Marten carries off solid profits year-to-date
Oct 17, 2003 12:00 PM, from staff and wire reportsMarten Transport Ltd, the Mondovi WI-based refrigerated truckload carrier, has announced its financial results for the third quarter and nine months ended Sept 30, 2003.
Operating revenue for third-quarter 2003 increased 14.9% to $85.9 million from $74.7 million for the same quarter of 2002. For the nine months ended Sept 30, 2003, operating revenue climbed 15.1% to $249.4 million from $216.8 million for the comparable period of 2002.
Net income for 2003's third quarter surged 84.3% to $3.4 million from $1.9 million for the same quarter of 2002. For the first nine months of 2003, net income advanced 55.2% to $8.4 million from $5.4 million for the period a year ago.
Randolph L Marten, chairman and president, said, "The third quarter was very strong for our company. Our financial results improved as a result of stronger shipping demand, disciplined freight selection by our operations personnel, and continued cost control efforts."