2014 Q2 Form 10-Q Financial Statement

#000156459014002153 Filed on May 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $102.3M $86.03M $72.79M
YoY Change 26.77% 18.19% 2.89%
Cost Of Revenue $74.60M $62.00M $51.20M
YoY Change 29.29% 21.09% 1.59%
Gross Profit $27.70M $23.99M $21.61M
YoY Change 19.91% 11.03% 6.35%
Gross Profit Margin 27.08% 27.88% 29.68%
Selling, General & Admin $23.80M $2.816M $1.820M
YoY Change 19.0% 54.71% -39.77%
% of Gross Profit 85.92% 11.74% 8.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.220M $132.4K $147.4K
YoY Change 40.23% -10.15% -5.29%
% of Gross Profit 4.4% 0.55% 0.68%
Operating Expenses $24.30M $21.17M $19.07M
YoY Change 27.89% 11.02% -4.75%
Operating Profit $3.400M $2.822M $2.541M
YoY Change -17.07% 11.1% 749.35%
Interest Expense -$100.0K $88.89K $492.4K
YoY Change -80.0% -81.95% 3.96%
% of Operating Profit -2.94% 3.15% 19.38%
Other Income/Expense, Net $100.0K -$70.44K -$462.6K
YoY Change 0.0% -84.77% 24.52%
Pretax Income $3.300M $2.752M $2.078M
YoY Change -8.33% 32.44% -2970.94%
Income Tax $1.200M $1.087M $1.167M
% Of Pretax Income 36.36% 39.51% 56.16%
Net Earnings $2.100M $1.648M $881.8K
YoY Change -12.5% 86.9% -1281.78%
Net Earnings / Revenue 2.05% 1.92% 1.21%
Basic Earnings Per Share $0.03
Diluted Earnings Per Share $59.49K $45.33K $0.02
COMMON SHARES
Basic Shares Outstanding 34.14M 33.71M 33.09M
Diluted Shares Outstanding 35.34M 35.10M

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.900M $4.000M $1.300M
YoY Change 190.0% 207.69% 116.67%
Cash & Equivalents $2.880M $3.968M $1.310M
Short-Term Investments
Other Short-Term Assets $3.800M $3.000M $3.000M
YoY Change 11.76% 0.0% -9.09%
Inventory
Prepaid Expenses
Receivables $67.86M $53.28M $46.86M
Other Receivables $200.0K $400.0K $300.0K
Total Short-Term Assets $74.82M $60.66M $51.51M
YoY Change 31.56% 17.76% 2.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.265M $1.328M $1.420M
YoY Change 0.0% -6.47% -16.49%
Goodwill $28.25M $28.62M $15.92M
YoY Change 77.07% 79.75%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $600.0K $600.0K $500.0K
YoY Change 100.0% 20.0% 25.0%
Total Long-Term Assets $43.93M $45.41M $26.50M
YoY Change 71.64% 71.32% -8.92%
TOTAL ASSETS
Total Short-Term Assets $74.82M $60.66M $51.51M
Total Long-Term Assets $43.93M $45.41M $26.50M
Total Assets $120.0M $107.4M $79.43M
YoY Change 43.3% 35.2% 0.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.50M $37.80M $33.00M
YoY Change 27.09% 14.55% 7.49%
Accrued Expenses $2.500M $2.500M $2.200M
YoY Change 13.64% 13.64% 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
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $58.68M $48.47M $42.69M
YoY Change 28.22% 13.55% 6.18%
LONG-TERM LIABILITIES
Long-Term Debt $7.243M $5.194M $16.68M
YoY Change -57.92% -68.86% -21.69%
Other Long-Term Liabilities $2.610K $2.610K $36.32K
YoY Change 0.0% -92.81% -99.51%
Total Long-Term Liabilities $20.41M $19.57M $23.27M
YoY Change -7.66% -15.87% -18.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.68M $48.47M $42.69M
Total Long-Term Liabilities $20.41M $19.57M $23.27M
Total Liabilities $76.30M $68.04M $65.95M
YoY Change 12.42% 3.17% -4.69%
SHAREHOLDERS EQUITY
Retained Earnings $6.317M $4.947M -$408.2K
YoY Change 225.05% -1311.94%
Common Stock $34.57M $34.35M $13.83M
YoY Change 148.95% 148.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.88M $39.29M $13.40M
YoY Change
Total Liabilities & Shareholders Equity $120.0M $107.4M $79.43M
YoY Change 43.3% 35.2% 0.29%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $2.100M $1.648M $881.8K
YoY Change -12.5% 86.9% -1281.78%
Depreciation, Depletion And Amortization $1.220M $132.4K $147.4K
YoY Change 40.23% -10.15% -5.29%
Cash From Operating Activities -$1.550M -$450.0K $130.0K
YoY Change 134.85% -446.15% -104.18%
INVESTING ACTIVITIES
Capital Expenditures -$90.00K -$80.00K -$20.00K
YoY Change 200.0% 300.0% -89.47%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.810M -$1.150M
YoY Change -100.0% 57.39% -56.77%
Cash From Investing Activities -$80.00K -$1.900M -$1.170M
YoY Change 33.33% 62.39% -58.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 540.0K -5.520M 630.0K
YoY Change 25.58% -976.19% -85.97%
NET CHANGE
Cash From Operating Activities -1.550M -450.0K 130.0K
Cash From Investing Activities -80.00K -1.900M -1.170M
Cash From Financing Activities 540.0K -5.520M 630.0K
Net Change In Cash -1.090M -7.870M -410.0K
YoY Change 275.86% 1819.51% -71.92%
FREE CASH FLOW
Cash From Operating Activities -$1.550M -$450.0K $130.0K
Capital Expenditures -$90.00K -$80.00K -$20.00K
Free Cash Flow -$1.460M -$370.0K $150.0K
YoY Change 131.75% -346.67% -105.14%

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<div> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:9.17%;text-indent:-9.17%;font-size:10pt;font-family:Times New Roman;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">NOTE 12 &#8211; CONTINGENCIES </font></p><p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="text-decoration:underline;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Legal Proceedings</font><font style="font-style:italic;;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;"> </font></p><p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="font-style:italic;;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">DBA Distribution Services, Inc. </font></p><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.&#160;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.&#160;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="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In a related matter, in December 2011, Ms.&#160;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.&#160;Pollara. On January&#160;23, 2012, the Company filed a counterclaim against Ms.