May 18, 2009 (FinancialWire) — Freight forwarding and logistics services firm Radiant Logistics, Inc.’s (OTCBB: RLGT) (Current Market Cap: US$6.94 Mil.) board has authorized the repurchase of up to five million shares of the company’s common stock through 2010.

As of March 31, the company had 34,701,960 shares outstanding.

Radiant said that the share repurchase will be funded using its existing cash balance, future free cash flow and its revolving credit facility. The revolver had $2.3 million of additional availability as of April 30, according to Radiant.

Bellevue, Washington-based Radiant Logistics operates under the Airgroup, Adcom and Radiant brands. It provides domestic and international freight forwarding services and range of supply chain management services, including order fulfillment, inventory management and warehousing through a network of around 65 locations across North America.

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