Radiant Logistics, Inc. (NYSE MKT:RLGT) Q3 2018 Earnings Conference Call Transcript
Feb 11, 2019 • 04:30 pm ET
Good day, ladies and gentlemen. This afternoon, Bohn Crain, Radiant Logistics' Founder and CEO; and Radiant's Chief Financial Officer, Todd Macomber, will discuss financial results of the company's Second Fiscal Quarter and Six Months Ended December 31st, 2018. Following their comments, we will open the call to questions. This conference is scheduled for 30 minutes.
This conference call may include forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. The company has based these forward-looking statements on its current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the company that may cause the company's actual results or achievements to be materially different from the results or achievements expressed or implied by such forward-looking statements.
While it is impossible to identify all the factors that may cause the company's actual results or achievements to differ materially from those set forth in our forward-looking statements, such factors include those that have in the past, and may, in the future, be identified in the company's SEC filings and other public announcements, which are available on the Radiant's website at www.radiantdelivers.com. In addition, past results are not necessarily an indication of future performance.
Now I'd like to pass the call over to Radiant's Founder and CEO, Bohn Crain. Sir, please go ahead.
Thank you. Good afternoon, everyone, and thank you for joining in on today's call. We are pleased to report new record results across all of our key financial metrics, and the continued broad-based improvement in our financial performance for the second fiscal quarter ended December 31, 2018.
For the quarter, we posted record revenues of $260.9 million, up $54.2 million, or 26.2%; record net revenues of $64 million, up $16.6 million, or 35%; net income allocable to common shareholders of $3.8 million, up $0.5 million; record adjusted net income allocable to common shareholders of $8.2 million, up $4.6 million, or 127.8%; and record adjusted EBITDA of $12.5 million, up $5.4 million, or 76.1% over the comparable prior year period. Our net revenue margins also improved, up 160 basis points to 24.5% from 22.9% for the comparable prior year period. In addition, we also saw improvement in our adjusted EBITDA margins which increased 440 basis points to a record 19.5%, from 15.1% for the comparable prior year period.
Our positive trend of solid organic growth continued both in terms of geography and service offering. In the US, we reported revenues of $231.8 million, up $52.3 million and 29.1% and net revenues of $55.5 million, up $14.7 million, or 36% over the comparable prior year period. Transportation net revenues of $54.4 million were up $14.2 million, or 35.3% from the comparable prior year period. Value added services net revenues of $1.1 million were up $0.5 million, or 83.3%. In Canada, we reported revenues of $29.3 million, up $1.7 million and 6.2% and net revenues of $8.5 million, up $1.9 million, or 28.8% over the