TARGET LOGISTICS REPORTS HIGHER REVENUES, BIGGER LOSS

PORT AUTHORITY OF N.Y./N.J. CONTINUES USE OF REAL-TIME SYSTEM    Target Logistics, Inc., the Baltimore-based freight forwarding and logistics provider, posted a bigger third-quarter deficit of about $500,000, despite a 21-percent jump in revenues, to $26.1 million.
   The results for the latest quarter compare with a pro forma net deficit of about $300,000 and pro forma revenues of $21.5 million in the third quarter of 2001.
   The company’s operating loss widened, to about $400,000, from about $300,000 in the third quarter of 2001.
   Target Logistics recently announced the acquisition of certain assets and certain liabilities of Cassady Air Transportation, Inc., a Columbus, Ohio freight forwarder. This was the company’s third acquisition announced in the last 12 months.