Celadon Group Inc. announces third quarter results.NEW YORK--(BUSINESS WIRE)--May 4, 1995--Celadon Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CLDN CLDN Calling Line Directory Number CLDN Claudin (gene family) ) reported consolidated revenue for the third quarter ended March 31, 1995 of $66.8 million, a 54.0% increase over prior year third quarter consolidated revenue of $43.3 million. Net income attributable to common stockholders increased 151% to $1.5 million or 20 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the quarter ended March 31, 1995, as compared to $.6 million or 11 cents per share for the quarter ended March 31, 1994. For the nine months ended March 31, 1995, consolidated revenue was $182.1 million, or a 38.4% increase over the comparable quarter in 1994 of $131.6 million. Net income attributable to common stockholders increased 123% to $4.3 million or 61 cents per share for the nine months ended March 31, 1995, as compared to $1.6 million or 40 cents per share for the nine months ended March 31, 1994. Trucking revenue increased to $28.6 million, an increase of 21.3% for the three months ended March 31, 1995, from $23.6 million in the prior year comparable period. On Dec. 20, 1994, the Mexican Mexican named after or originating in Mexico. Mexican axolotl see ambystomamexicanum. Mexican beaded lizard (Heloderma horridum peso was devalued de·val·ue also de·val·u·ate v. de·val·ued also de·valu·at·ed, de·val·u·ing also de·val·u·at·ing, de·val·ues also de·val·u·ates v.tr. 1. To lessen or cancel the value of. , creating substantial instability instability /in·sta·bil·i·ty/ (-stah-bil´i-te) lack of steadiness or stability. detrusor instability in the trade between the U.S. and Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. . Accordingly, the company redeployed its tractor tractor, in agriculture, vehicle used to pull such equipment as plows, cultivators, and mowers; to power stationary devices such as saws and winches; and to push snowplows and earth-moving implements. fleet to increase its emphasis on domestic U.S. trade and reduce its trailer In communications, a code or set of codes that make up the last part of a transmitted message. See trailer label. fleet as a result of the need to retain a smaller pool of trailers in Mexico. Domestic revenue for the quarter ended March 31, 1995 increased 41.8% compared with the comparable period in 1994. Revenue for the quarter ended March 31, 1995 in the U.S. - Mexico trade lanes increased by 6.3% compared with 1994. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. , including a gain from the sale of trailers aggregating $382,000, was $3.6 million for the quarter ended March 31, 1995 compared with the same period of the prior year of $2.9 million. For the nine months ended March 31, 1995, operating profit was $10.6 million as compared with $8.4 million in the comparable period of the prior year. Operating ratio Operating Ratio A ratio that shows the efficiency of management by comparing operating expense to net sales: for the three months ended March 31, 1995 was 87.4% compared with 87.8% for the comparable quarter of the prior year. Freight forwarding revenue increased $17.1 million or 89.9%, to $36.1 million for the three months ended March 31, 1995. This increase primarily reflected the additional business obtained as a result of the partnership with Swissair's Jacky Maeder, which was formed on Oct. 31, 1994. Further, the acquisition of Guestair Ltd., in the U.K. which was Jacky Maeder's agent, also contributed to the increase. Freight forwarding operating profit increased to $547,000 for the quarter ended March 31, 1995, from $214,000 in the similar period of the prior year. This increase primarily related to the benefits of the combination with Jacky Maeder. 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. is an international transportation company offering long-haul, full truckload truck·load n. The quantity that a truck can hold. truckload n → camión m lleno transportation and international freight forwarding and logistics services.
Celadon Group Inc.
Operating Results by Segment
(Amounts in thousands except per share amounts)
For the three months For the nine months
ended ended
3/31/95 3/31/94 3/31/95 3/31/94
Revenues:
Trucking $28,619 $23,600 $85,570 $68,553
Freight forwarding 36,143 19,037 90,959 61,460
Logistics and other 1,993 698 5,563 1,601
Total revenue $66,755 $43,335 $182,092 $131,614
Operating income:
Trucking 3,601 $ 2,884 $ 10,622 $ 8,380
Freight forwarding 547 214 1,150 701
Logistics and other 271 168 835 343
Costs associated with the
formation of Celadon/Jacky
Maeder Company -- -- (1,125) --
Total from operating segment 4,419 3,266 11,482 9,424
Other deductions (income):
Corporate 919 839 2,631 2,484
Interest 935 1,030 2,809 3,531
(Gain) on sales of
unconsolidated affiliate -- -- -- (188)
(Gain) on sale of minority
interest in United States
Freight Forwarding Business -- -- (1,450) --
Minority interest 98 -- 143 --
Other deductions (gain) (29) 17 (23) 17
Income before tax 2,496 1,380 7,372 3,580
Income taxes 969 584 3,040 1,638
Net income 1,527 796 4,332 1,942
Preferred dividends -- 188 -- 263
Net income attributable
to common stockholders $1,527 $608 $4,332 $1,679
Primary shares outstanding 7,673 5,471 7,049 4,201
Earnings per share $.20 $.11 $.61 $.40
CONTACT: Celadon Group Inc. Brian L. Reach, 800/839-4227 |
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