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Covenant’s First-Quarter Loss Narrows

4/25/2012 5:15:00 PM
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Covenant Transportation Group reported a first-quarter loss of $640,000, or 4 cents per share, compared with a loss of $2.5 million, or 17 cents, a year earlier.

Total revenue edged up 0.4% to $157 million, while freight revenue slipped 2% to $121.9 million, the truckload carrier said in a statement Wednesday.

Operating income climbed to $2.4 million, from $300,000 last year.

Covenant Transportation Group is ranked No. 36 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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Emil Estafanous, CPA, CFF, CGMA