$MRTN
MARTEN TRANSPORT LTD

2016 Q3 Form 10-Q Financial Statement

#000143774916040840 Filed on November 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q4
Revenue $170.5M $166.1M $168.8M
YoY Change -0.51% 1.53% -2.75%
Cost Of Revenue $109.7M $106.3M $107.5M
YoY Change -2.4% -0.93% -5.78%
Gross Profit $60.80M $59.80M $61.30M
YoY Change 3.23% 6.22% 3.03%
Gross Profit Margin 35.67% 36.0% 36.32%
Selling, General & Admin $23.70M $22.40M $22.10M
YoY Change 6.76% 6.16% 0.0%
% of Gross Profit 38.98% 37.46% 36.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.79M $20.37M $19.80M
YoY Change 7.55% 11.23% 11.86%
% of Gross Profit 34.19% 34.06% 32.3%
Operating Expenses $155.6M $151.3M $47.10M
YoY Change -0.89% 1.26% 6.8%
Operating Profit $14.87M $14.78M $15.24M
YoY Change 3.59% 4.34% -7.05%
Interest Expense $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net -$342.0K -$237.0K -$200.0K
YoY Change 171.43% 3850.0% -33.33%
Pretax Income $14.53M $14.54M $15.00M
YoY Change 2.1% 2.71% -6.83%
Income Tax $6.090M $6.008M $6.200M
% Of Pretax Income 41.92% 41.32% 41.33%
Net Earnings $8.437M $8.531M $8.790M
YoY Change 0.32% 2.08% -2.0%
Net Earnings / Revenue 4.95% 5.14% 5.21%
Basic Earnings Per Share $0.16 $0.16 $0.26
Diluted Earnings Per Share $0.15 $0.16 $0.26
COMMON SHARES
Basic Shares Outstanding 54.22M 54.07M
Diluted Shares Outstanding 54.53M 54.39M

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $200.0K $400.0K
YoY Change 100.0% -95.56% 300.0%
Cash & Equivalents $175.0K $208.0K $434.0K
Short-Term Investments
Other Short-Term Assets $16.70M $17.10M $2.408M
YoY Change -11.17% -10.0% -11.92%
Inventory
Prepaid Expenses
Receivables $69.87M $66.08M $70.60M
Other Receivables $3.900M $3.000M $10.90M
Total Short-Term Assets $90.70M $86.47M $100.1M
YoY Change -3.36% -14.57% -6.48%
LONG-TERM ASSETS
Property, Plant & Equipment $552.4M $537.9M $528.0M
YoY Change 3.72% 5.52% 13.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.881M $3.168M $3.469M
YoY Change -19.34% -12.15% -6.9%
Total Long-Term Assets $555.2M $541.1M $531.5M
YoY Change 3.56% 5.39% 13.21%
TOTAL ASSETS
Total Short-Term Assets $90.70M $86.47M $100.1M
Total Long-Term Assets $555.2M $541.1M $531.5M
Total Assets $645.9M $627.6M $631.5M
YoY Change 2.53% 2.11% 9.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.10M $45.10M $12.01M
YoY Change -6.87% -30.83% -29.64%
Accrued Expenses $21.63M
YoY Change 70.21%
Deferred Revenue
YoY Change
Short-Term Debt $200.0K $0.00 $0.00
YoY Change -71.43% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $64.08M $62.53M $49.88M
YoY Change -1.5% -20.71% 12.04%
LONG-TERM LIABILITIES
Long-Term Debt $8.549M $4.376M $37.87M
YoY Change -67.47% 55.36%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $8.549M $4.376M $37.87M
YoY Change -67.47% 55.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.08M $62.53M $49.88M
Total Long-Term Liabilities $8.549M $4.376M $37.87M
Total Liabilities $217.2M $208.1M $222.1M
YoY Change 1.69% 0.91% 17.81%
SHAREHOLDERS EQUITY
Retained Earnings $355.4M $347.7M $332.6M
YoY Change 9.45% 9.66% 10.79%
Common Stock $73.35M $71.73M $76.80M
YoY Change -20.02% -21.44% -12.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $428.7M $419.5M $409.4M
YoY Change
Total Liabilities & Shareholders Equity $645.9M $627.6M $631.5M
YoY Change 2.53% 2.11% 9.55%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q4
OPERATING ACTIVITIES
Net Income $8.437M $8.531M $8.790M
YoY Change 0.32% 2.08% -2.0%
Depreciation, Depletion And Amortization $20.79M $20.37M $19.80M
YoY Change 7.55% 11.23% 11.86%
Cash From Operating Activities $24.20M $25.00M $27.30M
YoY Change -18.24% 34.41% 15.68%
INVESTING ACTIVITIES
Capital Expenditures -$48.10M -$48.70M -$36.00M
YoY Change -35.7% -6.53% 12.85%
Acquisitions
YoY Change
Other Investing Activities $19.00M $18.60M $14.60M
YoY Change 31.03% 19.23% 71.76%
Cash From Investing Activities -$29.10M -$30.10M -$21.60M
YoY Change -51.66% -17.53% -7.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.000M 4.100M -5.400M
YoY Change -80.92% 485.71% 1700.0%
NET CHANGE
Cash From Operating Activities 24.20M 25.00M 27.30M
Cash From Investing Activities -29.10M -30.10M -21.60M
Cash From Financing Activities 5.000M 4.100M -5.400M
Net Change In Cash 100.0K -1.000M 300.0K
YoY Change -102.27% -94.19% -400.0%
FREE CASH FLOW
Cash From Operating Activities $24.20M $25.00M $27.30M
Capital Expenditures -$48.10M -$48.70M -$36.00M
Free Cash Flow $72.30M $73.70M $63.30M
YoY Change -30.75% 4.24% 14.05%

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CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
191000
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3469000
CY2016Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
4727000
CY2015Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
4933000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
14749000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
13684000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
33000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
30000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7513000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2436000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2518000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
127000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
16715000
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
18134000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
3508000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2363000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
130128000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
94437000
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
754448000
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
724597000
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
552356000
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
528009000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
159446000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
92530000
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
355350000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
332625000
CY2016Q3 us-gaap Revenues
Revenues
170464000
CY2015Q3 us-gaap Revenues
Revenues
171346000
us-gaap Revenues
Revenues
498483000
us-gaap Revenues
Revenues
496221000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2363000
CY2015Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1127000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3508000
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
741000
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1200000
CY2015Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
40000000
CY2007Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000
CY2015Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2000000
CY2016Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
455581
CY2016Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0
CY2016Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0
CY2015Q4 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
941024
CY2016Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
7500000
CY2015Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
16175000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
7513000
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
428700000
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
409421000
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
387926000
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
416366000
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We must make estimates and assumptions to prepare the consolidated condensed financial statements in conformity with U.S. generally accepted accounting principles. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities in the consolidated condensed financial statements and the reported amount of revenue and expenses during the reporting period. These estimates are primarily related to insurance and claims accruals and depreciation. Ultimate results could differ from these estimates.</div></div></div></div></div>
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32715000
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33846000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32653000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33816000
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32531000
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33622000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32476000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33555000

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