&#160;Pollara, her company Santini Productions, Daniel Reffner (a former employee of the Company now working for Ms.&#160;Pollara), and Oceanair, Inc. (&#8220;Oceanair&#8221;, a company doing business with Santini Productions). The Company&#8217;s counterclaim alleges claims for statutory and common law misappropriation of trade secrets, breach of duty of loyalty, and unfair competition, and sought damages in excess of $1,000,000. </font></p><p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-bottom:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On April 25, 2014, a jury returned a verdict in the Company&#8217;s favor in the amount of $1,500,000, but it remains subject to a motion for judgment notwithstanding the verdict made by the Defendants. Any procedural motions that are decided in a manner inconsistent with the jury verdict will likely be appealed by the Company. The ultimate resolution of this dispute is not expected to occur in the near term given that the non-prevailing party will likely make further appeal.&nbsp;&nbsp;Accordingly, the Company will not record the benefit of any such award into its financial statement until such time as the dispute has been fully adjudicated and collected.</font></p><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;;"><font style="font-style:italic;;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Radiant Global Logistics, Inc. and DBA Distribution Services, Inc. (Ingrid Barahona California Class Action)</font></p><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October 25, 2013, plaintiff Ingrid Barahona filed a purported class action lawsuit against the Company, as well as a series of unrelated third party employee staffing businesses (collectively, the &#8220;Staffing Defendants&#8221;). In the lawsuit, Ms. Barahona seeks penalties under California law, alleging, on an unsubstantiated basis, that she and putative, yet unnamed class members, were the subject of unfair and unlawful business practices, including certain wage and hour violations relating to, among others, failure to provide certain rest and meal periods, as well as failure to pay minimum wages and overtime. The case remains in the early stage subject to certain preliminary procedural motions. The Company intends to vigorously defend against these allegations as, based upon the preliminary evaluation of applicable payroll records and legal standards: (i) the Company believes that the Plaintiff&#8217;s request for class certification is overly broad and cannot meet California&#8217;s class action certification requirements; and (ii) the Company does not believe that the named Plaintiff has raised a cause of action for which relief is available or appropriate. However, since this case remains in the very early stages of litigation, the Company can offer no assurances as to the final disposition of the matter. </font></p><p style="margin-bottom:0pt;margin-top:0pt;margin-bottom:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;;"><font style="font-style:italic;;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Service By Air, Inc. v. Radiant Global Logistics, Inc.</font></p><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 11, 2014 a lawsuit was filed by Service By Air, Inc. ("SBA") against the Company, PCA, and Philippe Gabay ("Gabay"),. The case was filed by SBA principally in response to the Company&#8217;s March 1, 2014: (i) appointment of Gabay as VP of Business Development; and (ii) acquisition of certain PCA assets in connection with the expansion of the Company&#8217;s operations in the Mid-Atlantic Region of the United States. SBA is claiming unspecified damages against all of the defendants alleging, among others, that the actions of the defendants, including the Company, violated an SBA agreement with PCA and Gabay that otherwise expired on February 28, 2014. SBA is also claiming that the Company tortiously interfered with SBA's rights in connection with the expired agreement. Although the Company believes that the case has been asserted by SBA principally in response to, and to disrupt, the Company&#8217;s competitive position in the market, and that the case is otherwise without merit, since the case remains in the early stages of litigation, there can be no assurances as to the ultimate outcome of the matter. The Company and our co-defendants intend to vigorously defend the matter. </font></p><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8217;s consolidated financial position, results of operations or liquidity. </font></p><p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="text-decoration:underline;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contingent Consideration and Earn-out Payments </font></p><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s agreements with respect to the previous acquisitions, including On Time and PCA (See Note 3), contain future consideration provisions that provide for the selling shareholder 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 operations. Earn-out payments are generally due annually on November&#160;1, and 90 days following the quarter of the final earn-out period for each respective acquisition. </font></p><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following table represents the estimated undiscounted earn-out payments to be paid in each of the following fiscal years: </font></p><p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p><div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;"> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:39%; border-bottom:solid 0.75pt transparent;"><p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="width:10%; border-bottom:solid 0.75pt #000000;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2015</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="width:10%; border-bottom:solid 