Key Developments For Marten Transport Ltd
Marten Transport Ltd (MRTN.O) (Nasdaq)
Marten Transport, Ltd. Announces Appointment Of New President
Marten Transport, Ltd. announced that its Board has appointed Timothy M. Kohl to serve as its President, effective June 2, 2008. Randolph L. Marten will remain Chairman and Chief Executive Officer.
Marten Transport, Ltd. Announces One Million Share Repurchase Program For Common Stock
Marten Transport, Ltd. announced that its Board of Directors has approved a share repurchase program for the Company to repurchase up to one million shares of its common stock. This program is intended to be implemented through purchases made in either the open market or through private transactions, in accordance with Securities and Exchange Commission requirements. The timing and extent to which the Company repurchases its shares depends on market conditions and other corporate considerations. The repurchase program does not have an expiration date.
Marten Transport, Ltd. Comments On Q4 2007 Net Income Guidance
Marten Transport, Ltd. announced that for fourth quarter of 2007 the Company do not expect net income to exceed last year's level. The Company reported net profit of $5.47 million for fourth quarter of 2006. According to Reuters Estimates, analysts were expecting the Company to report net profit of $4.70 million for fourth quarter of 2007.
Marten Transport, Ltd. Sees Remainder Of FY 2007 Growth Difficult
Marten Transport, Ltd. announced that for fiscal 2007 it expects continued growth, yet difficulty for the remainder of 2007 in reaching double-digit revenue growth or improved earnings per share versus second half of 2006.
Marten Transport, Ltd. Comments on FY 2007 Revenue Outlook
Marten Transport, Ltd. announced that for fiscal 2007, the Company expects to remain consistent with our long-term plan, which is for approximately 10% annual growth in operating revenue, before fuel surcharge, and earnings per share. However, if expectations of an improving freight market during the second half of 2007 is realized, the goal would be to improve operating ratio on a full-year basis. Based on tough comparisons from the first half of 2006, the Company would expect any improvement in operating ratio to come in the second half of 2007. According to Reuters Estimates, analysts on average are expecting the Company to report revenue of $563.78 million for fiscal 2007.
