Marten Transport Reports Record First-Quarter Operating Revenue and Net Income

Revenue Rises 16 Percent to $70 Million -- the Eighth Consecutive

Double-Digit Quarterly Percentage Increase



Apr 19, 2001, 01:00 ET from Marten Transport, Ltd.

    MONDOVI, Wis., April 19 /PRNewswire/ --
     Marten Transport, Ltd. (Nasdaq:   MRTN) today reported revenue of
 $70 million for the first quarter ended March 31, 2001, an increase of
 16 percent from $60.3 million in the first quarter last year.  First-quarter
 net income increased to $1,648,000, or 39 cents per diluted share, from
 $1,624,000, or 38 cents per diluted share, in the first quarter of 2000.
     Operating income for the first quarter was $4,117,000, compared with
 $3,827,000 last year.  Marten's operating ratio, which compares operating
 costs to revenue, increased to 94.1 percent from 93.7 percent in the first
 quarter last year.
     "This was our eighth consecutive quarter of double-digit percentage
 increases in operating revenue," said Randolph L. Marten, president and
 chairman of the board.  "Both revenue and net income set first-quarter
 records, reflecting continued strong growth in shipments from an expanding
 customer base.  Our key productivity measures show improvement in the level of
 equipment utilization, which -- along with fuel surcharges -- helped offset
 the higher cost of diesel fuel."
     Marten Transport, Ltd., with headquarters in Mondovi, Wis., strives to be
 the premier supplier of time- and temperature-sensitive truckload motor
 carrier services to customers nationwide.  At the end of the first quarter,
 Marten operated a fleet of 1,891 tractors and 2,669 trailers, which are all
 53-foot trailers.  The company serves customers with more demanding delivery
 deadlines or those who ship products requiring modern temperature-controlled
 trailers to protect goods.  The company's common stock is traded on The Nasdaq
 Stock Market under the symbol MRTN.
 
 
     MARTEN TRANSPORT, LTD.
     CONDENSED STATEMENTS OF OPERATIONS
     (In thousands, except per share amounts)
     (unaudited)                                   Three Months Ended March 31,
                                                        2001           2000
 
     Operating revenue                                $69,967        $60,293
 
     Operating expenses                                65,850         56,466
     Operating income                                   4,117          3,827
 
     Other expenses (income):
     Interest expense                                   1,552          1,277
 
     Interest income and other                            (93)           (69)
         Total interest and other expense               1,459          1,208
     Income before income taxes                         2,658          2,619
     Provision for income taxes                         1,010            995
     Net income                                        $1,648         $1,624
 
     Basic and diluted earnings per common share        $0.39         $ 0.38
 
     Weighted average common shares outstanding:
         Basic                                          4,180          4,274
         Diluted                                        4,197          4,293
 
     CONDENSED BALANCE SHEETS
     (In thousands)                                 March 31,       Dec. 31,
                                                       2001           2000
     ASSETS                                        (unaudited)
     Receivables                                      $31,079        $33,487
     Prepaid expenses and other                         7,801          8,195
     Deferred income taxes                              2,111          2,276
         Total current assets                          40,991         43,958
     Property and equipment, net                      163,561        166,385
     Other assets                                       1,840          1,730
         Total assets                                $206,392       $212,073
 
     LIABILITIES AND
       SHAREHOLDERS' INVESTMENT
     Current liabilities                              $23,409        $23,994
     Long-term debt, less current maturities           80,616         88,216
     Deferred income taxes                             35,060         34,018
         Total liabilities                            139,085        146,228
     Shareholders' investment                          67,307         65,845
         Total liabilities and shareholders'
           investment                                $206,392       $212,073
 
     Except for historical information contained herein, the disclosures in
 this news release are forward-looking statements which could be affected by
 certain risks and uncertainties, and actual results may differ materially,
 depending on a variety of factors, such as the industry driver shortage, the
 market for revenue equipment, fuel prices and general weather and economic
 conditions.  These risks are described in the Company's Annual Report on Form
 10-K for the year ended Dec. 31, 2000.
 
     For more information contact Tom Langenfeld of BlueFire Partners,
 612-344-1038, for Marten Transport, Ltd., or Randy Marten, President of Marten
 Transport, Ltd., 715-926-4216.
 