0.75pt #000000;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2016</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="width:10%; border-bottom:solid 0.75pt #000000;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2017</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="width:10%; border-bottom:solid 0.75pt #000000;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2018</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="width:10%; border-bottom:solid 0.75pt #000000;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> </tr> <tr> <td valign="bottom" bgcolor="#CCFFCC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:39%;"><p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Earn-out payments (in thousands):</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> </tr> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:39%;"><p style="margin-bottom:0pt;margin-top:0pt;margin-left:13.7pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,418</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,852</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,609</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,766</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10,645</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> </tr> <tr> <td valign="bottom" bgcolor="#CCFFCC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:39%; border-bottom:solid 0.75pt transparent;"><p style="margin-bottom:0pt;margin-top:0pt;margin-left:13.7pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Equity</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">249</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">963</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">712</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,164</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,088</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> </tr> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:39%;"><p style="margin-bottom:0pt;margin-top:0pt;margin-left:13.7pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:8%; border-top:solid 0.75pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#FFFFFF" style="width:1%;white-space:nowrap;"><p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> </tr> <tr> <td valign="bottom" bgcolor="#CCFFCC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:39%; border-bottom:double 2.5pt transparent;"><p style="margin-bottom:0pt;margin-top:0pt;margin-left:27.35pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total estimated earn-out payments<sup style="font-size:85%; vertical-align:top"> (1)</sup></font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,667</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,815</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,321</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,930</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:8%; border-bottom:double 2.5pt #000000;white-space:nowrap;"><p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">13,733</font></p></td> <td valign="bottom" bgcolor="#CCFFCC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;"><p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;"><font style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</font></p></td> </tr> </table></div><div align="left"><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"><tr><td valign="top" style="width:3.33%;white-space:nowrap"><p style="margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1)</font></p></td><td valign="top" style="width:96.67%;"><p style="margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company generally has the right but not the obligation to satisfy a portion of the earn-out payments in stock. </font></p></td></tr></table></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <div align="left"><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"><tr><td valign="top" style="width:6.67%;white-space:nowrap"><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">a)</font></p></td><td valign="top" style="width:93.33%;"><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </font></p></td></tr></table></div><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements and related disclosures in accordance with accounting principles generally accepted in the United States (&#8220;GAAP&#8221;) 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>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <div align="left"><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"><tr><td valign="top" style="width:6.67%;white-space:nowrap"><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">e)</font></p></td><td valign="top" style="width:93.33%;"><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentrations </font></p></td></tr></table></div><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <div align="left"><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"><tr><td valign="top" style="width:6.67%;white-space:nowrap"><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">s)</font></p></td><td valign="top" style="width:93.33%;"><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications </font></p></td></tr></table></div><p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain amounts for prior periods have been reclassified in the accompanying condensed consolidated financial statements to conform to the classification used in fiscal year 2014. </font></p></div>
CY2013Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2478808
CY2014Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
132396
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
396333
CY2014Q1 us-gaap Bank Overdrafts
BankOverdrafts
4548674
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.
