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Celadon Reports Decreased Revenues for Fiscal Third Quarter

April 29, 2013

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Celadon Group Inc.reported its financial and operating results for the three months ended March 31, 2013, the third fiscal quarter of the company's fiscal year ending June 30, 2013.

Revenue for the quarter decreased 2.4% to $149.6 million in the 2013 quarter from $153.3 million in the 2012 quarter. Freight revenue decreased 1.9% to $118.7 million in the 2013 quarter from $121 million in the 2012 quarter.
Net income decreased 22.8% to $4.4 million in the 2013 quarter from $5.7 million for the same quarter last year. Earnings per diluted share decreased 24% to $0.19 in the 2013 quarter from $0.25 for the same quarter last year.
For the nine months ended March 31, 2013, revenue increased 2.2% to $451.0 million in 2013 from $441.5 million for the same period last year. Freight revenue, which excludes fuel surcharges, increased 1.9% to $357.6 million in 2013 from $350.8 million for the same period last year.
Net income increased to $20.0 million in 2013 from $16.6 million for the same period last year. Earnings per diluted share increased to $0.86 in 2013 from $0.73 for the same period last year.
"Winter weather storms in 2013 resulted in decreased availability for freight movements compared with the prior year. Our benefits expense related to medical claims negatively impacted the 2013 quarter by approximately three cents in earnings per share compared with prior year due to some unusually high medical claims that were incurred in the quarter," said Paul Will, president and CEO.

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