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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based trucking company Celadon Group Inc. on Wednesday reported lower revenue and profit during its most recent
fiscal quarter, and also announced plans to list its shares on the New York Stock Exchange instead of the NASDAQ starting
Nov. 10.
For the fiscal first quarter ended Sept. 30, Celadon saw profit fall 78 percent, to $600,000, or 3 cents
per share, from $2.8 million, or 13 cents per share, in the same period last year. Revenue dropped 13 percent, to $127.8 million.
Management
found some optimism despite a tough environment for the freight-hauling industry.
"Although the freight environment
continued to reflect the weakness of the U.S. and Mexico economies, we did achieve more than a seasonal pickup in shipments
progressively through the September quarter," said Celadon CEO Steve Russell in a prepared statement.
On the New
York Stock Exchange, Celadon will trade under the ticker symbol CGI. It now trades on NASDAQ under CLDN.
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