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Roadrunner Transportation Systems Reports 2012 Third Quarter Results And Announces Fourth Quarter 2012 Guidance

Stocks in this article: RRTS

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,
2012   2011 2012   2011
Total revenues $ 279,165   $ 226,193   $ 778,284   $ 605,622
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
Operating income $ 18,005   $ 12,794   $ 51,218   $ 32,860
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,

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