Celadon’s Fiscal 3Q Profit Jumps

Truckload carrier Celadon Group’s fiscal third-quarter profit jumped from a year ago, the company said late Tuesday.

Net income for the quarter ended March 31 rose to $2 million, or 9 cents a share, from $400,000, or 2 cents, a year earlier. Revenue rose 4.8% to $135.6 million.

“The truckload industry is experiencing a significant capacity shortage, which became more evident as the weather improved during the quarter, and has continued into the current quarter, CEO Steve Russell said in a statement.

“Fleets that have experienced poor financial performance during the recent past are unable to refresh their fleets, resulting in a major increase in fleet aging,” Russell said. “With our young fleet, we are able to attract drivers and provide excellent service to our customers.”

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