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Celadon sees quarterly rise in profit, revenue

 IBJ Staff
January 25, 2011
Keywords
Celadon, Distribution & Logistics, Financial Results, Interstates/Highways, Public Companies, Shipping, Transportation, Distribution & Logistics, Trucking
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Celadon Group Inc. on Tuesday announced higher profit and revenue in its latest quarter.

The Indianapolis-based trucking company reported revenue of $133.1 million for the fiscal second quarter ended Dec. 31, up 4.6 percent from the same quarter of 2009.

Profit was $2.9 million, or 13 cents per share, compared to $1 million, or 5 cents per share, in the same period of 2009.

Celadon Chairman and CEO Steve Russell attributed the improved financial performance to a strategy of focusing on hauling more profitable freight, which increased the company’s average rate per loaded mile.

The company also announced that Chris Hines, executive vice president of sales and marketing, who joined the firm in 2007, has decided to leave for personal reasons.

Celadon provides long-haul, full-truckload freight service across the United States, Canada and Mexico. Company shares closed Tuesday at $14.90 each, up 2.6 percent.

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