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April 28, 2005 8:00 AM, EDT

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arget Logistics Inc. reported net income for its fiscal third quarter ended March 31 was $264,894 or 1 cent per share, compared with $114,981 or 1 cent a year earlier.

The company said its operating revenue rose to $31.4 million from $31.3 million a year earlier.

Target had announced its acquisition March 15 of Air Cargo International, a privately held logistics and third-party logistics provider, which it said Thursday it planned to integrate into its network.

“We are currently operating ahead of our previously announced net income guidance of an 80% to 120% increase for fiscal 2005 and are within our previously announced revenue guidance of 9% to 11%,” said Stuart Hettleman, the company’s president.

The company is looking for future acquisitions, he said in a statement.