Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Sep. 30, 2013 | Nov. 08, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'CELADON GROUP INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Common Stock, Shares Outstanding | ' | 23,843,953 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000865941 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
REVENUE: | ' | ' |
Freight revenue | $141,956 | $122,108 |
Fuel surcharge revenue | 33,146 | 31,189 |
Total revenue | 175,102 | 153,297 |
OPERATING EXPENSES: | ' | ' |
Salaries, wages, and employee benefits | 46,654 | 40,401 |
Fuel | 36,843 | 37,452 |
Purchased transportation | 41,744 | 28,337 |
Revenue equipment rentals | 1,652 | 1,998 |
Operations and maintenance | 11,274 | 8,066 |
Insurance and claims | 4,140 | 3,501 |
Depreciation and amortization | 14,928 | 12,675 |
Communications and utilities | 1,364 | 1,292 |
Operating taxes and licenses | 2,832 | 2,588 |
General and other operating | 2,139 | 1,848 |
Total operating expenses | 163,570 | 138,158 |
Operating Income | 11,532 | 15,139 |
Interest expense | 1,224 | 1,490 |
Other (income) expense | -241 | 38 |
Income before income taxes | 10,549 | 13,611 |
Income tax expense | 3,983 | 5,349 |
Net income | $6,566 | $8,262 |
Income per common share: | ' | ' |
Diluted (in Dollars per share) | $0.28 | $0.36 |
Basic (in Dollars per share) | $0.29 | $0.37 |
Diluted weighted average shares outstanding (in Shares) | 23,662 | 23,185 |
Basic weighted average shares outstanding (in Shares) | 22,930 | 22,383 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $6,566 | $8,262 |
Unrealized gain (loss) on fuel derivative instruments, net of tax | 2 | 587 |
Unrealized gain (loss) on currency derivative instruments, net of tax | 165 | 124 |
Foreign currency translation adjustments, net of tax | 447 | 1,509 |
Total other comprehensive income (loss) | 614 | 2,220 |
Comprehensive income | $7,180 | $10,482 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $3,610 | $1,315 |
Trade receivables, net of allowance for doubtful accounts of $869 and $919 at September 30, 2013 and June 30, 2013, respectively | 81,518 | 77,623 |
Prepaid expenses and other current assets | 33,058 | 13,434 |
Tires in service | 1,015 | 1,245 |
Equipment held for resale | 7,746 | 9,923 |
Income tax receivable | 3,056 | 9,506 |
Deferred income taxes | 4,236 | 4,342 |
Total current assets | 134,239 | 117,388 |
Property and equipment | 621,155 | 612,236 |
Less accumulated depreciation and amortization | 119,542 | 115,366 |
Net property and equipment | 501,613 | 496,870 |
Tires in service | 1,527 | 1,785 |
Goodwill | 20,415 | 17,730 |
Investment in unconsolidated companies | 4,346 | 4,604 |
Other assets | 3,201 | 2,785 |
Total assets | 665,341 | 641,162 |
Current liabilities: | ' | ' |
Accounts payable | 5,785 | 10,401 |
Accrued salaries and benefits | 10,416 | 11,197 |
Accrued insurance and claims | 10,262 | 10,092 |
Accrued fuel expense | 8,414 | 7,461 |
Other accrued expenses | 21,988 | 20,070 |
Current maturities of capital lease obligations | 30,631 | 25,669 |
Total current liabilities | 87,496 | 84,890 |
Capital lease obligations, net of current maturities | 179,186 | 190,625 |
Long term debt | 104,591 | 78,137 |
Deferred income taxes | 59,808 | 61,821 |
Stockholders' equity: | ' | ' |
Common stock, $0.033 par value, authorized 40,000 shares; issued and outstanding 23,882 and 23,887 shares at September 30, 2013 and June 30, 2013, respectively | 788 | 788 |
Treasury stock at cost; 595 and 696 shares at September 30, 2013 and June 30, 2013, respectively | -4,104 | -4,811 |
Additional paid-in capital | 104,890 | 103,749 |
Retained earnings | 137,333 | 131,224 |
Accumulated other comprehensive loss | -4,647 | -5,261 |
Total stockholders' equity | 234,260 | 225,689 |
Total liabilities and stockholders' equity | $665,341 | $641,162 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parentheticals) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Trade receivables, allowance for doubtful accounts (in Dollars) | $869 | $919 |
Common stock, par value (in Dollars per share) | $0.03 | $0.03 |
Common stock, shares authorized | 40,000 | 40,000 |
Common stock, shares issued | 23,882 | 23,887 |
Common stock, shares outstanding | 23,882 | 23,887 |
Treasury stock at cost; shares | 595 | 696 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $6,566 | $8,262 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 16,083 | 14,642 |
