Celadon Group Announces First Quarter Results; TruckersB2B Reports 350% Sequential Quarterly Revenue Growth.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Nov. 2, 2000 Celadon celadon Chinese, Korean, Siamese, and Japanese stoneware decorated with glazes the colour range of which includes greens of various shades, olive, blue, and gray. The colours are the result of a wash of slip (liquefied clay) containing a high proportion of iron that is Group, Inc. (Nasdaq:CLDN CLDN Calling Line Directory Number CLDN Claudin (gene family) ) today announced financial results for the fiscal 2001 first quarter ended September September: see month. 30, 2000. Consolidated revenue for the three months ended September 30, 2000 was $88.4 million, an increase of 7% compared with the 1999 September quarter of $82.7 million. The net loss was $470,000, or six cents a share, compared to a loss of $589,000, or eight cents a share, in the prior year. For the quarter, TruckersB2B, Inc. accounted for a loss of six cents a share. This loss resulted from marketing and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. associated with the new business that began operations in March 2000. Revenue at TruckersB2B increased to $900,000 in the September 2000 quarter, from $200,000 in the June June: see month. quarter, which was the first full quarter of operations for the business. The revenue for the September quarter represents over $25 million in purchases made by our member companies through the TruckersB2B network. The Company indicated that TruckersB2B now has over 225,000 member trucks enrolled, represented by over 6,000 separate companies in the U.S. and Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of . Further, in view of current market conditions, the Company has decided to not pursue a public offering for TruckersB2B at this time. In its trucking activities, revenue in the September quarter rose more than 6% to $87.5 million compared to $82.7 million in the prior September quarter. Approximately $1 million of this increase related to the dedicated warehousing operations for Cummins This article is about the diesel engine manufacturer. For other uses, see Cummins (disambiguation). Cummins Inc. (NYSE: CMI) is a maker of diesel and natural gas engines whose corporate headquarters is located in Columbus, Indiana. and Navistar. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. declined from $4.4 million to $2.4 million. The principal factor causing this decline was substantially higher fuel costs. As a long haul Long distance. Long haul implies traversing a state or a country. Contrast with short haul. carrier, fuel is a significant element of cost. Surcharges lag the price changes, and cover only about 70% of the cost increase. Profits at Jaguar, the company's Mexican Mexican named after or originating in Mexico. Mexican axolotl see ambystomamexicanum. Mexican beaded lizard (Heloderma horridum affiliate, trailed year earlier results as the final implementation phase of a new operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. impacted results. Improved utilization of the fleet was offset by a higher percent of deadhead dead·head Informal n. 1. A person who uses a free ticket for admittance, accommodation, or entertainment. 2. A vehicle, such as an aircraft, that transports no passengers or freight during a trip. 3. miles compared to prior year's levels. TruckersB2B is an Internet-based "Business-to-Business  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. " provider of pre-negotiated savings to its members on fuel, tires, freight finding, insurance, and other products and services purchased by small and medium-sized trucking companies and private fleets. TruckersB2B aggregates the volume purchasing capability of its members to achieve a lower cost of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. than could usually be obtained by its members individually. The discounts and rebates are provided to TruckersB2B members by leading vendors who are seeking to increase their sales volume and market share by utilizing the TruckersB2B "eMember Marketing" program to complement their traditional marketing methods. Celadon Group Inc., is a trucking and e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. company headquartered in Indianapolis, IN. The Company operates approximately 2,500 line haul tractors and 7,000 trailers. Please visit the company's websites at: www.celadontrucking.com and www.truckersb2b.com. The discussion set forth above as well as oral statements made by officers of the company relating thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. , may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such comments are based upon information currently available to management and management's perception thereof as of the date of this press release. Actual results of the company's operations could materially differ from those forward looking statements. Such differences could be caused by a number of factors including, but not limited to, potential adverse affects of regulation; changes in competition and the effects of such changes; increased competition; change in fuel prices; changes in economic, political or regulatory environments; changes in the availability of a stable labor force; ability of the company to hire drivers meeting company standards; changes in management strategies; environmental or tax matters; and risks described from time to time in reports filed by the company with the Securities and Exchange Commission. Readers should take these factors into account in evaluating any such forward looking statements.
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Celadon Group, Inc. (Nasdaq:CLDN)
Consolidated Operating Results
(Unaudited)
(Amounts in thousands, except per share amounts)
Three Months Ended
9/30/00 9/30/99
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Revenue
- Truckload $87,518 $82,665
- TruckersB2B 909 ---
-------- --------
Total Revenue 88,427 82,665
Operating income (loss)
- Truckload 2,435 4,415
- TruckersB2B (686) ---
-------- --------
Total operating income 1,749 4,415
Other (income) expense:
Other expense 33 89
Loss on disposition of equipment --- 3,266(a)
Interest expense 2,359 2,030
Interest income (36) (28)
Minority interest in subsidiary (12) ---
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Loss before tax (595) (942)
Benefit for income taxes (125) (353)
-------- ---------
Net loss $(470) $(589)
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Loss per share:
Diluted $(0.06) $(0.08)
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Basic $(0.06) $(0.08)
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Weighted average number of
Common shares outstanding
Diluted 7,783,603 7,771,956
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Basic 7,783,603 7,771,956
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(a) Includes a one-time charge related to the early disposition of company equipment as a result of the Zipp Express, Inc. acquisition. |
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