Marten Transport’s 2Q income, revenue both up

user-gravatar

Marten Transport on Wednesday, July 19, announced its financial and operating results for the quarter and six months ended June 30. For the quarter, net income increased 11.5 percent, to $7.5 million from $6.8 million for the 2005 quarter. For the six months ended June 30, net income increased 8.8 percent, to $12.6 million from $11.6 million for the 2005 period.

For the quarter, operating revenue increased 16.9 percent, to $131.9 million from $112.8 million for the 2005 quarter. For the six months ended June 30, operating revenue increased 16.6 percent, to $251.4 million from $215.7 million for the 2005 period. Operating revenue included fuel surcharges of $20.4 million and $36.2 million for the quarter and six months of 2006, compared with $12.7 million and $22.4 million for the quarter and six months of 2005.

“Our results for the quarter reflect an operating environment characterized by normal seasonal freight demand, limited industry equipment capacity, high fuel prices, intense competition for qualified drivers, and shippers that are willing to pay good rates for access to equipment and high levels of service,” said Randolph L. Marten, chairman and president of Mondovi, Wis.-based Marten Transport. “This operating environment was reflected in our operating results, where increased revenue per tractor per week was offset by higher costs, primarily in fuel and driver wages.”