CONTINUES ITS COVID RELIEF EFFORTS
ANNOUNCES NEW EMPLOYEE INDUCEMENT AWARDS IN CONNECTION WITH
RECENT NAVEGATE ACQUISITION
RENTON,
Wash., April 6, 2022 /PRNewswire/ -- Radiant
Logistics, Inc. (NYSE American: RLGT), a third-party logistics and
multimodal transportation services company, today reported that,
based upon estimates of its preliminary unaudited results of
operations, it expects to report another quarter of record
financial results for third fiscal quarter ended March 31, 2022.
"Although our SEC-compliant financial statements have not yet
been completed, based on our preliminary unaudited financial
statements, we are likely on pace to deliver yet another sequential
quarter of record results," said Bohn
Crain, Founder and CEO of Radiant Logistics. "Our business
remains quite strong across our various service offerings with a
particularly strong showing in our project charter business and the
first full quarterly contribution from our December 2021 acquisition of Navegate, Inc.,
whose financial contribution is trending ahead of its historic
results of operations. The Navegate acquisition has strengthened
Radiant's international services offering, particularly in the
areas of customs brokerage, ocean forwarding and drayage services
and brings with it a proprietary technology platform to facilitate
global trade management. Joe
Pelletier, Chad Bickett and
the entire Navegate team are doing a fantastic job of servicing our
customers in what remains a difficult market environment."
Mr. Crain continued, "We are particularly proud that during the
quarter ended March 31, the Radiant
team had the opportunity to continue to assist in COVID relief
efforts, providing mission critical support to move COVID test kits
on behalf of the United States Department of Health and Human
Services. The mission, including coordination of cargo at origin,
uplift and delivery involved the chartering of 24 aircraft flying
85.4 million COVID test kits into the interior of the US for final
mile delivery and ultimate distribution. The program details
included over 474,000 cartons of test kits on these 24 flights,
followed by the safe and speedy transfer of the kits to over two
hundred thirty 53-foot trailers for delivery to strategic centers
in the U.S., with the ultimate destination to be into the hands of
the American people."
Further regarding its recent acquisition of Navegate, Mr. Crain
announced that inducement equity awards were provided to
Joseph Pelletier and Chad Bickett, who were each offered a financial
incentive as part of their continued employment with Navegate, in
the form of the right to purchase 20,000 shares of Radiant's common
stock at a price of $6.088 per share,
subject to NYSE approval. The inducement awards were granted
in accordance with NYSE American Company Guide Section 711(a).
Earnings Call and Webcast Access
Information
Radiant Logistics, Inc. will host a conference call to discuss
its financial results for the quarter ended March 31, 2022 in mid-May and will provide those
details closer to the date of that event.
About Radiant Logistics (NYSE
American: 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 set forth in United
States securities laws and regulations – that is, statements
related to future, not past, events. In this context,
forward-looking statements often address our expected future
business, financial performance and financial condition, and often
contain words such as "anticipate," "believe," "estimates,"
"expect," "future," "intend," "may," "plan," "see," "seek,"
"strategy," or "will" or the negative thereof or any variation
thereon or similar terminology or expressions. These
forward-looking statements are not guarantees and are subject to
known and unknown risks, uncertainties and assumptions about us
that may cause our actual results, levels of activity, performance
or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by such forward-looking statements. We have developed our
forward-looking statements based on management's beliefs and
assumptions, which in turn rely upon information available to them
at the time such statements were made. Such forward-looking
statements reflect our current perspectives on our business, future
performance, existing trends and information as of the date of this
announcement. These include, but are not limited to, our beliefs
about future revenue and expense levels, growth rates, prospects
related to our strategic initiatives and business strategies, along
with express or implied assumptions about, among other things: our
continued relationships with our strategic operating partners; the
performance of our historic business, as well as the businesses we
have recently acquired, at levels consistent with recent trends and
reflective of the synergies we believe will be available to us as a
result of such acquisitions; our ability to successfully integrate
our recently acquired businesses; our ability to locate suitable
acquisition opportunities and secure the financing necessary to
complete such acquisitions; transportation costs remaining in-line
with recent levels and expected trends; our ability to mitigate, to
the best extent possible, our dependence on current management and
certain of our larger strategic operating partners; our compliance
with financial and other covenants under our indebtedness; the
absence of any adverse laws or governmental regulations affecting
the transportation industry in general, and our operations in
particular; the impact of COVID-19 on our operations and financial
results; and such other factors that may be identified from time to
time in our Securities and Exchange Commission ("SEC") filings and
other public announcements, including those set forth under the
caption "Risk Factors" in our Form 10-K for the year ended
June 30, 2021 and Form 10-Q for the
quarter ended December 31, 2021. In
addition, the global economic climate and additional or unforeseen
effects from the COVID-19 pandemic amplify many of these risks.
With respect to the forward-looking statements regarding our
third-quarter results of operations, we have developed such
forward-looking statements based on management's assessment of
preliminary financial data and internal management prepared
unaudited financial statements that have not yet been reviewed by
our independent registered public accountants. Accordingly, such
statements are inherently uncertain and subject to change as we
complete our financial results for the quarter. As we finalize our
third-quarter financial statements, we and our independent
registered public accountants may identify items that could cause
final reported results to be materially different from the
preliminary financial estimates presented herein. With respect to
other froward-looking statements included within this announcement,
All subsequent written and oral forward-looking statements
attributable to us, or persons acting on our behalf, are expressly
qualified in their entirety by the foregoing. Readers are cautioned
not to place undue reliance on our forward-looking statements, as
they speak only as of the date made. We disclaim any obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise.
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SOURCE Radiant Logistics, Inc.