Mondovi WI-based refrigerated truckload carrier Marten Transport Ltd has reported financial results for the third quarter and nine months ended Sept 30, 2004.
Operating revenue increased 14.0% to $97.9 million for the third quarter from $85.9 million for the same quarter of 2003. For the nine months ended Sept 30, 2004, operating revenue rose 10.0% to $274.3 million from $249.4 million for the comparable period of 2003.
For the 2004 third quarter, net income surged 39.2% to $4.8 million from $3.4 million for the 2003 quarter. For the nine months of 2004, net income advanced 47.3% to $12.3 million from $8.4 million for the nine-month period in 2003.
Randolph L Marten, chairman and president, said, “We are pleased with our third-quarter results, particularly the improvement in our operating ratio in a period of record-high fuel prices and intense competition for high-quality drivers. Our operating ratio improved to 92.0% for the quarter compared with 93.1% for the same quarter last year.”