Celadon Group on Thursday, Oct. 19, reported its financial and operating results for the three months ended Sept. 30, the first fiscal quarter of the company’s fiscal year ending June 30, 2007. Net income increased 51.1 percent to $7.1 million in the 2006 quarter from $4.7 million for the same quarter last year. The quarter ending September 2006 marked the highest operating income and net income in the history of the company.
Revenue for the quarter increased 8.3 percent to $127.7 million in the 2006 quarter from $117.9 million in the 2005 quarter. Freight revenue, which excludes fuel surcharges, was up 4.3 percent to $107.7 million in the 2006 quarter from $103.3 million in the 2005 quarter.
“We are pleased with the company’s results for the September 2006 quarter,” said Steve Russell, chairman and chief executive officer of the Indianapolis-based carrier. “We believe we will be able to continue to execute on our strategic plan and produce positive results going forward.”