Baltimore-based Target Logistics Inc.'s profit dips

Daily Record, The (Baltimore), Sep 20, 2007

Target Logistics Inc., of Baltimore, a domestic and international freight forwarder and logistics provider, reported net income for its fiscal fourth quarter ended June 30 of $422,021, or 2 cents per diluted share, versus $642,564, or 3 cents per diluted share, for the same period last year. Fourth-quarter revenue increased 12.1 percent to $45.3 million, compared to the $40.4 million reported in the comparable 2006 fiscal period.

Target had announced earlier that it has agreed to be acquired by New Zealand-based Mainfreight Limited. a global supply chain logistics provider, in an all-cash transaction valued at approximately $53.7 million.