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Celadon's profit, revenue slide in latest quarter

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Celadon Group Inc. saw earnings and revenue slip in its latest quarter, the Indianapolis-based trucking company reported Thursday.

Earnings fell 23 percent in the fiscal third quarter ended March 31, to $4.4 million, or 19 cents per share, compared with the same period of 2012. Revenue fell 2.4 percent, to $149.6 million.

The results fell short of analyst predictions of 26 cents per share in earnings and $151.7 million in revenue.

Celadon CEO Paul Will noted that the latest quarter had two fewer business days than the previous year's period and was hampered by heavy winter storms.

Will said the company also had unusually high medical claims in the quarter, which resulted in a drop of 3 cents per share in earnings compared to the same period a year ago.

Celadon stock closed Thursday at $17.96 per share prior to the earnings release, up 15 cents. The stock has fallen more than 17 percent in the past month.

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