Radiant Logistics, Inc. (NYSEAM:RLGT) is looking for acquisitions. Bohn Crain, Founder and Chief Executive Officer said during the first fiscal quarter ended September 30, 2023 Conference Call, "And as we detailed in our press release, we continue to allocate capital in support of our stock buyback program as well as converting our agent stations to company-owned stores as we did with our Daleray transaction in Florida. As previously discussed, we believe we are well positioned to navigate through these slower freight markets as we find our way back to more normalized market conditions.
At the same time, we believe our patience and discipline will be rewarded as market conditions become more conducive to our acquisition strategy, and we have ample dry powder to become more active on the acquisition front should the opportunity present itself. Looking ahead, we will remain focused on delivering profitable growth through a combination of organic and acquisition initiatives and thoughtfully relevering our balance sheet through a combination of agent-station conversions, synergistic tuck-in acquisitions and stock buybacks. Through this approach, we will continue to scale our business, leveraging our best-in-class technology, our extensive global network, which we believe, over time, will continue to deliver meaningful value for our shareholders, operating partners and the end customers that we serve".
Radiant Logistics, Inc. operates as a third-party logistics company, providing technology-enabled global transportation and value-added logistics services in the United States and Canada. It provides domestic and international freight forwarding along with truck and rail brokerage services to a diversified account base, including manufacturers, distributors and retailers that have agent-owned offices throughout North America and other markets around the world. Its value-added logistics services include warehouse and distribution, customs brokerage, order fulfillment, inventory management, and technology services. It serves various industries, such as consumer goods, food and beverage, electronics and high-tech, aviation and automotive, military and government, and manufacturing and retail customers. As a third-party logistics provider, its primary business operations involve arranging the shipment, on behalf of its customers, of materials, products, equipment and other goods.