$RLGT
RADIANT LOGISTICS, INC

2013 Form 10-K Financial Statement

#000119312513383579 Filed on September 30, 2013

View on sec.gov

Income Statement

Concept 2013 2012 Q2 2012
Revenue $310.8M $81.80M $297.0M
YoY Change 4.66% 15.37% 45.73%
Cost Of Revenue $222.4M $58.90M $212.3M
YoY Change 4.76% 18.27% 50.25%
Gross Profit $88.43M $22.90M $84.71M
YoY Change 4.4% 8.02% 35.53%
Gross Profit Margin 28.45% 28.0% 28.52%
Selling, General & Admin $8.441M $20.80M $11.35M
YoY Change -25.62% 10.05% -79.52%
% of Gross Profit 9.54% 90.83% 13.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $629.2K $1.130M $506.7K
YoY Change 24.17% 175.61% -61.61%
% of Gross Profit 0.71% 4.93% 0.6%
Operating Expenses $81.01M $21.00M $80.23M
YoY Change 0.98% 9.38% 41.25%
Operating Profit $7.422M $1.900M $4.481M
YoY Change 65.65% -5.0% -21.39%
Interest Expense $2.016M -$500.0K $1.269M
YoY Change 58.81% 400.0% -734.72%
% of Operating Profit 27.16% -26.32% 28.33%
Other Income/Expense, Net -$1.285M $100.0K -$926.5K
YoY Change 38.74% 0.0% -563.26%
Pretax Income $6.137M $1.600M $3.554M
YoY Change 72.67% 23.08% -28.92%
Income Tax $2.371M $600.0K $1.475M
% Of Pretax Income 38.64% 37.5% 41.5%
Net Earnings $3.657M $900.0K $1.901M
YoY Change 92.36% 50.0% -34.43%
Net Earnings / Revenue 1.18% 1.1% 0.64%
Basic Earnings Per Share $0.11 $0.06
Diluted Earnings Per Share $0.10 $23.38K $0.05
COMMON SHARES
Basic Shares Outstanding 33.12M 32.26M shares
Diluted Shares Outstanding 34.91M 35.11M shares

Balance Sheet

Concept 2013 2012 Q2 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.000M $100.0K $100.0K
YoY Change 900.0% -75.0% -75.0%
Cash & Equivalents $1.000M $66.89K $100.0K
Short-Term Investments
Other Short-Term Assets $3.400M $3.300M $3.300M
YoY Change 3.03% 13.79% 13.79%
Inventory
Prepaid Expenses
Receivables $52.10M $51.94M $51.90M
Other Receivables $400.0K $300.0K $300.0K
Total Short-Term Assets $56.90M $55.48M $55.50M
YoY Change 2.52% 23.01% 23.06%
LONG-TERM ASSETS
Property, Plant & Equipment $1.300M $1.735M $1.700M
YoY Change -23.53% 23.94% 21.43%
Goodwill $14.95M
YoY Change 124.83%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $300.0K $500.0K $500.0K
YoY Change -40.0% 25.0% 25.0%
Total Long-Term Assets $26.90M $27.29M $29.00M
YoY Change -7.24% 137.32% 152.17%
TOTAL ASSETS
Total Short-Term Assets $56.90M $55.48M $55.50M
Total Long-Term Assets $26.90M $27.29M $29.00M
Total Assets $83.80M $84.50M $84.50M
YoY Change -0.83% 49.3% 49.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.80M $39.70M $39.70M
YoY Change -9.82% 42.29% 42.29%
Accrued Expenses $2.200M $2.000M $2.000M
YoY Change 10.0% 0.0% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $800.0K $800.0K
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $45.80M $49.87M $49.90M
YoY Change -8.22% 33.35% 33.42%
LONG-TERM LIABILITIES
Long-Term Debt $17.20M $16.26M $16.30M
YoY Change 5.52% 36.62% 36.97%
Other Long-Term Liabilities $4.800M $89.89K $7.000M
YoY Change -31.43% -88.76% 775.0%
Total Long-Term Liabilities $22.00M $23.23M $23.30M
YoY Change -5.58% 82.9% 83.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.80M $49.87M $49.90M
Total Long-Term Liabilities $22.00M $23.23M $23.30M
Total Liabilities $67.90M $73.10M $73.20M
YoY Change -7.24% 44.47% 44.66%
SHAREHOLDERS EQUITY
Retained Earnings -$1.714M
YoY Change
Common Stock $13.02M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.80M $11.30M $11.30M
YoY Change
Total Liabilities & Shareholders Equity $83.80M $84.50M $84.50M
YoY Change -0.83% 49.3% 49.29%

