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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Celadon Group Inc. yesterday reported fiscal second-quarter revenue of $119.6 million, a nearly 14-percent decline from the same period last year.
Profit was unchanged, at $1.7 million for both the 2008 and 2007 quarters. Celadon’s latest fiscal quarter ended Dec. 31.
CEO Steve Russell said the trucking company is feeling the effects of the weakened economy.
“Although we have seen a significant reduction in capacity in the truckload industry, through fleet failures and the lack of new … tractors being built, demand has declined at a greater rate,” Russell said in a statement.
Celadon and its competitors are cutting costs by lowering truck speeds, implementing strict idling policies and renegotiating fuel-purchasing arrangements.
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