Profit up at Marten Transport

Mondovi, WI, US:  Marten Transport raised its net profit 47% to US$7.1m in the fourth quarter as the refrigerated carrier’s revenue jumped 15.9% to $158.3m.

Net profit for the full year rose 23% to $24.3m on a 16.8% increase in operating revenue to $603.7m, Marten said yesterday. The carrier built on progress in the third quarter of 2011, when Marten increased net profit 15.5 percent to $6.3 million on higher revenue, volume and surcharges.

A more diversified portfolio with higher logistics and brokerage revenue and more regional truckload business is powering the trucking company’s expansion.

“We have emphasized developing a diverse customer base that gains value from and expands each of our operating units,” said Randolph L. Marten, chairman and CEO.

Truckload revenue, excluding fuel surcharges, increased 13.6 percent to $94.2 million in the quarter, while fuel surcharges rose 39.9 percent to $25.6 million.

For the full year, trucking revenue without surcharge sreached $357.8 million, a 9.8 percent increase. Logistics revenue rose 15.3 percent to $132.9 million.

Expanding regional operations contributed to a 6.5 percent increase in average truckload revenue per tractor per week, net of fuel surcharges, Marten said. By Dec. 31, regional freight accounted for 64.7 percent of Marten Transport’s truckload business, a significant increase from a 51.8 percent share of its freight in 2010.