Gain on sale of equipment | -1,157 | -1,911 |
Stock based compensation | 545 | 537 |
Deferred income taxes | -2,395 | 2,341 |
Provision for doubtful accounts | ' | 3 |
Changes in assets and liabilities: | ' | ' |
Trade receivables | 295 | -590 |
Income taxes | 5,690 | -127 |
Tires in service | 490 | -174 |
Prepaid expenses and other current assets | -5,411 | -4,989 |
Other assets | -261 | 927 |
Accounts payable and accrued expenses | -4,561 | 935 |
Net cash provided by operating activities | 15,884 | 19,856 |
Cash flows from investing activities: | ' | ' |
Purchase of property and equipment | -19,758 | -63,084 |
Proceeds on sale of property and equipment | 8,833 | 28,504 |
Purchase of businesses | -9,284 | -24,094 |
Net cash used in investing activities | -20,209 | -58,674 |
Cash flows from financing activities: | ' | ' |
Proceeds from borrowings on long-term debt | 81,510 | 107,480 |
Payments on bank borrowing on long-term debt | -69,882 | -78,890 |
Principal payments under capital lease obligations | -6,476 | -20,007 |
Dividends paid | -457 | -448 |
Proceeds from issuance of common stock | 1,304 | 39 |
Net cash provided by financing activities | 5,999 | 8,174 |
Effect of exchange rates on cash and cash equivalents | 621 | 351 |
Increase (Decrease) in cash and cash equivalents | 2,295 | -30,293 |
Cash and cash equivalents at beginning of period | 1,315 | 33,646 |
Cash and cash equivalents at end of period | 3,610 | 3,353 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid | 1,224 | 1,490 |
Income taxes paid | 94 | 3,035 |
Lease obligation incurred in the purchase of equipment | ' | $24,280 |
Note_1_Basis_of_Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
1. Basis of Presentation | |
References in this Report on Form 10-Q to "we," "us," "our," "Celadon," the "Company," or similar terms refer to Celadon Group, Inc. and its consolidated subsidiaries. All inter-company balances and transactions have been eliminated in consolidation. | |
The accompanying condensed consolidated unaudited financial statements of Celadon Group, Inc. and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America and Regulation S-X, instructions to Form 10-Q, and other relevant rules and regulations of the Securities and Exchange Commission (the "SEC"), as applicable to the preparation and presentation of interim financial information. Certain information and footnote disclosures have been omitted or condensed pursuant to such rules and regulations. We believe all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Results of operations in interim periods are not necessarily indicative of results for a full year. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended June 30, 2013. | |
The preparation of the financial statements in conformity with United States generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. |
Note_2_Earnings_Per_Share
Note 2 - Earnings Per Share | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings Per Share [Text Block] | ' | ||||||||
2. Earnings Per Share (in thousands, except per share data) | |||||||||
A reconciliation of the basic and diluted earnings per share is as follows: | |||||||||
Three months ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Weighted average common shares outstanding – basic | 22,930 | 22,383 | |||||||
Dilutive effect of stock options and unvested restricted stock units | 732 | 802 | |||||||
Weighted average common shares outstanding – diluted | 23,662 | 23,185 | |||||||
Net income | $ | 6,566 | $ | 8,262 | |||||
Earnings per common share | |||||||||
Basic | $ | 0.29 | $ | 0.37 | |||||
Diluted | $ | 0.28 | $ | 0.36 | |||||
Certain shares of common stock were excluded from the computation of diluted earnings per share because the options exercise prices were greater than the average market price of the common shares, and therefore, the effect would be anti-dilutive. A summary of those options follows: | |||||||||
Three months ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Number of anti-dilutive shares | --- | 90 | |||||||
Note_3_Stock_Based_Compensatio
Note 3 - Stock Based Compensation | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||
3. Stock Based Compensation | |||||||||
The following table summarizes the components of our stock based compensation program expense (in thousands): | |||||||||
