Marten Transport Increases Second Quarter Income and Revenue
July 17, 2013
Wisconsin-based temperature-controlled trucking company Marten Transport reported an increase in net income to $7.7 million, for the second quarter ended June 30, compared to $7.6 million from the same time last year.
For the six-month period ended June 30, net income increased 14.1% to $14.9 million, from $13 million, in the 2012 six-month period.
Operating revenue, consisting of revenue from truckload and logistics operations, increased to $161.4 million in the second quarter of 2013 from $157 million from a year earlier and increased to $325.9 million in the 2013 six-month period from $308.4 million in the 2012 six-month period.
With the March 2013 deconsolidation of MW Logistics, no MWL revenue was included in the second quarter of 2013 compared with $8.1 million in the 2012 quarter. MWL revenue included in the first six months of 2013 decreased by $9.7 million from the first six months of last year with the deconsolidation.
“We continue to grow and expand our business despite continued slow economic growth and a challenging rate environment, says Randy Marten, chairman and CEO. “Our total truckload, intermodal and broker loads were up 13.2% in the second quarter of 2013 over the prior year’s quarter. We believe the strong positioning of our truckload operations has continued to pay benefits, including a 2.8% increase in miles per tractor and a 2.6% increase in revenue per tractor over the second quarter of 2012.
He notes the increases were on top of the 6.0% and 5.4% improvements in these measurements in the second quarter of 2012 over the second quarter of 2011.
On May 13 , Marten Transport announced that its board of directors declared a three-for-two stock split of the company’s common stock. The stock split resulted in stock dividend payable on June 14, to stockholders of record as of
More details on Marten’s financial performance can be found on the company's web site.