Celadon Reports 2Q Revenue Up
Celadon Group, Inc. today reported that second quarter operating revenue increased 6.9%, to $97.1 million from $90.8 million for the same quarter last year. Net income increased 48.4%, to $1.5 million from $1.0 million for the same quarter last year.
The company’s fiscal year ends June 30, 2004.
Other quarterly highlights:
- Average revenue per loaded mile increased 3.5%, to $1.306, and average revenue per total mile improved 3.8%, to $1.211, as a result of higher freight rates and a lower percentage of non-revenue miles.
- Average miles per tractor per week improved 2.9%, to 2,221, as a result of improved operational discipline and increased freight demand.
- Truckers B2B generated revenue of $2.4 million and operating income of $0.5 million compared with revenue of $2.0 million and operating income of $0.3 million for the same quarter last year.