Radiant Logistics, Inc. (NYSE MKT:RLGT) Q4 2020 Earnings Conference Call - Final Transcript

Sep 28, 2020 • 04:30 pm ET

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Radiant Logistics, Inc. (NYSE MKT:RLGT) Q4 2020 Earnings Conference Call - Final Transcript

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Presentation
Executive
Bohn Crain

half of one turn of our trailing twelve-month EBITDA, giving us additional financial flexibility to navigate any further market weakness as well as the ability to pursue new acquisition opportunities into the future.

Although the overall demand for transportation services has been significantly impacted around the world, we are seeing slow and steady improvement across many industry verticals that we serve, and we are optimistic about the economy and its continued recovery. As a result, we have begun to restore salaries of our employees, returned many of our furloughed employees to work and will be forever grateful to our team of employees and operating partners who have worked so resiliently to support our customers through this pandemic. In the months ahead, we will continue to closely monitor how we and the economy are progressing and look forward to re-engaging in acquisition opportunities and/or our stock buyback activities as the opportunities present themselves.

With our diversity of customers and service offerings, the strength of our balance sheet, the scalability of our technology and the commitment of our teammates, we believe we are well positioned to emerge from the pandemic as a stronger, more vibrant [Technical Issues].

With that, I will turn the call over to Todd Macomber, our CFO to walk us through our detailed financial results and then we'll open it up for Q&A.

Executive
Todd Macomber

Thanks, Bohn and good afternoon, everyone. Today we will be discussing our financial results including adjusted net income and adjusted EBITDA for the three and 12 months ended June 30, 2020. For the three months ended June 30, 2020, we reported net income attributable to common stockholders of $4,665,000 on $275.5 million of revenues or $0.09 per basic and fully diluted share, which included a charge of $1.7 million for change in contingent consideration. For the three months ended June 30, 2019, we reported net income attributable to common stockholders of $4,461,000 on $204.6 million of revenues, $0.09 per basic and fully diluted share. This represents an increase of approximately $204,000 over the comparable prior-year period or 4.6%.

For the three months ended June 30, 2020, we reported adjusted net income attributable to common stockholders of $8,883,000. For the three months ended June 30, 2019, we reported adjusted net income attributable to common stockholders of $7,538,000. This represents an increase of approximately $1,345,000 or approximately 17.8%. We reported adjusted EBITDA of $13,148,000 for the three months ended June 30, 2020 compared to adjusted EBITDA of $11,11,000 for the three months ended June 30, 2019. This represents an increase of approximately $2,137,000 or approximately 19.4%.

Moving along to 12-month results. For the 12 months ended June 30, 2020, we reported net income attributable to common stockholders of $10,541,000 on $855.2 million of revenues or $0.21 per basic and fully diluted share. For the 12 months ended June 30, 2019, we reported net income attributable to common stockholders of $13,731,000 on $890.5 million of revenues or $0.28 per basic and $0.27 per fully diluted share. This represents a