CY2014Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
492920
CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1556389
CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
936968
CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
568323
CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
565239
CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1037017
CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
5156856
CY2014Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
489526
CY2013Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
365738
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1521983
CY2014Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
50127
us-gaap Payments For Restructuring
PaymentsForRestructuring
192246
CY2013Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
469218
us-gaap Payments For Restructuring
PaymentsForRestructuring
469218
CY2014Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
96729
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
250136
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
199741
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
101014
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
124659
CY2013Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1189807
CY2014Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
5965710
CY2013Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
5074547
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
960560
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1245041
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
5495369
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
5074547
CY2014Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1621858
CY2013Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2006838
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1947935
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2072503
CY2014Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4202999
CY2013Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3768626
CY2014Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2875141
CY2013Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
147352
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
479633
CY2014Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
29779640
CY2014Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
13632501
CY2013Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
19955640
CY2013Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10724477
CY2014Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100207
CY2013Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
784622
CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1105151
CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3887111
CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4492003
CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3131974
CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2544900
CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
986000
CY2014Q1 us-gaap Long Term Debt
LongTermDebt
5960671
CY2013Q2 us-gaap Long Term Debt
LongTermDebt
17980515
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.33
CY2014Q1 us-gaap Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
4815000
us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Borrowings accrue interest, at the Company’s option, at the Lender’s prime rate minus 0.50% or LIBOR plus 2.25%. The rates can be subsequently adjusted based on the Company’s fixed charge coverage ratio at the Lender’s base rate plus 0.0% to 0.50% or LIBOR plus 1.50% to 2.25%.
us-gaap Preferred Stock Redemption Terms
PreferredStockRedemptionTerms
Commencing on December 20, 2018, the Company may redeem, at its option, the Series A Preferred Shares, in whole or in part, at a cash redemption price of $25.00 per share plus accrued and unpaid dividends (whether or not declared). Among other things, the Series A Preferred Shares have no stated maturity, are not subject to any sinking fund or other mandatory redemption, and are not convertible into or exchangeable for any of the Company’s other securities.
CY2013Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
3000000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2014Q1 us-gaap Liabilities Fair Value Disclosure Recurring
LiabilitiesFairValueDisclosureRecurring
12250000
CY2013Q2 us-gaap Liabilities Fair Value Disclosure Recurring
LiabilitiesFairValueDisclosureRecurring
4025000
CY2014Q1 us-gaap Business Combination Contingent Consideration Arrangements Range Of Outcomes Value High
BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh
21483000
CY2014Q1 rlgt Business Combination Contingent Consideration Threshold Net Advances On Earn Out Payments
BusinessCombinationContingentConsiderationThresholdNetAdvancesOnEarnOutPayments
550000
CY2014Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1154586
CY2013Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
583051
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2160736
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1759687
CY2014Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-67243
CY2013Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
583876
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
10804
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
3113
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
7691
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.65
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
1.65
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.65
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y6M
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
rlgt Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.0000
CY2013 rlgt Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.0000
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5255781
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1081588
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
840000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2000
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5495369
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3021954
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.05
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.56
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.40
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.37
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.76
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y29D
rlgt Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term2
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm2
P10Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M28D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y1M21D
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5110000
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
9436256
CY2014Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
7056194
CY2012Q4 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
698623
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
1000000
us-gaap Business Combination Contingent Consideration Arrangements Description
BusinessCombinationContingentConsiderationArrangementsDescription
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.
CY2014Q1 us-gaap Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
1667000
CY2014Q1 us-gaap Other Commitment Due In Third Year
OtherCommitmentDueInThirdYear
3321000
CY2014Q1 us-gaap Other Commitment Due In Fourth Year
OtherCommitmentDueInFourthYear
3930000
CY2014Q1 us-gaap Other Commitment
OtherCommitment
13733000

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