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The information below is issued for public notice by Marten Transport, Ltd. regarding its corporate news and other announcements. For information on financial results, please visit our Quarterly Earnings page.
RELEASE DATE: November 18, 2009
MARTEN TRANSPORT, LTD.
Stephens Inc. Fall
Investment Conference Presentation
RELEASE DATE: April 8, 2009
MARTEN TRANSPORT, LTD. NAMED TO THE 2009 AUDIT INTEGRITY TOP 100
MONDOVI, Wis. (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (NasdaqGS:MRTN - News) is pleased to announce that it has been named to the Audit Integrity Top 100 for the second consecutive year as reported by Forbes.com. The Audit Integrity Top 100 recognizes U.S. exchange-listed companies with market capitalizations of at least $200 million that display the highest corporate integrity, clear financial reporting, and transparent corporate governance as measured by Audit Integrity’s Accounting and Governance Risk ratings.
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Marten offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.
CONTACTS: Randy Marten, Chairman and Chief Executive Officer, and Jim Hinnendael, Chief Financial Officer, of Marten Transport, Ltd., 715-926-4216.
RELEASE DATE: May 7, 2008
MARTEN TRANSPORT, LTD. ANNOUNCES APPOINTMENT OF NEW PRESIDENT
MONDOVI, Wis. –Marten Transport, Ltd. (Nasdaq/GS:MRTN) announced today that its board appointed Timothy M. Kohl to serve as its President, effective June 2, 2008. Randolph L. Marten will remain Chairman and Chief Executive Officer. Mr. Kohl, who joined the Company in November 2007, has over 20 years’ experience in the transportation services industry. Mr. Kohl was previously employed by Knight Transportation, Inc. as its President from January 2004 to October 2007 and as its Secretary from October 2000 to October 2007. Mr. Kohl previously served as a director on Knight’s Board of Directors, as its Chief Financial Officer, as its Vice President of Human Resources, and as Vice President of Knight’s southeast region. Prior to his employment with Knight, Mr. Kohl was employed by Burlington Motor Carriers as Vice President of Human Resources. Prior to his employment with Burlington Motor Carriers, Mr. Kohl served as Vice President of Human Resources for J.B. Hunt.
Chairman, President and Chief Executive Officer Randolph L. Marten said, “We are pleased to announce that our board has appointed Mr. Kohl because he is a strong addition to our leadership team. His experience in the transportation services industry will be invaluable as we focus on growing and improving our business.”
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting food and other consumer packaged goods that require a temperature-sensitive or insulated environment. Marten offers nationwide service, concentrating on expedited movements for high-volume customers. Marten's common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.
RELEASE DATE: December 21, 2007
MARTEN TRANSPORT, LTD. ANNOUNCES COMMITTEE ASSIGNMENTS OF TWO NEW DIRECTORS
MONDOVI, Wis. –Marten Transport, Ltd. (Nasdaq/GS:MRTN) announced today that Robert L. Demorest and G. Larry Owens, its most recently elected members of the company's board of directors, have been appointed to various committees of the board.
Mr. Demorest and Mr. Owens will replace Jerry M. Bauer and Larry B. Hagness as members of the Audit Committee. Thomas J. Winkel will remain on the Audit Committee as Chairman.
Mr. Owens also will be joining the Compensation Committee, which currently consists of Messrs. Bauer, Hagness, and Winkel, who serves as Chairman of the Compensation Committee. No current committee members will retire from such committee.
Mr. Demorest will also be joining the Nominating/Corporate Governance Committee, which currently consists of Messrs. Bauer, Winkel, and Hagness, who serves as Chairman of the Nominating/Corporate Governance Committee. No current members will retire from such committee.
Chairman, President and Chief Executive Officer Randolph L. Marten said, “Our new board members will provide valuable insight to the committees to which they have been assigned. As independent members of the board, Bob and Larry's addition to the Audit Committee reinforces Marten's commitment to strong corporate governance policies. Both Bob and Larry have extensive experience in the auditing and reporting practices required by public companies.
“Our Compensation Committee also will benefit from the additional expertise that Larry will bring to that committee. Our Compensation Committee is primarily responsible for establishing the compensation philosophy and policy for our executive officers. Larry's very recent experience as the Chief Executive Officer of another publicly traded truckload carrier will help Marten in attracting and retaining the best talent in the industry.
“Our Nominating/Corporate Governance Committee is primarily responsible for considering and recruiting candidates to our board of directors and advising and evaluating the board on corporate governance standards. As a new director with leadership experience in other industries, we expect that Bob will bring a fresh perspective to the board's annual self-evaluation and provide new ideas to the board relating to the continuing education of its directors.
