Celadon’s 1Q Profit Jumps 50%

Celadon Group said late Tuesday its fiscal first-quarter net income jumped 50% on higher freight revenue and lower expenses.

Net income rose to $8.3 million, or 36 cents a share, from $5.5 million, or 24 cents, a year earlier. Revenue for the quarter ended Sept. 30 rose 6.5% to $153.3 million.

Freight revenue excluding fuel surcharges rose 6.4% to $122.1 million, the truckload carrier said.

Celadon cited a 2.2% increase in revenue per loaded mile and a decrease in operations, maintenance and fuel expenses as contributors to the improvement.

Celadon Group is ranked No. 44 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.