Celadon Group Reports March Quarter Results And Declares Dividend

"We continue to work on driver recruitment and retention as the market remains challenging for qualified drivers.    A shrinking supply of qualified drivers along with economic and safety regulatory issues, should result in a more constrained truckload capacity for shippers in the future.  In this environment of soft freight and pricing pressure, we are continuing to focus on our customer relationships that can provide us with freight opportunities that will drive better equipment utilization through lane density and lower deadhead, while being more driver friendly that will drive better overall margins.  We are continuing to work on cost reduction initiatives as we strive to improve our operating results."

"At March 31, 2016, we had $380.0 million of stockholders' equity and our earnings before interest, taxes, depreciation and amortization were $31.1 million in the current March 2016 quarter and $149.7 for the year ending March 31, 2016.  At March 31, 2016, we had $151.9 million outstanding borrowings on our operating bank line of $300 million." 

On April 26, 2016, the Board of Directors approved a regular cash dividend to shareholders for the quarter ending June 30, 2016.  The quarterly cash dividend of two cents ($0.02) per share of common stock will be payable on July 22, 2016 to shareholders of record at the close of business on July 8, 2016.

Conference Call Information

Participants can pre-register for the conference call by navigating to Celadon's Investor Relations Website, http://investors.celadontrucking.com, under the Report Center menu option.  Those without internet access or unable to pre-register may join the conference by dialing 1-800-695-3244.  A replay of the webcast will be available through June 1, 2016 at http://investors.celadontrucking.com.

Celadon Group, Inc. (www.celadongroup.com), through its subsidiaries, provides long-haul, regional, local, dedicated, intermodal, temperature-protect, flatbed and expedited freight service across the United States, Canada and Mexico.  The company also owns Celadon Logistics Services, which provides freight brokerage services, freight management, as well as supply chain management solutions, including warehousing and distribution.

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may be identified by their use of terms or phrases such as "expects," "estimates," "projects," "believes," "anticipates," "plans," "intends," and similar terms and phrases. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.  Actual results may differ from those set forth in the forward-looking statements.  The following factors, among others, could cause actual results to differ materially from those in forward-looking statements: the risk that our perception of additional capacity due to seating trucks and perceived benefits thereof are inaccurate; the risk that our perception of changes in our customer base and perceived benefits thereto are inaccurate; the risk that managing our tractor fleet age does not result in greater flexibility and lower operating expenses; excess tractor and trailer capacity in the trucking industry; decreased demand for our services or loss of one or more of our major customers; surplus inventories; recessionary economic cycles and downturns in customers' business cycles; strikes, work slow downs, or work stoppages at our facilities, or at customer, port, border crossing, or other shipping related facilities; increases in compensation for and difficulty in attracting and retaining qualified drivers and independent contractors; increases in insurance premiums and deductible amounts; elevated experience in the frequency or severity of claims relating to accident, cargo, workers' compensation, health, and other matters; fluctuations in claims expenses that result from high self-insured retention amounts and differences between estimates used in establishing and adjusting claims reserves and actual results over time; increases or rapid fluctuations in fuel prices, as well as fluctuations in hedging activities and surcharge collection, the volume and terms of diesel purchase commitment, interest rates, fuel taxes, tolls, and license and registration fees; fluctuations in foreign currency exchange rates; increases in the prices paid for new revenue equipment and changes in the resale value of our used equipment; increases in interest rates or decreased availability of capital or other sources of financing for revenue equipment; seasonal factors such as harsh weather conditions that increase operating costs; competition from trucking, rail, and intermodal competitors; regulatory requirements that increase costs or decrease efficiency, including revised hours-of-service requirements for drivers and new emissions control regulations; our ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; the timing of, and any rules relating to, the opening of the border to Mexican drivers; challenges associated with doing business internationally; our ability to retain key employees; and the effects of actual or threatened military action or terrorist attacks or responses, including security measures that may impede shipping efficiency, especially at border crossings.

Readers should review and consider these factors along with the various disclosures by the company in its press releases, stockholder reports, and filings with the Securities Exchange Commission.  We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information.

- tables follow -

CELADON GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME  (Dollars and shares in thousands except per share amounts) (Unaudited)
		For the three months ended				For the nine months ended
		March 31,				March 31,
		2016		2015		2016		2015
REVENUE:
Revenue, before fuel surcharge		$239,851		$201,727		$726,974		$546,636
Fuel surcharge revenue		19,723		29,975		74,120		100,852
Total revenue		259,574		231,702		801,094		647,488
OPERATING EXPENSES:
Salaries, wages, and employee benefits		78,251		68,257		245,605		189,048
Fuel		22,725		33,713		77,141		112,897
Purchased transportation		84,956		64,408		267,934		166,273
Revenue equipment rentals		5,932		1,620		10,355		6,859
Operations and maintenance		17,394		15,539		53,243		39,768
Insurance and claims		8,830		7,729		23,466		20,626
Depreciation and amortization		19,611		20,457		60,399		53,747
Communications and utilities		2,643		2,183		7,598		6,110
Operating taxes and licenses		5,143		4,369		15,647		11,382
General and other operating		4,590		3,682		13,676		10,564
Gain on disposition of equipment		(2,032) Werbung Mehr Nachrichten zur Celadon Group Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 18.04.24 - PR Newswire Fidelity Emerging Markets Ltd - Transaction in Own Shares 18.04.24 - PR Newswire BH Macro Limited - Transaction in Own Shares 18.04.24 - PR Newswire Rightmove Plc - Transaction in Own Shares Auf zur INVEST am 26.+ 27.04.2024    Foto: Landesmesse Stuttgart GmbH - Jetzt kostenloses Ticket sichern! weiterlesen» Anzeige wo-site-teaser-box-16688_site-teaser-box_2024-04-17_09%253A00%253A00_2024-04-22_09%253A00%253A59