This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Marten Transport Announces Third Quarter Results

MONDOVI, Wis., Oct. 16, 2012 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (Nasdaq:MRTN) today reported a 2.9% increase in net income to $6.5 million, or 29 cents per diluted share, for the third quarter ended September 30, 2012, from $6.3 million, or 29 cents per diluted share, for the third quarter of 2011. Net income increased 17.6% for the 2012 nine-month period to $19.5 million, or 88 cents per diluted share, from $16.6 million, or 75 cents per diluted share, in the 2011 nine-month period. It was the Company's tenth consecutive year-over-year increase in quarterly profitability.

Operating revenue, consisting of revenue from truckload and logistics operations, increased to $163.6 million in the third quarter of 2012 from $156.3 million in the third quarter of 2011, and increased to $472.0 million in the 2012 nine-month period from $445.3 million in the 2011 nine-month period. Operating revenue, net of fuel surcharges, increased 4.6% to $133.3 million in the 2012 quarter from $127.5 million in the 2011 quarter, and increased 5.9% to $383.2 million in the 2012 nine-month period from $361.8 million in the 2011 nine-month period. Fuel surcharge revenue increased to $30.3 million for the third quarter of 2012 from $28.8 million in the 2011 quarter, and increased to $88.9 million for the 2012 nine-month period from $83.5 million for the 2011 nine-month period.

Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharge revenue, increased to 92.6% for the third quarter of 2012 from 91.3% for the third quarter of 2011, and improved to 91.5% for the 2012 nine-month period from 91.7% for the 2011 nine-month period.

Marten's effective income tax rate decreased to 33.4% for the third quarter of 2012 from 41.4% for the third quarter of 2011, primarily due to a decrease to the Company's deferred income tax liability as a result of a change in income apportionment for several states. As a result, Marten's effective income tax rate decreased to 39.3% for the 2012 nine-month period from 43.4% for the 2011 nine-month period.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs