Roadrunner Transportation Systems, Inc. (NYSE: RRTS), a leading asset-light transportation and logistics service provider, today reported financial results for the three and nine months ended September 30, 2012.
Roadrunner's summary financial results for the three and nine months ended September 30 are highlighted below. Third quarter diluted income per share available to common stockholders increased 34.8% over the prior year to $0.31. Excluding acquisition transaction expenses of $0.5 million related to the third quarter acquisitions of R&M Transportation (R&M), Sortino Transportation (Sortino) and Expedited Freight Systems, Inc. (EFS), diluted income per share would have been $0.32.
|Three Months Ended||Nine Months Ended|
|(In thousands, except per share data)||September 30,||September 30,|
|Net revenues (total revenues less purchased transportation costs)||$||83,123||$||60,672||$||229,337||$||153,336|
|Depreciation and amortization||2,424||1,499||6,509||3,381|
|Other operating expenses||62,214||45,761||170,922||116,157|
|Acquisition transaction expenses||480||618||688||938|
|Net income available to common stockholders||9,872||7,175||28,003||19,006|
|Weighted average diluted shares outstanding||32,260||31,758||32,220||31,576|
|Diluted income per share available to common stockholders||$||0.31||$||0.23||$||0.87||$||0.60|
2012 Third Quarter Results
In discussing the company's third quarter performance, Mark DiBlasi, President and CEO of Roadrunner, said,