“I look forward to continuing to serve with Bob and Larry and am certain that their skills and experience will complement our already-strong board and committee members.”
Mr. Demorest has served as the President, Chief Executive Officer and Chairman of the Board of MOCON, Inc., a publicly traded company that provides consulting services and designs, manufactures, markets, and services measurement and analytical instruments primarily for food, beverage, and pharmaceutical companies world-wide, since April 2000. Prior to that time, Mr. Demorest had been President of MOCON Inc. for more than five years.
Mr. Owens has served as the Chief Executive Officer, President and Secretary of Smithway Motor Xpress Corp., a formerly publicly traded truckload carrier that provides nationwide transportation of diversified freight, concentrating primarily on the flatbed segment of the truckload market, since March 5, 2004, and has served as the Chairman of the Board of Smithway since April 2, 2004. Mr. Owens had served prior to that time as the Executive Vice President and Chief Financial Officer of Smithway from January 1993 and Chief Administrative Officer from August 2001. Mr. Owens also served as the Chief Operating Officer of Smithway from May 1998 to August 2001. Prior to joining Smithway, Mr. Owens spent twenty-five years in the banking industry, most recently from 1982 through 1992 as President of Boatmen’s Bancshares’ regional banks in Spencer and Fort Dodge, Iowa.
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting food and other consumer packaged goods that require a temperature-sensitive or insulated environment. Marten offers nationwide service, concentrating on expedited movements for high-volume customers. Marten's common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.
RELEASE DATE: December 4, 2007
MARTEN TRANSPORT, LTD. ANNOUNCES ONE MILLION SHARE REPURCHASE PROGRAM FOR COMMON STOCK
MONDOVI, Wis. – Marten Transport, Ltd. (Nasdaq/GS:MRTN) announced today 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.
Chairman, President and Chief Executive Officer Randolph L. Marten said, “We are pleased to announce that our board has authorized a share repurchase program because it is a reflection of our board’s confidence in the company’s financial strength and our overall commitment to stockholders. We believe that our stock remains significantly undervalued in the market and we continue to have confidence in the long-term value of Marten Transport.”
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting food and other consumer packaged goods that require a temperature-sensitive or insulated environment. Marten offers nationwide service, concentrating on expedited movements for high-volume customers. Marten's common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.
RELEASE DATE: August 23, 2007
Marten Transport, Ltd. Announces The Election Of Two Independent Directors
MONDOVI, Wis.– Marten Transport, Ltd. (Nasdaq/GS:MRTN) announced that it elected Robert L. Demorest and G. Larry Owens as independent directors of the company's board of directors. Mr. Demorest's and Mr. Owens' initial terms will begin at the next scheduled meeting of the board of directors, which is expected to be in December of 2007.
Chairman, President and Chief Executive Officer Randolph L. Marten said, "I'm extremely pleased to announce the addition of these two individuals to the board of directors. Robert's and Larry's complementary skills and experiences will add to the quality and diversity of a board of which I am already proud to be the Chairman. Additionally, as independent board members, they will bring new insights and ideas to Marten. The addition of these two directors brings the total number of directors to seven, five of which are independent. This addition of independent directors demonstrates Marten's commitment to strong corporate governance policies.
"Robert has over thirty years of experience in the design, manufacture, and marketing of specialized scientific instrumentation. He has achieved success in his business endeavors by employing rigorous standards, which we expect he will also apply to his board service at Marten. Marten is a company that thrives on efficiency and focus and I believe Robert will complement and reinforce these existing strengths.
"Larry's understanding of the trucking industry, gained through hands-on experience in many important roles at a publicly traded trucking company, in combination with his broad financial experience gained as the president of a regional bank, will enable him to provide Marten with valuable and insightful counsel. I have known Larry for many years and have observed how effective he has been as a business leader. I look forward to Marten benefiting from his contributions."
Mr. Demorest has served as the President, Chief Executive Officer and Chairman of the Board of MOCON, Inc., a publicly traded company that provides consulting services and designs, manufactures, markets, and services measurement and analytical instruments primarily for food, beverage, and pharmaceutical companies world-wide, since April 2000. Prior to that time, Mr. Demorest had been President of MOCON Inc. for more than five years.
