TARGET LOGISTICS’ EXTENDS LOSSES

TARGET LOGISTICS’ EXTENDS LOSSES

   Target Logistics Inc., the forwarding and logistics subsidiary of Target Logistics Services Inc., reported net losses for its fiscal fourth quarter and year ended June 30.

   Fourth-quarter net income was $693,803, compared to a year-earlier loss of $765,845. Revenue rose 8.2 percent to $21.2 million, while the Baltimore-based company reported an operating loss of $1.2 million, compared to $394,826 in the year-earlier period.

   For the year, Target saw a net loss of $1.8 million, compared with $1.2 million last year. Revenue rose 7.2 percent to $90.1 million, while the fiscal operating loss of $2.3 million more than doubled the $1.0 million operating loss reported last year.