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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCeladon 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.
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