For three months ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Stock compensation expense for options, net of forfeitures | $ | 74 | $ | 106 | |||||
Stock compensation expense for restricted stock, net of forfeitures | 471 | 475 | |||||||
Stock compensation income for stock appreciation rights, including forfeitures | --- | (44 | ) | ||||||
Total stock compensation expense (income) | $ | 545 | $ | 537 | |||||
As of September 30, 2013, we have approximately $0.2 million of unrecognized compensation cost related to unvested options granted under the Company's 2006 Omnibus Incentive Plan, as amended (the "2006 Plan"). This cost is expected to be recognized over a weighted-average period of 0.6 year and a total period of 1.5 years. | |||||||||
A summary of the award activity of the Company's stock option plans as of September 30, 2012, and changes during the three-month period then ended is presented below: | |||||||||
Options | Option Totals | Weighted-Average | |||||||
Exercise | |||||||||
Price per Share | |||||||||
Outstanding at July 1, 2013 | 1,148,790 | $ | 10.76 | ||||||
Granted | --- | --- | |||||||
Exercised | 100,037 | $ | 12.81 | ||||||
Forfeited or expired | 1,750 | $ | 12.79 | ||||||
Outstanding at September 30, 2013 | 1,047,003 | $ | 9.62 | ||||||
Exercisable at September 30, 2013 | 989,003 | $ | 9.73 | ||||||
As of September 30, 2013, we also have approximately $4.0 million of unrecognized compensation expense related to restricted stock awards, which is anticipated to be recognized over a weighted-average period of 2.4 years and a total period of 3.3 years. A summary of the restricted stock award activity under the 2006 Plan as of September 30, 2013, and changes during the three-month period then ended is presented below: | |||||||||
Number of Restricted | Weighted-Average | ||||||||
Stock Awards | Grant Date Fair Value | ||||||||
Unvested at July 1, 2013 | 355,963 | $ | 15.75 | ||||||
Granted | --- | --- | |||||||
Vested and Issued | --- | --- | |||||||
Forfeited | 4,525 | $ | 12.4 | ||||||
Outstanding at September 30, 2013 | 351,438 | $ | 15.79 | ||||||
The fair value of each restricted stock award is based on the closing market price on the date of grant. | |||||||||
The Company had no outstanding stock appreciation rights as of September 30, 2013 and 143,156 outstanding stock appreciation rights as of September 30, 2012. These stock appreciation rights were granted at a fair value market price of $8.64 based on the closing market price on the date of the grant. All stock rights vested and were paid out in the December 2012 quarter. |
Note_4_Segment_Information
Note 4 - Segment Information | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||
4. Segment Information (in thousands) | |||||||||
We have two reportable segments comprised of an asset-based segment and an asset-light-based segment. Our asset-based segment includes our asset-based dry van carrier and rail services, which are geographically diversified but have similar economic and other relevant characteristics, as they all provide truckload carrier services of general commodities to a similar class of customers. Our asset-light-based segment consists of our warehousing, brokerage, and less-than-truckload ("LTL") operations, which we have determined qualifies as a reportable segment under ASC 280-10, Segment Reporting. | |||||||||
Operating Revenues | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Asset-Based | $ | 162,621 | $ | 142,435 | |||||
Asset-light-Based | 12,481 | 10,862 | |||||||
Total | $ | 175,102 | $ | 153,297 | |||||
Operating Income | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Asset-Based | $ | 10,376 | $ | 14,309 | |||||
Asset-light-Based | 1,155 | 830 | |||||||
Total | $ | 11,532 | $ | 15,139 | |||||
Information as to the Company's operating revenue by geographic area is summarized below. The Company allocates operating revenue based on the country of origin of the tractor hauling the freight: | |||||||||
Operating Revenue | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
United States | $ | 146,205 | $ | 134,131 | |||||
Canada | 21,087 | 10,903 | |||||||
Mexico | 7,810 | 8,263 | |||||||
Consolidated | $ | 175,102 | $ | 153,297 | |||||
Note_5_Income_Taxes
Note 5 - Income Taxes | 3 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
5. Income Taxes | |
