Marten Transport Ltd., Mondovi, Wis., said operating revenues - consisting of revenue from truckload and logistics operations - increased 5.3 percent to $138.8 million in the second quarter of 2007 from $131.9 million in the 2006 quarter.
For the six-month period of 2007, operating revenue increased 7.5 percent to $270.2 million from $251.4 million for the 2006 period. Truckload revenue increased 1.2 percent to $123.7 million from $122.2 million in the 2006 quarter. For the six-month period of 2007, truckload revenue increased 2.9 percent to $241.9 million from $235.1 million for the 2006 period.
Logistics revenue, which consists of revenue from brokerage and intermodal operations, increased 57 percent to $15.1 million from $9.6 million in the 2006 quarter. For the six-month period of 2007, logistics revenue increased 74 percent to $28.4 million from $16.3 million for the 2006 period.
Operating revenue included fuel surcharges of $21.1 million and $38.5 million for the second quarter and six-month period of 2007, compared with $20.9 million and $36.9 million for the second quarter and six-month period of 2006. Operating revenue, net of fuel surcharges, increased 6.1 percent to $117.7 million in the 2007 quarter and 8.0 percent to $231.7 million in the 2007 six-month period.
For the second quarter ended June 30, 2007, net income decreased to $4.3 million, or 20 cents per diluted share, from $7.5 million, or 34 cents per diluted share, for the same quarter of 2006. For the six-month period of 2007, net income decreased to $8.9 million, or 41 cents per diluted share, from $12.6 million, or 57 cents per diluted share, for the 2006 period. The second quarter and six-month period of 2006 included a one-time tax benefit of approximately $875,000, or 4 cents per diluted share.
Chairman, President and Chief Executive Officer Randolph L. Marten said, "During the quarter we continued to execute our program of providing excellent service to our customers with moderate fleet growth. The freight environment was challenging, however, which caused downward pressure on freight rates, fewer miles per tractor and increased non-revenue miles. As a result, average truckload revenue per tractor per week, net of fuel surcharges, decreased 3.4 percent to $3,108 from $3,216 in the second quarter of 2006. Average truckload revenue, net of fuel surcharges, per total mile decreased slightly to $1.470 from $1.472 in the second quarter of 2006 while average miles per tractor decreased 3.2 percent.
"From a growth perspective, our average truckload tractor fleet increased 5.1 percent over the 2006 quarter. Logistics revenue increased $5.5 million, or 57 percent, on a relatively small base. Logistics revenue consists of revenue from our internal brokerage and intermodal operations and from revenue associated with our 45 percent interest in MW Logistics LLC, a third-party provider of logistics services."
For the six-month period of 2007, operating revenue increased 7.5 percent to $270.2 million from $251.4 million for the 2006 period. Truckload revenue increased 1.2 percent to $123.7 million from $122.2 million in the 2006 quarter. For the six-month period of 2007, truckload revenue increased 2.9 percent to $241.9 million from $235.1 million for the 2006 period.
Logistics revenue, which consists of revenue from brokerage and intermodal operations, increased 57 percent to $15.1 million from $9.6 million in the 2006 quarter. For the six-month period of 2007, logistics revenue increased 74 percent to $28.4 million from $16.3 million for the 2006 period.
Operating revenue included fuel surcharges of $21.1 million and $38.5 million for the second quarter and six-month period of 2007, compared with $20.9 million and $36.9 million for the second quarter and six-month period of 2006. Operating revenue, net of fuel surcharges, increased 6.1 percent to $117.7 million in the 2007 quarter and 8.0 percent to $231.7 million in the 2007 six-month period.
For the second quarter ended June 30, 2007, net income decreased to $4.3 million, or 20 cents per diluted share, from $7.5 million, or 34 cents per diluted share, for the same quarter of 2006. For the six-month period of 2007, net income decreased to $8.9 million, or 41 cents per diluted share, from $12.6 million, or 57 cents per diluted share, for the 2006 period. The second quarter and six-month period of 2006 included a one-time tax benefit of approximately $875,000, or 4 cents per diluted share.
Chairman, President and Chief Executive Officer Randolph L. Marten said, "During the quarter we continued to execute our program of providing excellent service to our customers with moderate fleet growth. The freight environment was challenging, however, which caused downward pressure on freight rates, fewer miles per tractor and increased non-revenue miles. As a result, average truckload revenue per tractor per week, net of fuel surcharges, decreased 3.4 percent to $3,108 from $3,216 in the second quarter of 2006. Average truckload revenue, net of fuel surcharges, per total mile decreased slightly to $1.470 from $1.472 in the second quarter of 2006 while average miles per tractor decreased 3.2 percent.
"From a growth perspective, our average truckload tractor fleet increased 5.1 percent over the 2006 quarter. Logistics revenue increased $5.5 million, or 57 percent, on a relatively small base. Logistics revenue consists of revenue from our internal brokerage and intermodal operations and from revenue associated with our 45 percent interest in MW Logistics LLC, a third-party provider of logistics services."
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