Cashflow Statement

Concept 2013 2012 Q2 2012
OPERATING ACTIVITIES
Net Income $3.657M $900.0K $1.901M
YoY Change 92.36% 50.0% -34.43%
Depreciation, Depletion And Amortization $629.2K $1.130M $506.7K
YoY Change 24.17% 175.61% -61.61%
Cash From Operating Activities $2.899M $890.0K $3.563M
YoY Change -18.64% -239.06% 21.59%
INVESTING ACTIVITIES
Capital Expenditures $323.4K -$180.0K $701.1K
YoY Change -53.87% 28.57% -284.49%
Acquisitions
YoY Change
Other Investing Activities -$2.210M $0.00 -$10.83M
YoY Change -79.59% -100.0% 116.17%
Cash From Investing Activities -$2.532M -$190.0K -$11.53M
YoY Change -78.04% -96.05% 113.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 590.7K -1.290M 7.598M
YoY Change -92.23% -122.16% 243.82%
NET CHANGE
Cash From Operating Activities 2.899M 890.0K 3.563M
Cash From Investing Activities -2.532M -190.0K -11.53M
Cash From Financing Activities 590.7K -1.290M 7.598M
Net Change In Cash 957.3K -590.0K -367.3K
YoY Change -360.63% -259.46% 46.92%
FREE CASH FLOW
Cash From Operating Activities $2.899M $890.0K $3.563M
Capital Expenditures $323.4K -$180.0K $701.1K
Free Cash Flow $2.575M $1.070M $2.861M
YoY Change -10.0% -314.0% -13.55%

