Marten Transport Profit Falls 26%
April 15, 2014
Marten Transport on Tuesday reported net income of $5.3 million, or 16 cents per diluted share, in the first quarter of the year, compared with $7.2 million, or 22 cents per diluted share, in the first quarter of 2013.
The Wisconsin-based refrigerated truckload carrier said operating revenue, consisting of revenue from truckload and logistics operations, decreased to $159.4 million in the first quarter of 2014 from $164.5 million in the first quarter of 2013.
"Our results reflect the impact of the severe weather conditions that greatly hindered each of our operating segments in this year's first quarter," said Chairman and CEO Randolph L. Marten. "The conditions were unusually harsh and widespread, significantly affecting both freight volumes and operating costs."
He said Marten is “better positioned than ever for the remainder of 2014 and beyond based on the current freight environment” noting, despite tough conditions the company increased tractor utilization and improved revenue per tractor 3.9% over the first quarter of 2013.
More information is on the Marten Transport website.