Marten Transport reported nearly 93% increase in net income

Freeman Staff

April 14, 2015

MONDOVI — During its regular financial report Tuesday, Marten Transport, Ltd. announced it had a 92.7 percent increase in net income to $10.2 million during its first quarter, which was nearly double the income during the first quarter of 2014.

For the first quarter of last year, Marten Transport had $5.3 million in net income. According to the announcement, results for the first quarter of 2015 included a gain on the disposition of a facility of $3.7 million, which is part of the company’s ongoing program to expand and update the footprint of its facilities throughout the United States.

Operating revenue, consisting of revenue from truckload, dedicated, intermodal and brokerage operations, increased 1.2 percent to $161.3 million for the first quarter of 2015 from $159.4 million for the first quarter of 2014. Operating revenue, net of fuel surcharges, improved 10.3 percent to $140.7 million for the 2015 quarter from $127.5 million for the 2014 quarter.

“We are pleased with our strong performance in the first quarter and believe we can leverage the solid foundation provided by our truckload, dedicated, intermodal and brokerage operations to take advantage of the current and expected tightening capacity for continued profitable growth,” said Chairman and Chief Executive Officer Randolph L. Marten in a statement. “We are also encouraged by the growth of our dedicated operations, with our segment operating revenue, net of fuel surcharges, growing 85.2 percent to $19.9 million for the first quarter of 2015 from $10.7 million for last year’s first quarter.”

www.marten.com