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COPYRIGHT 2002 Business Wire
Business Editors
INDIANAPOLIS--(BUSINESS WIRE)--Jan. 31, 2002
Celadon Group, Inc. (Nasdaq: CLDN):
-- Reports Profit of 3 cents per share versus 7 cent Loss in Prior Year -- Revenue Of $79.3 Million Up 5% From Adjusted Prior Year Level -- TruckersB2B Posts Profit Vs. Loss in Prior Year
Celadon Group, Inc. (Nasdaq: CLDN) today reported net income for the quarter ended December 31, 2001 increased to $199,000, or three cents per diluted share, compared with a loss of $555,000, or seven cents per diluted share, in the prior year's comparable period. Consolidated revenue for the three months ended December 31, 2001 was $79.3 million, a five percent increase over an adjusted $75.4 million reported for the same period a year earlier. The adjusted revenues for the December 2000 quarter exclude revenues from the divested flatbed division and higher pass-through revenues related to U.S. border-crossing costs. Including these revenues, reported revenue in the prior year's comparable period was $87.0 million.
Celadon Group reported income before taxes of $328,000 for the quarter ended December 31, 2001, compared with a loss before taxes of $838,000 in the prior-year December quarter, an improvement of $1,166,000. Approximately $380,000 of this improvement in income before taxes is a result of the company's early adoption of the provisions of Financial Accounting Standards Board (FASB) Statement No. 142, effective July 1, 2001. This...
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