Marten Transport says 2Q net income up 22.4%

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Updated Jul 18, 2012

Marten Transport

Marten Transport on Tuesday, July 17, reported a 22.4 percent increase in net income to $7.6 million for the second quarter ended June 30, from $6.2 million for the second quarter of 2011. For the six-month period ended June 30, net income increased 26.6 percent to $13.0 million from $10.3 million in the 2011 six-month period.

Operating revenue, consisting of revenue from truckload and logistics operations, increased to $157.0 million in the second quarter from $151.1 million in the second quarter of 2011, and increased to $308.4 million in the six-month period from $289.0 million in the 2011 six-month period.

Operating revenue, net of fuel surcharges, increased 4.4 percent to $127.2 million in the second quarter from $121.8 million in the 2011 second quarter, and increased 6.6 percent to $249.8 million in the six-month period from $234.3 million in the 2011 six-month period.

Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharge revenue, improved to 89.6 percent for the second quarter from 90.7 percent for the second quarter of 2011, and improved to 90.9 percent for the six-month period from 91.9 percent for the 2011 six-month period.

“We are pleased that the efficiencies of our regional operations continue to drive growth in our net income and improvement in our operating ratio,” said Randolph Marten, chairman and chief executive officer of the Mondovi, Wis.-based company. “We have increased our regional operations to 69 percent of our truckload fleet as of June 30 from 60.7 percent as of a year earlier – an increase reflected in a 5.4 percent improvement over last year’s second quarter in our average truckload revenue, net of fuel surcharges, per tractor per week.”

Marten said his company’s focus on developing a multifaceted business model with a diverse customer base has expanded its regional operations as well as its logistics business. “Our logistics revenue, net of fuel surcharge revenue, grew 6 percent in the 2012 six-month period over the same period in 2011,” he said. “These strategies helped us to achieve our ninth consecutive year-over-year increase in quarterly profitability, as well as our best operating ratio net of fuel surcharge revenue since the second quarter of 2006.”