Radiant Logistics Buys Isla International

Third-party logistics provider Radiant Logistics will acquire Isla International, a company that specializes in shipments between the United States and Mexico, for $15 million.

Under the terms, Radiant will pay $7.7 million in cash at closing, expected by Dec. 31. The buyer also will pay $1.3 million three months after closing and $6 million more in cash and stock, based on Isla’s future performance.

Isla generated about $3 million in earnings before interest, taxes, depreciation, and amortization on $25 million in sales for the 12 months ended June 30, Radiant added, and is expected to contribute the same amounts annually.

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Radiant Logistics Reports Lower 4Q Earnings

Radiant Logistics, a third-party provider of airfreight and other services, said its fiscal fourth-quarter net income was $581,697, or 2 cents a share, down from $844,278, or 3 cents a share, a year earlier.

Radiant said in a statement the results for the period ended June 30 included $139,000 in one-time costs, as well as $583,000 in expenses related to an acquisition.

The company, whose brands include Distribution By Air, Airgroup, Adcom Worldwide and Radiant, said revenue increased by nearly 75% to $70.9 million in its fourth quarter, and net revenue, or sales minus the cost of transportation, increased more than 60% to $21.2 million.

For the full year, net income was $2.86 million or 9 cents a share on $203.8 million of revenue. The company expects earnings to improve to $3.8 million in 2012.

Radiant also announced the opening of a new office in Nogales, Ariz.

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