Stock News Buzz: Radiant Logistics (NYSE:RLGT)

Radiant Logistics (NYSE:RLGT) The stock transacted 98439 shares during most recent day however it has an average volume of 190.85K shares. It spotted trading -12.46% off 52-week high price. On the other end, the stock has been noted 68.83% away from the low price over the last 52-weeks.

On Sept. 14, 2020, Radiant Logistics (NYSE American:RLGT) a third-party logistics and multimodal transportation services company, declared select preliminary unaudited financial results for the fourth quarter ended June 30, 2020, and that it has filed a Form 12b-25 with the U.S. Securities and Exchange Commission, providing the Company with a permissible 15-day extension for filing its Annual Report on Form 10-K for the year ended June 30, 2020 (the Form 10-K). The Company currently expects that it will timely file its Form 10-K on or before the expiration of the extension period and will hold its quarterly earnings call concurrent with that filing.

In its Form 12b-25 filing, the Company stated that the Form 10-K could not be filed within the prescribed due date as the Company was unable to timely finalize its financial results without unreasonable expense or effort.  In the filing, the Company attributed the delays to, among others, circumstances related to the COVID-19 pandemic and the associated work-from-home strategies being deployed by the Company, as well as the Company’s inability to timely interface with its auditors and third-party tax and valuation advisors critical to the audit process, principally caused by difficulties inherent in the remote workforce protocols adopted by the Company in response to the COVID-19 pandemic.

The financial results presented below for the quarterly period ended June 30, 2020, reflect preliminary estimates of the Company’s results of operations as of the date of this press release.  The Company’s independent registered public accounting firm has not audited or reviewed, and does not express an opinion with respect to, this preliminary data.  These estimates may be subject to change upon the completion of the reporting process and audit of the Company’s financial statements, and actual results may vary from these estimates.  The preliminary unaudited results for the Company’s fiscal fourth quarter ended June 30, 2020 are as follows:

RLGT has a gross margin of 27.80% and an operating margin of 2.00% while its profit margin remained 1.30% for the last 12 months. Its earnings per share (EPS) expected to touch remained 137.20% for this year while earning per share for the next 5-years is expected to reach at 24.60%.

The company has 49.58M of outstanding shares and 35.48M shares were floated in the market. According to the most recent quarter its current ratio was 1.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -2.94% from the mean of 20 days, 10.01% from mean of 50 days SMA and performed 15.40% from mean of 200 days price. Company’s performance for the week was -0.38%, 1.96% for month and YTD performance remained -6.64%.

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