Celadon’s Fiscal 2Q Profit Jumps

Truckload carrier Celadon Group said its fiscal second-quarter profit almost tripled from a year ago as its rate-per-mile improved.

Net income for the quarter ended Dec. 31 was $2.9 million, or 13 cents per share, compared with $1 million, or 5 cents, a year earlier. Revenue rose 4.6% to $133.1 million.

The company’s strategy to focus on profitable freight and eliminate less desirable freight resulted in an increase in its rate per loaded mile excluding fuel surcharge of 6.6%, CEO Steve Russell said.

Celadon Group is ranked No. 42 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.