Celadon Group Inc. on Monday reported a 63.6-percent increase in earnings in its latest fiscal quarter on higher revenue.
The Indianapolis-based trucking firm said earnings rose to $9 million, or 39 cents per share, in the fiscal fourth quarter, which ended June 30. That's an improvement from $5.5 million, or 24 cents, in the fourth quarter of fiscal 2011.
Quarterly revenue rose 4 percent, to $157.5 million.
"Several key factors attributed to the improvement, including an increase of 4.1 percent in rates, a decrease in overall equipment costs and a decrease in operations and maintenance expense," Celadon said in a prepared statement about the quarterly results.
For the fiscal year, Celadon revenue increased 5.4 percent, to $599 million. Earnings rose 67.8 percent, to $25.5 million.
The company approved a cash dividend to shareholders for the quarter ending Sept. 30 of 2 cents per share.
Celadon stock rose 4 cents Monday, to $14.58 per share, before the company reported financial results.
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