Celadon Group Announces 4Q Results
August 25, 2000
Indianapolis-based Celadon has announced the company’s financial results for the fiscal 2000 fourth quarter and year ended June 30, 2000.
Operational revenues in the June 2000 quarter rose more than 28 percent to $91.8 million compared to $71.8 million in the June 1999 quarter. Consolidated net income, excluding the loss related to Celadon’s subsidiary TruckersB2B, Inc. was $.4 million, or $.05 per share compared to net income of $1.8 million, or $.23 per share, in the prior year's fourth quarter.
Fuel costs were significantly higher during the June 2000 quarter compared with last year, which negatively impacted Celadon by more than $.13 per share in the June 2000 quarter.
Improved utilization and lower deadhead were not enough to offset the impact of the higher fuel costs and trucks with no drivers.
Including the impact of TruckersB2B, Celadon’s net loss was $1.8 million, or $0.22 per share in the June 2000 quarter. TruckersB2B accounted for a $0.28 loss per share in the June 2000 quarter.