Celadon’s Fiscal Third-Quarter Earnings Rise

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ruckload carrier Celadon Group said late Wednesday it earned $4.7 million or 30 cents a share in its fiscal third quarter ended March 31, up from $2.7 million or 18 cents a year earlier.

Indianapolis-based Celadon said its revenue rose 6.3% to $115.3 million.

The earnings-per-share amounts reflect the company’s 3-for-2 stock split, which took effect Feb. 15. (Click here for previous coverage.)

“We believe capacity growth in our industry continues to be constrained by a shortage of qualified drivers,” said Chief Executive Officer Steve Russell.

“We address the driver shortage by recruiting safe and experienced drivers, providing newer equipment, and offering competitive compensation and lifestyle programs,” he said in a statement.

Celadon is ranked No. 55 on the Transport Topics 100 list of the largest U.S. and Canadian for-hire carriers.