Celadon shares rise on better-than-expected results

 IBJ Staff
July 30, 2013
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Celadon Group Inc.’s earnings fell 20 percent in its latest quarter, but revenue spiked and overall results topped analyst expectations.

Shares in the Indianapolis-based trucking company were up 3.6 percent Tuesday afternoon, to $19.96 each, less than a day after the earnings announcement.

Celadon reported earnings of $7.2 million, or 31 cents per share, in the fourth fiscal quarter ended June 30, down from $9 million, or 39 cents per share, in the same quarter of 2012.

Revenue for the quarter increased 3.2 percent, to $162.6 million, compared to a year ago.

Analysts expected Celadon to post earnings of 30 cents per share and revenue of $159.2 million.

Celadon saw quarterly increases in average seated truck counts, average revenue per truck and average revenue per loaded mile over the year-ago quarter.

Gains on sales of assets were $600,000 in the latest quarter compared with $3.2 million in the same quarter a year ago, a factor that helped explain the drop in overall profit.



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