Covenant Transportation Group Inc. (CVTI, Financial) filed Annual Report for the period ended 2010-12-31.
Covenant Transportation Group Inc. has a market cap of $126.5 million; its shares were traded at around $8.7 with a P/E ratio of 37.8 and P/S ratio of 0.2. Hedge Fund Gurus that owns CVTI: Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns CVTI: Donald Smith of Donald Smith & Co..
Our Solutions segment comprised approximately 7%, 9%, and 9% of our total operating revenue in 2010, 2009, and 2008, respectively. Solutions derives revenue from arranging transportation services for customers through relationships with thousands of third-party carriers and integration with our Truckload segment. Solutions provides freight brokerage services through freight brokerage agents, who are paid a commission for the freight brokerage service they provide, and directly through in-house brokerage personnel working in direct contact with customers. The main factors that impact profitability in terms of expenses are the variable costs of outsourcing the transportation freight for our customers and managing selling, general, and administrative expenses. Our brokerage loads decreased to 19,589 in 2010, from 24,769 in 2009, primarily due to a reduction in agents. Average revenue per load increased approximately 5% to $2,014 in 2010, from $1,912 in 2009, primarily due to increased rates as a result of the improved economic climate in 2010 and resulting tighter capacity for trucks along with year-over-year increases in fuel costs.
The U.S. market for truck-based transportation services was estimated to have generated $544.4 billion in 2009, according to the most recently available data published by American Trucking Associations, Inc. The trucking industry includes both private fleets and "for-hire" carriers. We operate in the highly fragmented for-hire truckload segment of this market, which generated revenues of approximately $246.2 billion in 2009. Our dedicated business also competes in the estimated $259.6 billion private fleet portion of the overall trucking market, by seeking to convince
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Covenant Transportation Group Inc. has a market cap of $126.5 million; its shares were traded at around $8.7 with a P/E ratio of 37.8 and P/S ratio of 0.2. Hedge Fund Gurus that owns CVTI: Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns CVTI: Donald Smith of Donald Smith & Co..
Highlight of Business Operations:
The aggregate market value of the common equity held by non-affiliates of the registrant as of June 30, 2010, was approximately $51 million (based upon the $6.76 per share closing price on that date as reported by NASDAQ). In making this calculation the registrant has assumed, without admitting for any purpose, that all executive officers, directors, and affiliated holders of more than 10% of a class of outstanding common stock, and no other persons, are affiliates.Our Solutions segment comprised approximately 7%, 9%, and 9% of our total operating revenue in 2010, 2009, and 2008, respectively. Solutions derives revenue from arranging transportation services for customers through relationships with thousands of third-party carriers and integration with our Truckload segment. Solutions provides freight brokerage services through freight brokerage agents, who are paid a commission for the freight brokerage service they provide, and directly through in-house brokerage personnel working in direct contact with customers. The main factors that impact profitability in terms of expenses are the variable costs of outsourcing the transportation freight for our customers and managing selling, general, and administrative expenses. Our brokerage loads decreased to 19,589 in 2010, from 24,769 in 2009, primarily due to a reduction in agents. Average revenue per load increased approximately 5% to $2,014 in 2010, from $1,912 in 2009, primarily due to increased rates as a result of the improved economic climate in 2010 and resulting tighter capacity for trucks along with year-over-year increases in fuel costs.
The U.S. market for truck-based transportation services was estimated to have generated $544.4 billion in 2009, according to the most recently available data published by American Trucking Associations, Inc. The trucking industry includes both private fleets and "for-hire" carriers. We operate in the highly fragmented for-hire truckload segment of this market, which generated revenues of approximately $246.2 billion in 2009. Our dedicated business also competes in the estimated $259.6 billion private fleet portion of the overall trucking market, by seeking to convince
Read the The complete Report
