Celadon Reports Net Income Gain in its Fiscal First Quarter

October 19, 2006 4:30 PM, EDT

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ruckload carrier Celadon Group reported late Thursday it earned $7.1 million or 30 cents a share in its fiscal first quarter ended Sept. 30, up 51.1% from 4.7 million or 20 cents a share in 2005.

Revenue for the quarter increased 8.3% to $127.2 million.

Freight revenue, which excludes fuel surcharges, rose 4.3% to $107.7 million for the quarter.

Steve Russell, chief executive officer for Celadon, said the carrier’s operating ratio for its fiscal first quarter was 89.2%, down from 92.2% a year before. Celadon calculates operating ratio as total operating expenses, net of fuel surcharges, as a percentage of freight revenue.

Celadon is ranked No. 58 on the 2006 Transport Topics 100 list of the largest U.S. and Canadian for-hire carriers.