Marten Transport raised its net profit 47 percent to $7.1 million in the fourth quarter as the refrigerated carrier’s revenue jumped 15.9 percent to $158.3 million.
For the full year, net profit rose 23 percent to $24.3million on a 16.8 percent increase in operating revenue to $603.7 million, Marten said Wednesday. 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.