Mr. Owens has served as the Chief Executive Officer, President and Secretary of Smithway Motor Xpress Corp., a truckload carrier that provides nationwide transportation of diversified freight, concentrating primarily on the flatbed segment of the truckload market, since March 5, 2004, and has served as the Chairman of the Board of Smithway Motor Xpress Corp. since April 2, 2004. Mr. Owens had served prior to that time as the Executive Vice President and Chief Financial Officer of Smithway Motor Xpress Corp. from January 1993 and Chief Administrative Officer from August 2001. Mr. Owens also served as the Chief Operating Officer of Smithway Motor Xpress Corp. from May 1998 to August 2001. Prior to joining Smithway Motor Xpress Corp., Mr. Owens spent twenty-five years in the banking industry, most recently from 1982 through 1992 as President of Boatmen’s Bancshares’ regional banks in Spencer and Fort Dodge, Iowa.
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting food and other consumer packaged goods that require a temperature-sensitive or insulated environment. Marten offers nationwide service, concentrating on expedited movements for high-volume customers. Marten's common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.
RELEASE DATE: October 23, 2006
Marten Transport makes Forbes Top 200 small companies list again
MONDOVI, Wis.--(BUSINESS WIRE)--Marten Transport, Ltd. (Nasdaq:MRTN), a leader in the time- and temperature-sensitive transportation industry for more than half a century, announced today that it has been named to the Forbes Magazine list of the 200 Best Small Companies for a second consecutive year.
After breaking into the list at No. 179 in 2005, Marten improved its ranking among businesses Forbes.com describes as the “most robust, fundamentally disciplined public outfits,” to No. 141 this year.
“We’re extremely honored by this acknowledgment,” said Marten’s Chief Operating Officer Bob Smith. “It’s very gratifying to be named to the Forbes’ list for a second straight year. This type of recognition is a direct reflection of the hard-working, committed drivers, contractors, employees and management team that have helped make Marten a success.”
To qualify for the list, a company must have a share price of above $5 as of Sept. 29 on 3-month average volume of 10,000 shares, carry profit margins of greater than 5% with positive sales and profit growth, on average, over both the last five years and last twelve months.
Marten Transport, Ltd. was founded in 1946 as a small dairy transportation service. Today the company hauls freight across the United States and Canada for some of the most successful companies in the world. It specializes in transporting frozen food, beverages, pharmaceuticals and other consumer-packaged goods that require a temperature-sensitive or insulated environment.
The company operates more than 2,500 tractors and 3,700 trailers. It employs more than 2,600 people and operates four regional facilities (Forest Park, Ga., Ontario, Ca., Indianapolis, Ind., and Wilsonville, Ore.) in addition to its corporate headquarters in Mondovi, Wis.
RELEASE DATE: July 17, 2006
Marten Transport Receives Platinum Award from Great West
MONDOVI, Wis. – Marten Transport, Ltd. received the 2005 Great West Risk Management Platinum Award for Safety and Operational Excellence at its corporate office on Monday.
Marten has now received this notable distinction, two consecutive years. Peter Merrion, Great West Assistant Vice President, presented the prestigious honor to Chief Operating Officer Bob Smith, Director of Safety Dan Peterson and Director of Risk Management Steve Printz during a brief ceremony in which he congratulated the company on its success.
The Platinum Award is based on various criteria, including loss results, prompt and fair claim settlement practices, timely reporting of serious claims, innovative loss prevention programs and operational excellence.
RELEASE DATE: July 5, 2006
Marten Transport Named to NASDAQ Global Select Market
MONDOVI, Wis. – Marten Transport, Ltd. (Nasdaq: MRTN) announced today its inclusion in the new NASDAQ Global Select Market, effective July 3rd. The NASDAQ Global Select Market is for public companies that meet NASDAQ's highest listing standards, with measures including market value, liquidity, and earnings. Prior to the change, the Company had been listed on the NASDAQ National Market. Beginning July 3rd, NASDAQ-listed companies are classified under three listing tiers - NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market.
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting food and other consumer packaged goods that require a temperature-sensitive or insulated environment. Marten offers nationwide service, concentrating on expedited movements for high-volume customers.
RELEASE DATE: February, 28, 2006
Lt. Governor Hails Marten for Supporting Women in the Workplace
MONDOVI, Wis. -- Marten Transport, Ltd. was recognized Monday by Lieutenant Governor Barbara Lawton as a leading developer of practices to successfully recruit and retain women employees. Lawton, who is traveling the state as part of a “Raise the Grade Tour” promoting woman’s issues and diversity hiring practices among Wisconsin employers, highlighted Marten as one of the Eau Claire area’s best at supporting and enabling woman to succeed in the workplace. Lawton praised the company’s diligence and commitment as a model for the state.
