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MARTEN TRANSPORT POSTS REVENUE AND PROFIT INCREASES FOR THIRD-QUARTER AND NINE-MONTH PERIODS

 MONDOVI, Wis., Nov. 3 /PRNewswire/ -- Marten Transport, Ltd. (NASDAQ-NMS: MRTN), a nationwide trucking firm based here, reported increased revenue and profits for the third-quarter and nine-month periods ended Sept. 30, 1993.
 Revenue in the third quarter rose 16 percent to $29.1 million, compared with revenue of $25.2 million for the same period in 1992. Net income for the period increased to $2.6 million, or 77 cents per share, versus $1.0 million, or 29 cents per share, for the year-earlier period. The 1993 profits reflect $883,000 in proceeds of a life insurance policy for Roger R. Marten, the company's founder and former chairman and chief executive officer, as well as a $397,000 gain on disposition of revenue equipment.
 Operating income for the third quarter was $3.5 million, compared with $2.2 million in 1992. The company's operating ratio improved to 88.0 percent for 1993 from 91.3 percent last year.
 For the nine-month period ended September 30, 1993, revenue improved 15 percent to $83.2 million, versus $72.2 million for the same period in 1992. Net income rose to $5.1 million, or $1.49 per share, compared with $2.5 million, or 73 cents per share, in 1992. The year-to-date gain on disposition of revenue equipment totaled $1.1 million.
 Nine-month operating income totaled $8.8 million in 1993, compared with $5.7 million in 1992. The operating ratio improved to 89.4 percent in 1993 from 92.1 percent in 1992.
 "We continue to benefit from the sale of used revenue equipment, which remains on target with our expectations," said Randy Marten, chairman, president and chief operating officer. "In addition, our strong results reflect an increase in business volume and improved utilization of our fleet. We will continue to focus on enhancing utilization, but we anticipate that costs associated with new fuel regulations may affect fourth-quarter results."
 Marten Transport, with headquarters in Mondovi, provides time -- and temperature-sensitive truckload motor carrier services to customers nationwide. The company services customers with more demanding delivery deadlines or those who ship products requiring modern temperature- controlled trailers to protect goods. Marten's shares are traded on the NASDAQ National Market System under the symbol MRTN.
 MARTEN TRANSPORT, LTD.
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended Nine Months Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Operating revenue $29,079,457 $25,176,499 $83,183,210 $72,188,753
 Operating expenses 25,580,953 22,991,584 74,356,792 66,513,686
 Operating income 3,498,504 2,184,915 8,826,418 5,675,067
 Net interest expense
 and other 564,450 536,177 1,732,323 1,546,965
 Income before items
 below 2,934,054 1,648,738 7,094,095 4,128,102
 Provision for income
 taxes 1,173,622 643,008 2,837,638 1,609,960
 Income before extra-
 ordinary item 1,760,432 1,005,730 4,256,457 2,518,142
 Proceeds of life insurance
 policy 883,284 -- 883,284 --
 Net income $2,643,716 $1,005,730 $5,139,741 $2,518,142
 Earnings per common and common
 equivalent share data:
 Income before extra-
 ordinary item $0.51 $0.29 $1.23 $0.73
 Extraordinary item 0.26 -- 0.26 --
 Net income $0.77 $0.29 $1.49 $0.73
 Weighted average common
 and common equivalent
 shares outstanding 3,462,006 3,433,274 3,459,211 3,432,566
 -0- 11/3/93
 /CONTACT: Kathy Burnham or Marian Briggs of Padilla Speer Beardsley, 612-871-8877, for Marten Transport; or Darrell D. Rubel of Marten Transport, 715-926-4216/
 (MRTN)


CO: Marten Transport, Ltd. ST: Minnesota IN: TRN SU: ERN

DB-AL -- MN011 -- 0267 11/03/93 15:48 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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