Covenant Transportation Group, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015
January 25, 2016 at 04:01 pm EST
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Covenant Transportation Group, Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, total revenue was $208,062,000 against $206,788,000 a year ago. Operating income was $24,336,000 against $24,650,000 a year ago. Income before income taxes was $22,703,000 against $23,155,000 a year ago. Net income was $13,230,000 or $0.73 per basic and diluted share against $13,545,000 or $0.82 per diluted share a year ago.
For the year, total revenue was $724,240,000 against $718,980,000 a year ago. Operating income was $67,782,000 against $39,646,000 a year ago. Income before income taxes was $63,907,000 against $32,582,000 a year ago. Net income was $42,085,000 or $2.30 per diluted share against $17,808,000 or $1.15 per diluted share a year ago. Tangible book value per basic share was $11.15 against $9.34 a year ago.
Covenant Logistics Group, Inc., through its subsidiaries, offers a portfolio of transportation and logistics services to customers throughout the United States. The Companyâs primary services include asset-based expedited and dedicated truckload capacity, as well as asset-light warehousing, transportation management and freight brokerage capability. Its asset-based transportation services include two segments: Expedited and Dedicated. The Expedited segment primarily provides truckload services to customers. The Dedicated segment provides customers with committed truckload capacity over contracted periods. The Managed Freight segment includes its brokerage services and transportation management services (TMS). The Warehousing segment provides day-to-day warehouse management services for customers who have chosen to outsource this function. It also provides shuttle and switching services related to shuttling containers and trailers in or around freight yards and to/from warehouses.
COVENANT LOGISTICS GROUP, INC. 
