Truckload carrier Marten Transport Ltd. (MRTN) reported a 9.9% increase in third quarter net income from a year earlier, due in part to increased dedicated business.
Net earnings totaled $8.4 million, or 25 cents per diluted share, compared to $7.7 million, or 23 cents per diluted share, for the third quarter of 2014 for the Wisconsin-based company.
Revenue was nearly flat at $171.3 million, but operating revenue net of fuel surcharges improved 10% to $154 million from $139.9 million for the third quarter of 2014
"We have continued to grow and develop our business profitably despite a soft freight market,” said Chairman and CEO Randolph ("Randy") Marten.
He said the company expanded its truckload and dedicated revenue, net of fuel surcharges, by 12.2%; brokerage revenue by 21.3%; and intermodal revenue, net of both fuel surcharges and revenue from its discontinued dry container service, by 23.2% in this year's third quarter from the same time in 2014.
According to Marten, the company increased its truckload and dedicated tractor count by 276 tractors, nearly 12%, since the end of last year due to growth of its dedicated operations.
“We believe that we are well-positioned to continue to profitably capitalize on growth opportunities within each of our transportation service platforms with our competitive position, cost control emphasis, modern fleet of tractors and trailers and strong balance sheet,” said Randy Marten.
More information is on the Marten Transport website.