 

SOURCE Marten Transport, Ltd.
    MONDOVI, Wis., April 19 /PRNewswire/ --
     Marten Transport, Ltd. (Nasdaq:   MRTN) today reported revenue of
 $70 million for the first quarter ended March 31, 2001, an increase of
 16 percent from $60.3 million in the first quarter last year.  First-quarter
 net income increased to $1,648,000, or 39 cents per diluted share, from
 $1,624,000, or 38 cents per diluted share, in the first quarter of 2000.
     Operating income for the first quarter was $4,117,000, compared with
 $3,827,000 last year.  Marten's operating ratio, which compares operating
 costs to revenue, increased to 94.1 percent from 93.7 percent in the first
 quarter last year.
     "This was our eighth consecutive quarter of double-digit percentage
 increases in operating revenue," said Randolph L. Marten, president and
 chairman of the board.  "Both revenue and net income set first-quarter
 records, reflecting continued strong growth in shipments from an expanding
 customer base.  Our key productivity measures show improvement in the level of
 equipment utilization, which -- along with fuel surcharges -- helped offset
 the higher cost of diesel fuel."
     Marten Transport, Ltd., with headquarters in Mondovi, Wis., strives to be
 the premier supplier of time- and temperature-sensitive truckload motor
 carrier services to customers nationwide.  At the end of the first quarter,
 Marten operated a fleet of 1,891 tractors and 2,669 trailers, which are all
 53-foot trailers.  The company serves customers with more demanding delivery
 deadlines or those who ship products requiring modern temperature-controlled
 trailers to protect goods.  The company's common stock is traded on The Nasdaq
 Stock Market under the symbol MRTN.
 
 
     MARTEN TRANSPORT, LTD.
     CONDENSED STATEMENTS OF OPERATIONS
     (In thousands, except per share amounts)
     (unaudited)                                   Three Months Ended March 31,
                                                        2001           2000
 
     Operating revenue                                $69,967        $60,293
 
     Operating expenses                                65,850         56,466
     Operating income                                   4,117          3,827
 
     Other expenses (income):
     Interest expense                                   1,552          1,277
 
     Interest income and other                            (93)           (69)
         Total interest and other expense               1,459          1,208
     Income before income taxes                         2,658          2,619
     Provision for income taxes                         1,010            995
     Net income                                        $1,648         $1,624
 
     Basic and diluted earnings per common share        $0.39         $ 0.38
 
     Weighted average common shares outstanding:
         Basic                                          4,180          4,274
         Diluted                                        4,197          4,293
 
     CONDENSED BALANCE SHEETS
     (In thousands)                                 March 31,       Dec. 31,
                                                       2001           2000
     ASSETS                                        (unaudited)
     Receivables                                      $31,079        $33,487
     Prepaid expenses and other                         7,801          8,195
     Deferred income taxes                              2,111          2,276
         Total current assets                          40,991         43,958
     Property and equipment, net                      163,561        166,385
     Other assets                                       1,840          1,730
         Total assets                                $206,392       $212,073
 
     LIABILITIES AND
       SHAREHOLDERS' INVESTMENT
     Current liabilities                              $23,409        $23,994
     Long-term debt, less current maturities           80,616         88,216
     Deferred income taxes                             35,060         34,018
         Total liabilities                            139,085        146,228
     Shareholders' investment                          67,307         65,845
         Total liabilities and shareholders'
           investment                                $206,392       $212,073
 
     Except for historical information contained herein, the disclosures in
 this news release are forward-looking statements which could be affected by
 certain risks and uncertainties, and actual results may differ materially,
 depending on a variety of factors, such as the industry driver shortage, the
 market for revenue equipment, fuel prices and general weather and economic
 conditions.  These risks are described in the Company's Annual Report on Form
 10-K for the year ended Dec. 31, 2000.
 
     For more information contact Tom Langenfeld of BlueFire Partners,
 612-344-1038, for Marten Transport, Ltd., or Randy Marten, President of Marten
 Transport, Ltd., 715-926-4216.
 
 SOURCE  Marten Transport, Ltd.