Marten Transport announced operating revenue for the quarter ended June 30, 2006, operating revenue increased 16.9 percent, to $131.9 million from $112.8 million for the 2005 quarter.
For the six months ended June 30, 2006, operating revenue increased 16.6 percent, to $251.4 million from $215.7 million for the 2005 period. Operating revenue included fuel surcharges of $20.4 million and $36.2 million for the quarter and six months of 2006, compared with $12.7 million and $22.4 million for the quarter and six months of 2005.
The company's freight revenue, which excludes fuel surcharge and non-freight revenue, increased 6.1 percent over the 2005 quarter and 6.7% over the 2005 six-month period.
For the quarter ended June 30, 2006, net income increased 11.5 percent, to $7.5 million from $6.8 million for the 2005 quarter. Net income per diluted share increased to 34 cents from 31 cents for the 2005 quarter. For the six months ended June 30, 2006, net income increased 8.8 percent , to $12.6 million from $11.6 million for the 2005 period.
Chairman and President Randolph L. Marten said, "Our results for the quarter reflect an operating environment characterized by normal seasonal freight demand, limited industry equipment capacity, high fuel prices, intense competition for qualified drivers, and shippers that are willing to pay good rates for access to equipment and high levels of service. This operating environment was reflected in our operating results, where increased revenue per tractor per week was offset by higher costs, primarily in fuel and driver wages.
"Our largest challenge continues to be the ability to find qualified, safe and experienced drivers. Our average number of tractors increased 2.1 percent in the second quarter of 2006. Average miles per tractor decreased 2.3 percent because of increased tractor count and the challenge of recruiting and retaining sufficient drivers. The driver market has been and remains as difficult as we have ever seen it.”
For the six months ended June 30, 2006, operating revenue increased 16.6 percent, to $251.4 million from $215.7 million for the 2005 period. Operating revenue included fuel surcharges of $20.4 million and $36.2 million for the quarter and six months of 2006, compared with $12.7 million and $22.4 million for the quarter and six months of 2005.
The company's freight revenue, which excludes fuel surcharge and non-freight revenue, increased 6.1 percent over the 2005 quarter and 6.7% over the 2005 six-month period.
For the quarter ended June 30, 2006, net income increased 11.5 percent, to $7.5 million from $6.8 million for the 2005 quarter. Net income per diluted share increased to 34 cents from 31 cents for the 2005 quarter. For the six months ended June 30, 2006, net income increased 8.8 percent , to $12.6 million from $11.6 million for the 2005 period.
Chairman and President Randolph L. Marten said, "Our results for the quarter reflect an operating environment characterized by normal seasonal freight demand, limited industry equipment capacity, high fuel prices, intense competition for qualified drivers, and shippers that are willing to pay good rates for access to equipment and high levels of service. This operating environment was reflected in our operating results, where increased revenue per tractor per week was offset by higher costs, primarily in fuel and driver wages.
"Our largest challenge continues to be the ability to find qualified, safe and experienced drivers. Our average number of tractors increased 2.1 percent in the second quarter of 2006. Average miles per tractor decreased 2.3 percent because of increased tractor count and the challenge of recruiting and retaining sufficient drivers. The driver market has been and remains as difficult as we have ever seen it.”
media brand
0 Comments
See all comments