Celadon Group Inc. improved revenue and profit in its third fiscal quarter despite lower volumes attributed to bad weather, the Indianapolis-based trucking company said Tuesday.
Revenue in the three months ended March 31 was $135.6 million, up almost 5 percent from the same period last year.
Profit increased to $2 million, or 9 cents per diluted share, compared to $400,000, or 3 cents per share, in the year-ago period.
An 11-cent one-time gain tied to Celadon’s TruckersB2B e-commerce site offset a 10-cent charge connected to two unusual expenses: a weather-related accident and a worker’s compensation claim.
But Celadon officials still managed to increase the company’s average rate per loaded mile by 6.5 percent.
"Overall, the truckload industry is experiencing a significant capacity shortage, which became more evident as the weather improved during the quarter,” Chairman and CEO Steve Russell said in a prepared statement.