Marten Transport Ltd., Mondovi, Wis., announced its financial and operating results for the quarter and six months ended June 30, 2005.

For the quarter ended June 30, 2005, operating revenue increased 22.7%, to $112.8 million from $91.9 million for the 2004 quarter. For the six months ended June 30, 2005, operating revenue increased 22.3%, to $215.7 million from $176.4 million for the 2004 period. Operating revenue included fuel surcharges of $12.7 million and $22.4 million for the quarter and six months of 2005, compared with $5.6 million and $9.6 million for the quarter and six months of 2004. Operating revenue also included non-freight revenue from MW Logistics LLC, a 45% owned
affiliate, and brokerage revenue.
For the quarter ended June 30, 2005, net income increased 40.5%, to $6.8 million from $4.8 million for the 2004 quarter. Net income per diluted share increased to 46 cents from 33 cents for the 2004 quarter. For the six months ended June 30, 2005, net income increased 53.4%, to $11.6 million from $7.5 million for the 2004 period. Net income per diluted share increased to 79 cents from 52 cents for the 2004 period.
Chairman and President Randolph L. Marten said, "We had a strong quarter, with the key components being continued focus on customer service that allowed us to increase rates and produce solid utilization and keeping our trucks seated with drivers. In view of the competitive driver market, I was especially pleased with our ability to find drivers to expand our company- owned fleet and enhance revenue growth.
"Our results were driven by a 5.7% increase in average freight revenue per tractor per week, which improved to $3,097 from $2,930 in the 2004 quarter. Pricing was favorable as we increased our average freight revenue per total mile 8.0%, to $1.385 from $1.283 in the 2004 quarter. For the quarter, our operating ratio (operating expenses as a percentage of operating revenue) improved to 90.0%, compared with 91.4% in the 2004 quarter.”