Celadon Group Inc., Indianapolis reported its financial and operating results for the three months and fiscal year ended June 30, 2005.
Revenue for the quarter increased approximately 10% to $117.0 million in the 2005 quarter from $106.3 million in the 2004 quarter. Freight revenue, excluding fuel surcharges, was up 4.1% to $105.0 million in the 2005 quarter from $100.9 million in the 2004 quarter. Net income increased over 80% to $4.3 million in the 2005 quarter from $2.4 million for the same quarter last year. Diluted earnings per share improved over 60% to $0.42 in the 2005 quarter from $0.26 for the same quarter last year, despite a 13.1% increase in weighted average diluted shares outstanding resulting primarily from the company’s May 2004 stock offering. The June quarter marked the best earnings per share in the history of the company.
For the full year, revenue increased 9.8%, to $436.8 million from $397.9 million for the prior year. During fiscal year 2004, the company recognized a $6.9 million or $0.86 per diluted share non-cash, after-tax impairment charge related to used trailers. Net income for the 2005 fiscal year was $12.6 million, or $1.23 per diluted share, compared with a net loss, including the impairment charge, of $0.3 million, or $0.03 per diluted share, for the prior year.
Revenue for the quarter increased approximately 10% to $117.0 million in the 2005 quarter from $106.3 million in the 2004 quarter. Freight revenue, excluding fuel surcharges, was up 4.1% to $105.0 million in the 2005 quarter from $100.9 million in the 2004 quarter. Net income increased over 80% to $4.3 million in the 2005 quarter from $2.4 million for the same quarter last year. Diluted earnings per share improved over 60% to $0.42 in the 2005 quarter from $0.26 for the same quarter last year, despite a 13.1% increase in weighted average diluted shares outstanding resulting primarily from the company’s May 2004 stock offering. The June quarter marked the best earnings per share in the history of the company.
For the full year, revenue increased 9.8%, to $436.8 million from $397.9 million for the prior year. During fiscal year 2004, the company recognized a $6.9 million or $0.86 per diluted share non-cash, after-tax impairment charge related to used trailers. Net income for the 2005 fiscal year was $12.6 million, or $1.23 per diluted share, compared with a net loss, including the impairment charge, of $0.3 million, or $0.03 per diluted share, for the prior year.
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