Radiant Logistics Announces Results For The Third Fiscal Quarter Ended March 31, 2017

Crain Continued: "For the nine months ended March 31, 2017 we also generated $15.5 million in cash from operations, have very low leverage on our balance sheet and had approximately $46.6 million in availability under our existing credit facility at the end of the quarter. We continue our disciplined approach of putting this low-cost capital to work and continue to look for acquisition candidates that bring critical mass from a geographic standpoint, purchasing power and/or complementary service offerings to the current platform. In this regard, we recently completed our acquisition of Canada-based Lomas Logistics. In addition, we have a number of additional acquisition candidates under consideration and we look forward to providing further updates as these opportunities progress."

Third Fiscal Quarter Ended March 31, 2017 – Financial Results

For the three months ended March 31, 2017, Radiant reported net income attributable to common stockholders of $0.4 million on $181.8 million of revenues, or $0.01 per basic and fully diluted share. For the three months ended March 31, 2016, Radiant reported a net loss attributable to common stockholders of $2.2 million on $178.3 million of revenues, or $0.05 per basic and fully diluted share.

For the three months ended March 31, 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 March 31, 2016, Radiant reported adjusted net income attributable to common stockholders of $1.8 million, or $0.04 per basic and fully diluted share. Periods are calculated by applying a normalized tax rate of 36% and excluding other items not considered part of regular operating activities.

For the three months ended March 31, 2017, Radiant reported Adjusted EBITDA of $6.5 million, compared to $4.7 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 $6.9 million and $5.2 million for the three months ended March 31, 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 nine months ending March 31, 2017 and 2016 appears at the end of this release.

Nine Months Ended March 31, 2017 – Financial Results

For the nine months ended March 31, 2017, Radiant reported net income attributable to common stockholders of $3.8 million on $575.8 million of revenues, or $0.08 per basic and fully diluted share. For the nine months ended March 31, 2016, Radiant reported net loss attributable to common stockholders of $4.9 million on $600.1 million of revenues, or $0.10 per basic and fully diluted share.

For the nine months ended March 31, 2017, Radiant reported adjusted net income attributable to common stockholders of $12.4 million or $0.25 per basic and fully diluted share. For the nine months ended March 31, 2016, Radiant reported adjusted net income attributable to common stockholders of $9.0 million or $0.19 per basic and fully diluted share. Periods are calculated by applying a normalized tax rate of 36% and excluding other items not considered part of regular operating activities.

For the nine months ended March 31, 2017, Radiant reported Adjusted EBITDA of $22.7 million, compared to $19.0 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 $23.9 million and $20.9 million for the nine months ended March 31, 2017 and 2016, respectively.

Earnings Call and Webcast Access Information

Radiant Logistics, Inc. will host a conference call on Wednesday, May 10, 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.

Conference Call Details

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 multimodal 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)		March 31,				June 30,
		2017				2016
ASSETS
Current assets:
Cash and cash equivalents		$	12,933			$	4,768
Accounts receivable, net of allowance of $1,954 and $1,806, respectively			97,479				101,035
Employee and other receivables			369				635
Income tax deposit			1,585				1,525
Prepaid expenses and other current assets			6,048				5,410
Total current assets			118,414				113,373
Technology and equipment, net			13,133				12,453
Acquired intangibles, net			65,758				71,941
Goodwill			62,888				62,888
Deposits and other assets			2,891				2,814
Total long-term assets			131,537				137,643
Total assets		$	263,084			$	263,469
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued transportation costs		$	71,911			$	75,071
Commissions payable			9,065				8,280
Other accrued costs			4,628				5,331
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