Celadon boosts financial performance

Back to TopCommentsE-mailPrintBookmark and Share

Celadon Group Inc. improved revenue and profit in its third fiscal quarter despite lower volumes attributed to bad weather, the Indianapolis-based trucking company said Tuesday.

Revenue in the three months ended March 31 was $135.6 million, up almost 5 percent from the same period last year.

Profit increased to $2 million, or 9 cents per diluted share, compared to $400,000, or 3 cents per share, in the year-ago period.

An 11-cent one-time gain tied to Celadon’s TruckersB2B e-commerce site offset a 10-cent charge connected to two unusual expenses: a weather-related accident and a worker’s compensation claim.

But Celadon officials still managed to increase the company’s average rate per loaded mile by 6.5 percent.

"Overall, the truckload industry is experiencing a significant capacity shortage, which became more evident as the weather improved during the quarter,” Chairman and CEO Steve Russell said in a prepared statement.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