Marten Transport Revenue Up 14.2% for Year
Marten Transport, Ltd., Mondovi, Wis., said its fourth quarter operating revenue increased 11.7%, to $85.2 million from $76.3 million for the same quarter of 2002
Marten Transport, Ltd., Mondovi, Wis., said its fourth quarter operating revenue increased 11.7%, to $85.2 million from $76.3 million for the same quarter of 2002.
For the year, operating revenue increased 14.2%, to $334.7 million from $293.1 million for 2002.
For the quarter, net income increased to $3.5 million from $579,000 for the same quarter of 2002. For the year, net income increased 98.3%, to $11.8 million from $6.0 million for 2002.
Chairman and President Randolph L. Marten said, "We were pleased with the company's operating performance during the quarter, as both freight rates and miles per tractor improved compared with the same quarter of 2002.
"Average operating revenue per tractor per week increased 6.1%, to $2,955 from $2,784 in the fourth quarter of 2002. Average freight revenue per tractor per week increased 5.8%, to $2,846 from $2,690 in the fourth quarter of 2002. Our operating ratio (operating expenses as a percentage of operating revenue) improved to 93.3% for the quarter compared with 98.2% for the same quarter last year."
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