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Celadon reports higher quarterly profit, revenue

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Celadon Group Inc. saw higher revenue and profit in its latest fiscal quarter, the Indianapolis-based trucking firm announced Tuesday night.

Earnings in the fiscal third quarter ended March 31 were $5.7 million, or 25 cents per share, up from $2.3 million, or 10 cents per share, in the same quarter of 2011.

Revenue for the quarter increased 10.5 percent, to $153.2 million, from $138.7 million in the 2011 quarter.

Both the revenue and earnings figures exceeded the estimates of analysts.

Freight revenue, which excludes fuel surcharges, increased 7.8 percent, to $120.9 million.

Celadon CEO Steve Russell said he was pleased with quarterly results, especially in the face of fuel prices that were 30 cents per gallon higher than the previous year.

Celadon shares closed at $14.95 each Tuesday prior to the quarterly earnings report, up 3.3 percent.

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