Celadon Group’s 4Q Profit Jumps

Celadon Group said Monday its fiscal fourth-quarter profit jumped to more than $2.7 million from less than $200,000 a year ago, boosted by an improving freight environment.

Net earnings soared to $2.73 million, or 12 cents per share, from $167,000, or 1 cent, a year ago. Revenue for the quarter ended June 30 rose 19% to $139 million.

Celadon broadened its customer base and benefitted from higher trade with Mexico, as Mexico has become more competitive with Asian manufacturers, Chief Executive Officer Steve Russell said in a statement.

For the full year, Celadon’s earnings rose 81% to $4.7 million, or 21 cents per share, while revenue improved 7% to $523.5 million.

Celadon began trading its shares on the New York Stock Exchange last November under the symbol “CGI,” after previously trading under the “CLDN” symbol on the Nasdaq Stock Market.

Celadon Group is ranked No. 42 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.