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CY2013Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2013 dei Trading Symbol
TradingSymbol
RLGT
CY2013 dei Entity Registrant Name
EntityRegistrantName
RADIANT LOGISTICS, INC
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Entity Filer Category
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Smaller Reporting Company
CY2013 dei Document Fiscal Year Focus
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2013
CY2013 dei Document Type
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10-K
CY2013 dei Document Period End Date
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2013-06-30
CY2013 dei Entity Central Index Key
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0001171155
CY2013 dei Entity Well Known Seasoned Issuer
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No
CY2013 dei Current Fiscal Year End Date
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--06-30
CY2013 dei Document Fiscal Period Focus
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FY
CY2013 dei Entity Voluntary Filers
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2013 us-gaap Loss Contingency Disclosures
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<div> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 5%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b>NOTE 12 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0; CONTINGENCIES</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Legal Proceedings</b></font></p> <p style="MARGIN-TOP: 6pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">In December 2012, an arbitrator awarded the Company net damages of $698,623 from the former shareholders of DBA, finding that the former shareholders breached certain representations and warranties contained in the DBA Agreement. In addition, the arbitrator found that Paul Pollara breached his noncompetition obligation to the Company and enjoined Mr.&#xA0;Pollara from engaging in any activity in contravention of his obligations of noncompetition and non-solicitation, including activities that relate to Santini Productions and his spouse, Bretta Santini Pollara until March 2016. The award also provided that the former DBA Shareholders and Mr.&#xA0;Pollara must pay to the Company the administrative fees, compensation and expenses of the arbitrator associated with the arbitration. The award has been off-set against amounts due to former shareholders of acquired operations. The gain on litigation settlement was recorded net of judgment interest and associated legal costs.</font></p> <p style="MARGIN-TOP: 12pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">In a related matter, in December 2011, Ms.&#xA0;Pollara filed a claim for declaratory relief against the Company seeking an order stipulating that she is not bound by the non-compete covenant contained within the DBA Agreement signed by her husband, Mr.&#xA0;Pollara. On January&#xA0;23, 2012, the Company filed a counterclaim against Ms.&#xA0;Pollara, her company Santini Productions, Daniel Reffner (a former employee of the Company now working for Ms.&#xA0;Pollara), and Oceanair, Inc. (&#x201C;Oceanair&#x201D;, a company doing business with Santini Productions). The Company&#x2019;s counterclaim alleges claims for statutory and common law misappropriation of trade secrets, breach of duty of loyalty, and unfair competition, and seeks damages in excess of $500,000. Following certain procedural motions, two of our wholly-owned subsidiaries, DBA and RGL, intervened and filed a Second Amendment Counterclaim in the lawsuit. After further procedural matters were addressed, the claims that remain at issue are: (1) DBA&#x2019;s statutory trade secret misappropriation claim against Ms. Pollara, Santini Productions, and Oceanair; (2) RGL&#x2019;s and DBA&#x2019;s claims for interference with contractual relations against Oceanair; and (3) RGL&#x2019;s and DBA&#x2019;s claim for inducement to breach contract against Oceanair. The parties are awaiting a trial date.</font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">In addition to the foregoing, the Company is involved in various other claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company&#x2019;s consolidated financial position, results of operations or liquidity.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Contingent Consideration and Earn-out Payments</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Company&#x2019;s agreements with respect to the acquisitions of ISLA, ALBS, Marvir and IFS (see Note 3) contain future consideration provisions which provide for the selling shareholder(s) to receive additional consideration if specified operating objectives and financial results are achieved in future periods, as defined in their respective agreements. Any changes to the fair value of the contingent consideration are recorded in the consolidated statements of income. Earn-out payments are generally due annually on November&#xA0;1, and 90 days following the quarter of the final earn-out period for each respective acquisition.</font></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">The following table represents the estimated undiscounted earn-out payments to be paid in each of the following fiscal years:</font></font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> <font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="92%" align="center"> <!-- Begin Table Head --> <tr> <td width="74%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1">2014</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1">2015</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1">2016</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1">Total</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Earn-out payments:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Cash</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">253</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">673</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,582</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,508</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Equity</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">55</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">58</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">540</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">653</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: Times New Roman" size="2">Total estimated earn-out payments</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">308</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">731</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,122</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">4,161</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <!-- End Table Body --></table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> <font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(1)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">The Company generally has the right but not the obligation to satisfy a portion of the earn-out payments in stock.</font></td> </tr> </table> </div>
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EarningsPerShareDiluted
0.10
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35690119 shares
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5255781 shares
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0.11
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P5Y29D
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P6Y6M
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1.65
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1.80
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2569352 shares
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P2Y7M2D
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0.0000 pure
CY2013 us-gaap Number Of Businesses Acquired
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7 Acquisition
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2898636
CY2013 us-gaap Business Combination Contingent Consideration Arrangements Description
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Earn-out payments are generally due annually on November 1, and 90 days following the quarter of the final earn-out period for each respective acquisition.
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33120767 shares
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0.18
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746688 shares
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294081 shares
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y5M12D
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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1.65
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70000 shares
CY2013 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>e)</b></font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Concentrations</b></font></td> </tr> </table> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Company maintains its cash in bank deposit accounts that, at times, may exceed federally-insured limits. The Company has not experienced any losses in such accounts.</font></p> </div>
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
4761 shares
CY2013 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>s)</b></font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Reclassifications</b></font></td> </tr> </table> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Certain amounts for prior periods have been reclassified in the consolidated financial statements to conform to the classification used in fiscal year 2013.</font></p> </div>
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1.68
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133976
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CY2013 us-gaap Use Of Estimates
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<div> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>a)</b></font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></td> </tr> </table> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements and related disclosures in accordance with accounting principles generally accepted in the United States (&#x201C;GAAP&#x201D;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include revenue recognition, accruals for the cost of purchased transportation, the fair value of acquired assets and liabilities, changes in contingent consideration, accounting for the issuance of shares and share-based compensation, the assessment of the recoverability of long-lived assets and goodwill, and the establishment of an allowance for doubtful accounts. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary. Actual results could differ from those estimates.</font></p> </div>
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CY2013 us-gaap Loss Contingency Damages Sought Value
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1500000
CY2013 rlgt Agent Office Bad Debt Reserve Description
AgentOfficeBadDebtReserveDescription
The bad debt reserve account is continually replenished with a portion (typically 5% – 10%) of the office’s weekly commission check being directed to fund this account.
CY2013 rlgt Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
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CY2012 us-gaap Treasury Stock Shares Retired
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2.25
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0.0000 pure
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3562541
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0.28
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1094278 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
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66216 shares
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
20130 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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0.58
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-280565
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1190803 shares
CY2012 us-gaap Shipping And Handling Revenue
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297003096
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
772082
CY2012 us-gaap Gross Profit
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84708732
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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3554008
CY2012 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
323620
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5678
CY2012 us-gaap Income Taxes Paid
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1910955
CY2012 us-gaap Investment Income Interest
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19298
CY2012 us-gaap Profit Loss
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2079188
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4480529
CY2012 us-gaap Increase Decrease In Accounts And Other Receivables
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-48801
CY2012 us-gaap Payments For Previous Acquisition
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515525
CY2012 us-gaap Interest Paid
InterestPaid
879796
CY2012 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
124219
CY2012 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
174000
CY2012 us-gaap Increase Decrease In Accounts Receivable
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10081398
CY2012 us-gaap Nonoperating Income Expense
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CY2012 us-gaap Net Income Loss
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1901394
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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225991
CY2012 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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11954
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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-345247
CY2012 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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1147912
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2012 us-gaap Increase Decrease In Other Operating Liabilities
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CY2012 us-gaap Proceeds From Stock Options Exercised
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CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2012 us-gaap Depreciation Depletion And Amortization
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CY2012 us-gaap Proceeds From Repayments Of Lines Of Credit
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CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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11954
CY2012 us-gaap Amortization Of Intangible Assets
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2636145
CY2012 us-gaap Lease And Rental Expense
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2025548
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CY2012 us-gaap Proceeds From Issuance Of Subordinated Long Term Debt
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CY2012 us-gaap Current Federal Tax Expense Benefit
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CY2012 us-gaap Selling General And Administrative Expense
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CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1474820
CY2012 rlgt Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.0000 pure

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