“This is an important distinction for us and we’re very proud to be recognized,” said Marten’s Chief Operating Officer Bob Smith. “We believe in our people and we’re committed to providing the kinds of opportunities that meet their needs.”
The Raise the Grade Tour will make eight stops in cities across the state from February 13 to March 28. The goal of the tour is to showcase how forward-thinking personnel policies that support women and families are improving Wisconsin’s success and overall corporate performance. Marten Transport was highlighted because of its outstanding record of recruiting and retaining women employees. The company provides programs such as tuition reimbursement and flexible scheduling that address the specific concerns of many female workers.
“If Wisconsin is to compete in a 21st century economy, we must draw from more than fifty percent of the talent pool,” Lawton was quoted as saying. “The private and public sectors must partner to create a matrix of opportunity that will help us recruit and hold onto talented women.”
Marten Transport Ltd., which was recently named the “Best Place to Work in Western Wisconsin” by Chippewa Valley B2B Magazine, and one of the top 200 small businesses in the country by Forbes Magazine, was founded in 1946 as a small dairy transportation service. Today the company hauls freight across the United States and Canada for some of the most successful companies in the world. It specializes in transporting frozen food, beverages, pharmaceuticals and other consumer-packaged goods that require a temperature-sensitive or insulated environment.
Marten offers trucking, intermodal and logistics services, concentrating on expedited movements for high-volume customers throughout North America. Marten Transport operates more than 2,600 tractors and nearly 3,500 trailers. It employs more than 2,400 people and operates four regional facilities (Forest Park, Ga., Ontario, Ca., Indianapolis, Ind., and Wilsonville, Ore.) in addition to its corporate headquarters in Mondovi, Wis.
RELEASE DATE: December 5, 2005
Marten Announces Change of its Chief Financial Officer
MONDOVI, Wis. — Marten Transport, Ltd., (Nasdaq: MRTN) today announced the appointment of James J. Hinnendael as chief financial officer, effective Jan. 1, 2006. Hinnendael, Marten’s controller and a 14-year member of the company’s management team, will succeed Darrell D. Rubel, who will retire from the company on that date.
“Darrell Rubel has been CFO of Marten since 1986, the year we became a publicly held company,” said Randolph L. Marten, president, chief executive officer and chairman of the board. “The stability and professionalism of our finance operations during his tenure has been one of the strengths of the company, which in that time has grown into one of our nation’s leading temperature-sensitive truckload carriers. “I’m extremely pleased to be able to announce a successor who will give us strong continuity in this critical area of financial management. As controller, Jim Hinnendael has been extensively involved in our external reporting and our internal controls and processes. He brings to this position an exemplary combination of experience, professional skills and integrity.”
Hinnendael joined Marten as controller in January 1992. He previously was an auditor for Ernst & Young in its Milwaukee office from January 1987 through December 1991. Hinnendael holds a degree in accounting and finance from the University of Wisconsin and is a certified public accountant.
Rubel, who is completing his 20th year as Marten’s CFO, has also served as treasurer since June 1986, assistant secretary since August 1987 and executive vice president since May 1993. He also served as a director of the company from February 1983 to May 2004, vice president from January 1986 to May 1993 and secretary from June 1986 to August 1987.
Marten Transport, Ltd., with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting food and other consumer packaged goods that require a temperature-sensitive or insulated environment. Marten offers nationwide service, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq National Market under the symbol MRTN.
RELEASE DATE: December 1, 2005
Marten Announces "Three-for-Two" Stock Split
MONDOVI, Wis. -- Marten Transport, Ltd. (Nasdaq: MRTN) announced today that its Board of Directors has declared a three-for-two stock split of the company’s common stock. The stock split will be effected in the form of a stock dividend distributed December 23, 2005, to stockholders of record as of December 12, 2005.
Holders of the company’s common stock will receive an additional one-half share for each outstanding share of common stock held as of the record date. The stock split will increase the number of outstanding shares of common stock from approximately 14,382,268 to approximately 21,573,402.
RELEASE DATE: October 19, 2005
Marten makes Forbes 200 list of top small companies
MONDOVI, Wis. – Marten Transport Ltd. (NASDAQ:MRTN), a leader in the time and temperature sensitive transportation industry for more than half a century, announced today that it has been named to the Forbes Magazine “List of 200 Best Small Companies.”
The ranking (No. 179) marks the company’s first inclusion in the annual list, which Forbes.com describes as, “solid and consistent hitters that have performed well when measured over the last 12 months and the past five years, and are poised for another growth spurt.”
