Alan Petersime/Bloomberg News
Celadon Group Inc. reported its fiscal fourth-quarter net income rose on strong freight volumes and an increased average seated tractor count.
The company earned $15.5 million, or 65 cents per share, up from $7.2 million, or 31 cents, a year earlier.
Revenue for the quarter ended June 30 rose 21.4% to $197.4 million.
Full-year net income increased to $30.7 million, or $1.29 per share, from $27.3 million, or $1.17, in fiscal 2013.
Revenue for the year increased 23.7% to $759.3 million. Freight revenue for the year, which excludes fuel surcharges, increased 25.8% to $615.4 million.
“We increased our average seated tractor count by 421, or 15%, to 3,191 in the June 2014 quarter compared to 2,770 in the June 2013 quarter, a significant operating metric improvement that resulted in increased revenue for the quarter,” CEO Paul Will said in a statement.