Celadon’s Profit Falls for 4Q, Year
Truckload carrier Celadon Group said its fiscal fourth-quarter income fell to $167,000, or 1 cent per share, from $2.2 million, or 10 cents, a year ago.
Income for its full fiscal year ended June 30 was $2.6 million, or 12 cents a share, down from $6.5 million, or 29 cents, a year ago.
The carrier saw “more than a seasonal pickup in shipments progressively through the June quarter,” Chief Executive Officer Steve Russell said in a statement.
Revenue for the quarter fell 24.4% to $116 million. Freight revenue excluding fuel surcharges fell 10.7% to $104.2 million.
For the full year, revenue fell 13.4% to $490.3 million, while freight revenue dropped 10.7% to $408.2 million.
Celadon Group is ranked No. 45 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