The list includes companies with annual revenues from $5 to $750 million, net profit margins greater than 5%, and share prices above $5 as of Sept. 29, 2005. The companies were ranked based on return on equity, sales and EPS growth over time.
“This is quite an honor for Marten Transport,” said company Chief Operating Officer Bob Smith. “We’re excited about being named to the Forbes’ list and view this recognition as a tribute to the hard working, committed drivers, contractors, employees and management team that have helped make us a success.”
Marten Transport Ltd., which was recently named the “Best Place to Work in Western Wisconsin” by Chippewa Valley B2B Magazine, was founded in 1946 as a small dairy transportation service. Today the company hauls freight across the United States and Canada for some of the most successful companies in the world. It specializes in transporting frozen food, beverages, pharmaceuticals and other consumer-packaged goods that require a temperature-sensitive or insulated environment.
Marten Transport operates more than 2,400 tractors and 3,300 trailers. It employs nearly 2,300 people and operates four regional facilities (Forest Park, Ga., Ontario, Ca., Indianapolis, Ind., and Wilsonville, Ore.) in addition to its corporate headquarters in Mondovi, Wis. For more information about the company visit www.marten.com
RELEASE DATE: June 24, 2005
Randy Marten Named an Ernst & Young 'Entrepreneur of the Year'
MONDOVI, Wis. -- Randy Marten, president and chairman of Marten Transport, Ltd. (Nasdaq:MRTN), has been honored as a 2005 Ernst & Young Entrepreneur of the Year for the Wisconsin region. Marten Transport was one of seven Wisconsin companies whose leaders were recognized in the annual awards program this month for demonstrating the "passion and perseverance to turn a bright idea into a brilliant business."
Randy Marten, who won in the Transportation category, heads a company that has grown into one of the North America's leading temperature-sensitive truckload carriers, sustaining an unbroken record of revenue growth and winning national honors for its safety record.
"I think everyone at Marten Transport is proud of what the company has accomplished," said Bob Smith, Marten's chief operating officer. "We're extremely excited that Randy has been honored with this award. I think his selection says a great deal not only about his outstanding leadership, but about the people at Marten and the pride they take in their jobs and this company."
Nominees for the award must be a company owner or manager, who is primarily responsible for the recent success or performance of the business. Award recipients are selected in a variety of industry-based categories in 31 regions by independent panels of judges. Winners are honored at regional award banquets during the month of June and inducted into the elite Entrepreneur of the Year@ Hall of Fame at the Entrepreneur of the Year Awards held each November in Palm Sprints, Calif.
This year's Wisconsin region banquet was held at Midwest Airlines Center in Milwaukee. ! The Ernst & Young Entrepreneur of the Year Program was created nearly two decades ago and is produced by professional services from Ernst & Young LLP. As the first award of its kind, the Ernst & Young Entrepreneur of the Year program honors entrepreneurs through regional, national and global award programs in over 100 cities and 35 countries.
RELEASE DATE: February 2, 2005
Marten Among Safest Fleets Again
MONDOVI, Wis. -- Marten Transport, Ltd. of Mondovi, WI won 2nd place in the 100+ million miles division of the Truckload Carriers Association's National Fleet Safety Awards Program. The carrier will be presented with the award at ceremonies held March 6-9, 2005, at the TCA annual meeting at the Bellagio Resort, Las Vegas.
Marten Transport, Ltd. employs over 2000 drivers providing refrigerated service throughout the nation. Marten Transport, Ltd. has placed in the TCA National Fleet Safety Awards Program seven times in the past ten years. The Truckload Carriers Association and the truckload industry are dedicated to improving the safety of all fleets and our nation's highways.
The National Fleet Safety Awards judging process began with the determination of the top companies in each of six mileage divisions. The top three division winners were selected based on accident frequency only. From the division winners two grand prizewinners will be selected, one in the under 25 million mile category and one in the over 25 million mile category.
To win the grand prize, companies will be judged on their overall safety programs, both on and off-highway including employee driver/independent contractor selection procedures, training, supervision, accident investigation, inspection and maintenance of equipment, and outside activities including general highway safety.
The 2 grand prize winning companies will be announced on March 8, 2005 at the TCA annual meeting at the Bellagio Resort, Las Vegas. TCA is the only national trade association whose collective sole focus is the truckload segment of the motor carrier industry.
The association represents dry van, refrigerated, flatbed, and intermodal container carriers operating in the 48 contiguous states as well as Alaska, Mexico, and Canada. Representing operators of over 200,000 trucks, which collectively produce annual revenue of over $20 billion, TCA is an organization tailored to specific truckload carrier needs.