Celadon Reports Double-Digit Improvements
Celadon Group Inc. reported its financial and operating results for the three and six months ended December 31, 200
Celadon Group Inc. reported its financial and operating results for the three and six months ended December 31, 2004
, the second fiscal quarter of the company's fiscal year ending June 30, 2005.
For the quarter, operating revenue increased 10% to $106.9 million, compared with $97.1 million for the same quarter last year. Net income increased to $2.8 million from $1.5 million and diluted earnings per share increased 42% to $0.27 from $0.19 in the same quarter last year.
For the six months, operating revenue increased 10%, to $211.3 million, compared with $192.8 million for the same period last year. Net income for the six months increased to $5.5 million from a loss of $4.0 million.
Chairman and CEO Steve Russell noted that, “Average revenue per tractor per week, excluding fuel surcharge, our main measure of asset productivity, improved by 5.1%, to $2,826 from $2,689, as a result of higher rates per mile. Our average revenue per loaded mile, excluding fuel surcharge, increased by 8.2%, to $1.413 from $1.306, while average revenue per total mile, excluding fuel surcharge, improved 8.4%, to $1.313 from $1.211.
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