Our effective income tax rate was 37.8% for the three-month period ended September 30, 2013, compared with 39.3% for the three-month period ended September 30, 2012. In determining our quarterly provision for income taxes, we use an estimated annual effective tax rate, which is based on our expected annual income, statutory tax rates, nontaxable and nondeductible items of income and expense, and the ultimate outcome of tax audits. Income tax expense varies from the amount computed by applying the statutory federal tax rate to income before income taxes primarily due to state income taxes, net of federal income tax effect, adjusted for permanent differences, the most significant of which is the effect of the per diem pay structure for drivers. Drivers may elect to receive non-taxable per diem pay in lieu of a portion of their taxable wages. This per diem program increases our drivers’ net pay per mile, after taxes, while decreasing gross pay, before taxes. As a result, salaries, wages and employee benefits are slightly lower, and our effective income tax rate is higher than the statutory rate. Generally, as pre-tax income increases, the impact of the driver per diem program on our effective tax rate decreases because aggregate per diem pay becomes smaller in relation to pre-tax income. Due to the partially nondeductible effect of per diem pay, our tax rate will fluctuate in future periods based on fluctuations in earnings and in the number of drivers who elect to receive this pay structure. | |
The Company follows ASC Topic 740-10-25 in accounting for uncertainty in income taxes ("Topic 740"). Topic 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. We account for any uncertainty in income taxes by determining whether it is more likely than not that a tax position taken or expected to be taken in a tax return will be sustained upon examination by the appropriate taxing authority based on the technical merits of the position. In that regard, we have analyzed filing positions in our federal and applicable state tax returns as well as in all open tax years. The only periods subject to examination for our federal returns are the 2009 through 2011 tax years. We believe that our income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to our consolidated financial position, results of operations and cash flows. As of September 30, 2013, the Company recorded a $0.5 million liability for unrecognized tax benefits, a portion of which represents penalties and interest. |
Note_6_Commitments_and_Conting
Note 6 - Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
6. Commitments and Contingencies | |
The Company has outstanding commitments to purchase approximately $18.6 million of revenue equipment at September 30, 2013. | |
Standby letters of credit, not reflected in the accompanying consolidated financial statements, aggregated approximately $0.8 million at September 30, 2013. |
Note_7_Lease_Obligations_and_L
Note 7 - Lease Obligations and Long-Term Debt | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Leases [Abstract] | ' | ||||||||
Leases of Lessee Disclosure [Text Block] | ' | ||||||||
7. Lease Obligations and Long-Term Debt | |||||||||
The Company leases certain revenue and service equipment under long-term lease agreements, payable in monthly installments. | |||||||||
Equipment obtained under a capital lease is reflected on the Company's balance sheet as owned and the related leases mature at various dates through 2020. | |||||||||
Assets held under operating leases are not recorded on the Company's balance sheet. The Company leases revenue and service equipment under non-cancellable operating leases expiring at various dates through April 2019. | |||||||||
Long-Term Debt | |||||||||
The Company had outstanding borrowings, excluding capital leases, of $104.6 million at September 30, 2013 compared with $28.6 million at September 30, 2012 and $78.1 million at June 30, 2013. | |||||||||
Future minimum lease payments relating to capital leases and operating leases as of September 30, 2013 (in thousands): | |||||||||
Capital | Operating | ||||||||
Leases | Leases | ||||||||
2014 | $ | 34,130 | $ | 4,941 | |||||
2015 | 74,343 | 20,301 | |||||||
2016 | 12,877 | 2,555 | |||||||
2017 | 12,860 | 2,540 | |||||||
2018 | 27,691 | 2,540 | |||||||
Thereafter | 59,919 | 14,360 | |||||||
