Covenant’s losses widen
Higher fuel and wage costs and adverse winter weather widened first-quarter losses from a year ago for Covenant Transportation Group Inc.
The Chattanooga-based trucking company said Tuesday it lost $2.5 million, or 17 cents per share, compared with a net loss of $2.2 million, or 15 cents per share, a year ago.
Freight revenue was down 3.8 percent. But fuel prices in the first quarter of 2011 were up 27 percent over a year ago, the company said.
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