Revenue Up Nearly 15% at Marten Transportation
Marten Transport Ltd., Mondavi, Wis., said that for the quarter ended Sept. 30, 2003, operating revenue increased 14.9% to $85.9 million from $74.7 million for the same quarter of 2002
Marten Transport Ltd., Mondavi, Wis., said that for the quarter ended Sept. 30, 2003, operating revenue increased 14.9% to $85.9 million from $74.7 million for the same quarter of 2002.
For the nine months ended Sept. 30, 2003, operating revenue increased 15.1% to $249.4 million from $216.8 million for the same period of 2002.
Operating revenue included fuel surcharges of $3.1 million and $11.0 million for the quarter and nine months ended Sept. 30, 2003, compared with $1.5 million and $2.9 million for the quarter and nine months ended Sept. 30, 2002. Excluding fuel surcharge revenue, the increase in revenue was 13.1% for the quarter and 11.5% for the nine months.
Chairman and President Randolph L. Marten said, "The third quarter was very strong for our company. Our financial results improved as a result of stronger shipping demand, disciplined freight selection by our operations personnel, and continued cost control efforts.
"Average operating revenue per tractor per week increased 6.6% to $2,993 from $2,809 in the third quarter of 2002. Average freight revenue per tractor per week increased 4.8% to $2,886 from $2,753 in the third quarter of 2002."
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