Celadon’s quarterly profit, revenue improve

Celadon Group Inc. on Tuesday announced higher profit and revenue in its latest fiscal quarter.

The Indianapolis-based trucking company reported revenue of $140.3 million for the fiscal first quarter ended Sept. 30, up 9.8 percent from the same quarter a year ago.

Profit was $4.4 million, or 20 cents per share, compared to $600,000, or 3 cents per share, in the year-ago period.

The earnings exceeded the expectations of eight analysts polled by Thomson Reuters, who  predicted earnings of 16 cents per share.

Celadon Chairman and CEO Steve Russell attributed the improved financial performance on cost controls and the company's ability to charge higher rates while holding business steady.

Celadon provides long-haul, full-truckload freight service across the United States, Canada and Mexico. Company shares fell 62 cents, or 4.5 percent, in Wednesday morning trading, to $12.98 each.

Please enable JavaScript to view this content.

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets in {{ count_down }} days.