Marten Transport Reports Record Profits
January 23, 2013
Wisconsin-based Marten Transport has reported its highest income for any quarter as well as any year in its history.
For the fourth quarter of 2012, net income increased to $7.72 million from $7.66 million for the fourth quarter of 2011, a hike around 1% but better than Marten's previous record. It was also Marten's 11th consecutive year-over-year increase in quarterly net income.
For 2012, net income improved 12.3% to $27.3 million, from $24.3 million a year earlier.
Operating revenue from truckload and logistics operations, increased to $166.4 million in the fourth quarter of 2012 from $158.3 million in the fourth quarter of 2011, and increased to $638.5 million in 2012 from $603.7 million in 2011.
Helping to boost its numbers was fuel surcharge revenue increasing to $32.2 million for the fourth quarter of 2012 from $29.5 million in the 2011 quarter, and increasing to $121.1 million for 2012 from $113.0 million in 2011.
In a statement, chairman and CEO Randolph L. Marten said, "We are encouraged by our continued solid results, which are driven by our ongoing profitable development and growth of our regional, intermodal, brokerage and MRTN de Mexico operations in collaborative relationships with our customers.
Marten specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled environment.