Marten nearly doubles net income for 1Q
Apr 22, 2004 1:17 PM, from staff and wire reports
Marten Transport Ltd, the Mondovi WI-based refrigerated truckload carrier, has recorded a 95.6% increase in net income for the quarter ended March 31, 2004. The company totaled $2.7 million in the quarter, compared with $1.4 million for the same quarter of 2003.
Operating revenue for the quarter rose 6.6% to $84.5 million from $79.3 million for the comparable quarter of 2003.
Randolph L Marten, chairman and president, said, "Strong freight demand, improved freight selection, and disciplined operations helped us overcome the challenges of a tight driver market, high fuel prices, and an increase in insurance and claims. As a result, our operating ratio improved to 94.6% from 96.7% for the first quarter of 2003."
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