Celadon reports revenue surge in latest quarter

Celadon Group Inc. saw a big jump in revenue in its latest quarter but a smaller profit, the Indianapolis trucking company said Wednesday.

Earnings in the company's fiscal  fourth quarter ended June 30 were $12 million, or 48 cents per share, down 22.6 percent, from $15.5 million, or 67 cents per share, in the same period a year ago.

However, when excluding the $8.8 million in earnings that Celadon recorded a year ago related to the sale of its minority ownership interest in TruckersB2B LLC, profit rose 79 percent, the company said.

Quarterly revenue rose 28 percent, from $197.4 million to $253.3 million.

Freight revenue, which excludes fuel surcharges, increased 39 percent, to $223.3 million.

For the full fiscal year, revenue increased 18.6 percent, to $900.8 million; freight revenue rose 25.1 percent, to $770 million; and profit jumped 21.2 percent, to $37.2 million.

"The financial results for the June 2015 quarter and 2015 fiscal year were the best in our history," Celadon CEO Paul Will said in a written statement.

Celadon shares rose nearly 2 percent Wednesday prior to the earnings report, to $21.39 per share.


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