

Year Ended June 30, 2017 – Financial Results

For the year ended June 30, 2017, Radiant reported net income attributable to common stockholders of $2.8 million on $777.6 million of revenues, or $0.06 per basic and fully diluted share. For the year ended June 30, 2016, Radiant reported net loss attributable to common stockholders of $5.6 million on $782.6 million of revenues, or $0.11 per basic and fully diluted share.

For the year ended June 30, 2017, Radiant reported adjusted net income attributable to common stockholders of $15.8 million or $0.32 per basic and fully diluted share. For the year ended June 30, 2016, Radiant reported adjusted net income attributable to common stockholders of $11.8 million or $0.24 per basic and fully diluted share.

For the year ended June 30, 2017, Radiant reported Adjusted EBITDA of $29.6 million, compared to $24.4 million for the comparable prior year period. Normalizing these results to exclude non-recurring transition costs associated with the interim operation of Service by Air's back-office operations, Adjusted EBITDA would have been $31.1 million and $26.8 million for the year ended June 30, 2017 and 2016, respectively.

A reconciliation of Radiant's adjusted net income and adjusted EBITDA to the most directly comparable GAAP measure for the three and twelve months ending June 30, 2017 and 2016 appears at the end of this release.

Earnings Call and Webcast Access Information

Radiant Logistics, Inc. will host a conference call on Tuesday, September 12, 2017 at 4:30 PM Eastern to discuss the contents of this release. The conference call is open to all interested parties, including individual investors and press. Bohn Crain, Founder and CEO will host the call.

Webcast Details

This call is also being webcast and may be accessed via Radiant's web site at www.radiantdelivers.com or through www.InvestorCalendar.com.

About Radiant Logistics (NYSE MKT: RLGT)

Radiant Logistics, Inc. (www.radiantdelivers.com) is a third party logistics and multi-modal transportation services company delivering advanced supply chain solutions through a network of company-owned and strategic operating partner locations across North America. Through its comprehensive service offering, Radiant provides domestic and international freight forwarding services, truck and rail brokerage services and other value-added supply chain management services, including customs brokerage, order fulfillment, inventory management and warehousing to a diversified account base including manufacturers, distributors and retailers using a network of independent carriers and international agents positioned strategically around the world.

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to: trends in the domestic and global economy; our ability to attract new and retain existing agency relationships; acquisitions and integration of acquired entities; availability of capital to support our acquisition strategy; our ability to maintain and improve back office infrastructure and transportation and accounting information systems in a manner sufficient to service our revenues and network of operating locations; the ability of the Wheels operation to maintain and grow its revenues and operating margins in a manner consistent with recent operating results and trends; our ability to maintain positive relationships with our third-party transportation providers, suppliers and customers; outcomes of legal proceedings; competition; management of growth; potential fluctuations in operating results; and government regulation. More information about factors that potentially could affect our financial results is included Radiant Logistics, Inc.'s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.

RADIANT LOGISTICS, INC. 
Consolidated Balance Sheets

(In thousands, except share and per share data)		June 30,
		2017				2016
ASSETS
Current assets:
Cash and cash equivalents		$	5,808			$	4,768
Accounts receivable, net of allowance of $1,599 and $1,806, respectively			116,327				101,035
Employee and other receivables			251				635
Income tax deposit			432				1,525
Prepaid expenses and other current assets			6,902				5,410
Total current assets			129,720				113,373
Technology and equipment, net			15,227				12,453
Acquired intangibles, net			74,729				71,941
Goodwill			66,779				62,888
Deposits and other assets			3,085				2,814
Total long-term assets			144,593				137,643
Total assets		$	289,540			$	263,469
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued transportation costs		$	85,490			$	75,071
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