MONDOVI, Wis., April sixteen, 2019 (GLOBE NEWSWIRE) — Marten Transport, Ltd. (Nasdaq/GS: MRTN) nowadays said a 31.1% development in internet profits to $13.Five million, or 25 cents in line with diluted share, for the primary sector ended March 31, 2019, from $10.Three million, or 19 cents in keeping with diluted share, for the primary zone of 2018.
Operating sales advanced 6.Five% to $199.0 million for the first quarter of 2019 from $187.0 million for the first sector of 2018, and improved 12.Three% to $799.7 million for the trailing three hundred and sixty-five days ended March 31, 2019, from $711.Nine million for the similar length ended March 31, 2018. Excluding gasoline surcharges, working revenue improved 7.1% to $a hundred seventy-five. Five million for the 2019 area from $163.8 million for the 2018 area. Fuel surcharge revenue elevated barely to $23.6 million from $23.1 million over the same intervals.
Operating earnings stepped forward 30.4% to $17.7 million for the primary zone of 2019 from $thirteen.6 million for the first sector of 2018, and progressed 31.Eight% to $74.Five million for the trailing 365 days ended March 31, 2019, from $fifty six. Five million for the similar period ended March 31, 2018.
Operating fees as a percent of operating revenue improved to 91.1% for the first zone of 2019 from 92.7% for the primary sector of 2018. Operating prices as a percent of running sales, with each amount net of gas surcharges, stepped forward to 89.Nine% from 91.7% over the same duration.
Operating prices as a percent of operating sales stepped forward to 90.7% for the trailing three hundred and sixty-five days ended March 31, 2019 from ninety two.1% for the same duration ended March 31, 2018. Operating expenses as a percent of operating sales, with both amounts internet of fuel surcharges, advanced to 89.Three% from 91.1% over the same intervals.
Chairman and Chief Executive Officer Randolph L. Marten said, “We are pleased to document our persisted strong pinnacle- and bottom-line results for this sector, which produced our exceptional-ever first-region running revenue, working income and internet income. Our 30.4% yr-over-year development in operating income for the primary sector consistently furthers our 31.Eight% operating earnings increase in the final 12 months. We assume to peer sturdy call for during 2019 for our top class services with our different base of over 650 customers. We added 65 Truckload and 51 Dedicated tractors for the duration of the first sector, and we anticipate to construct in this fulfillment in recruiting and maintaining the industry’s pinnacle, experienced drivers to grow our ability to provide our current and new clients. In addition, we more desirable our balance sheet function with $85.5 million in cash on March 31, 2019, up from $fifty six.8 million at the beginning of the year.”
“A variety of our patron agreements covered a shift beginning mid-first sector closing 12 months from line haul to gasoline surcharge sales, which decreased our Dedicated and Truckload sales with the exception of gasoline surcharges by means of $2.Nine million and $782,000, respectively, for this yr’s first zone, and by means of $1.4 million and $282,000, respectively, for the primary sector of 2018. Our gas surcharge sales extended in each period with the aid of the identical quantities.”
Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted enterprise supplying a network of truck-based transportation competencies across the Company’s five wonderful business platforms – Truckload, Dedicated, Intermodal, Brokerage, and MRTN de Mexico. Marten is one of the main temperature-touchy truckload vendors within the United States, that specializes in transporting and dispensing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Marten’s dry freight offerings are expanding, with 1,596 dry trucks working as of March 31, 2019. The Company gives carrier in the United States, Canada, and Mexico, targeting expedited movements for high-volume customers. Marten’s commonplace stock is traded on the Nasdaq Global Select Market below the image MRTN.
This press release includes certain statements that can be considered forward-looking statements in the which means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements encompass a discussion of the Company’s possibilities for the future increase and with the aid of their nature involve tremendous risks and uncertainties, and actual results might also differ materially from the ones expressed in such ahead-looking statements. Important factors recognized to the Company that would motive real results to vary materially from those discussed within the ahead-looking statements are discussed in Item 1A of the Company’s Annual Report on Form 10-K for the 12 months ended December 31, 2018. The Company undertakes no obligation to accurate or update any ahead-searching statements, whether or not as an end result of recent statistics, future events or otherwise.