Shipping and Trucking and Transportation, Distribution & Logistics and Distribution & Logistics

Celadon profit, revenue slides; shares to be listed on NYSE

October 28, 2009

Indianapolis-based trucking company Celadon Group Inc. on Wednesday reported lower revenue and profit during its most recent fiscal quarter, and also announced plans to list its shares on the New York Stock Exchange instead of the NASDAQ starting Nov. 10.

For the fiscal first quarter ended Sept. 30, Celadon saw profit fall 78 percent, to $600,000, or 3 cents per share, from $2.8 million, or 13 cents per share, in the same period last year. Revenue dropped 13 percent, to $127.8 million.

Management found some optimism despite a tough environment for the freight-hauling industry.

"Although the freight environment continued to reflect the weakness of the U.S. and Mexico economies, we did achieve more than a seasonal pickup in shipments progressively through the September quarter," said Celadon CEO Steve Russell in a prepared statement.

On the New York Stock Exchange, Celadon will trade under the ticker symbol CGI. It now trades on NASDAQ under CLDN.

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