Radiant reports third quarter profit
Radiant Logistics Inc. said it had third quarter net profit of $116,000 compared to $250,000 in the same 2008 period.
The Bellevue, Wash.-based firm had revenue of $34 million in the quarter ending Sept. 30, up from $32.4 million in the year-earlier period.
“Given the economic realities of today’s business environment, we are pleased with the financial results for our quarter,” said Bohn Crain, chairman and chief executive officer. “Our recent acquisition of Adcom has allowed us to post year-over-year growth even in the face of the soft global economy. Our business has by no means been immune to the recent economic contraction, but one of the inherent benefits of our agent-based forwarding network is the underlying scalability of our business model. This is evidenced by the significant cost synergies reflected in our most recent quarter resulting from the elimination of Adcom’s back-office operations which were transitioned from Minneapolis to Bellevue in June of this year”
Radiant reports third quarter profit
