Celadon Group’s Fiscal-Year Profit Improves
Celadon Group said its fourth-quarter profit fell 20% from a year ago but rose for its fiscal year.
Net income for the quarter ended June 30 declined to $7.2 million, or 31 cents a share, from $9 million, or 39 cents, a year ago.
Revenue rose 3.2% to $162.6 million, Celadon said late Monday. Freight revenue excluding fuel surcharges rose 5.7% to $131.4 million.
For the year, net income rose 7.1% to $27.3 million, or $1.17 per share, from $25.5 million, or $1.12 per share, the previous year.
Revenue rose 2.4% to $613.6 million, and freight revenue excluding fuel surcharges increased 2.9% to $489 million.
Celadon’s average revenue per tractor per week rose $43, or 1.5%, to $2,941 in June from a year ago, while revenue per loaded mile increased to $1.59 from $1.55.
Its tractor fleet’s average age fell year-over-year to 1.4 years in June from 1.5 years, and its trailer fleet’s average declined to 2.2 years from 2.8 years.
Celadon Group, Indianapolis, is ranked No. 44 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.