Total minimum lease payments | 221,820 | $ | 47,237 | ||||||
Less amounts representing interest | 12,003 | ||||||||
Present value of minimum lease payments | 209,817 | ||||||||
Less current maturities | 30,631 | ||||||||
Non-current portion | $ | 179,186 | |||||||
Note_8_Fair_Value_Measurements
Note 8 - Fair Value Measurements | 3 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||||||||||||||
8. Fair Value Measurements | |||||||||||||||||||||||||||||||||
ASC 820-10 Fair Value Measurements and Disclosure for non-recurring fair value measurements of non-financial assets and liabilities. This standard defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. This standard establishes a three-level hierarchy for fair value measurements based upon the significant inputs used to determine fair value. Observable inputs are those which are obtained from marked participants external to the Company, while unobservable inputs are generally developed internally, utilizing management’s estimates assumptions, and specific knowledge of the nature of the assets or liabilities and related markets. The three levels are defined as follows: | |||||||||||||||||||||||||||||||||
Level 1 – Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. | |||||||||||||||||||||||||||||||||
Level 2 – Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs). | |||||||||||||||||||||||||||||||||
Level 3 – Unobservable inputs, only used to the extent that observable inputs are not available, reflect the Company's assumptions about the pricing of an asset or liability. | |||||||||||||||||||||||||||||||||
In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company's financial assets and liabilities (in thousands) that are required to be measured at fair value as of September 30, 2013, and June 30, 2013. | |||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
Balance | Balance | Balance | Balance | Balance | Balance | Balance | Balance | ||||||||||||||||||||||||||
at | at | at | at | at | at | at | at | ||||||||||||||||||||||||||
September | June | September | June | September | June | September | June | ||||||||||||||||||||||||||
30, | 30, | 30, | 30, | 30, | 30, | 30, | 30, | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||
Foreign currency derivatives | $ | 95 | $ | (70 | ) | $ | --- | $ | --- | $ | 95 | $ | (70 | ) | $ | --- | $ | --- | |||||||||||||||
Fuel derivatives | 47 | 45 | --- | --- | 47 | 45 | --- | --- | |||||||||||||||||||||||||
Our other financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, long-term debt, and capital lease obligations. At September 30, 2013 the fair value of these instruments were approximated by their carrying values. |
Note_9_Dividend
Note 9 - Dividend | 3 Months Ended |
Sep. 30, 2013 | |
Dividend [Abstract] | ' |
Dividend [Text Block] | ' |
9. Dividend | |
On July 28, 2013, the Company declared a cash dividend of $0.02 per share of common stock. The dividend was payable to shareholders of record on October 4, 2013, and was paid on October 18, 2013. Future payment of cash dividends, and the amount of any such dividends, will depend on our financial condition, results of operations, cash requirements, tax treatment, and certain corporate law requirements, as well as other factors deemed relevant by our Board of Directors. |
Note_10_Fuel_Derivatives
Note 10 - Fuel Derivatives | 3 Months Ended |
Sep. 30, 2013 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' |
10. Fuel Derivatives | |
In the Company’s day to day business activities we are exposed to certain market risks, including the effects of changes in fuel prices. The Company continually reviews new ways to reduce the potentially adverse effects that the volatility of fuel markets may have on operating results. In an effort to reduce the variability of the ultimate cash flows associated with fluctuations in diesel fuel prices, the Company has begun to enter into futures contracts. These instruments will be heating oil futures contracts as the related index, New York Mercantile Exchange ("NYMEX"), generally exhibits high correlation with the changes in the dollars of the forecasted purchase of diesel fuel. The Company does not engage in speculative transactions, nor does it hold or issue financial instruments for trading purposes. | |
We have entered into futures contracts, which pertain to 378,000 total gallons, 126,000 gallons per month for October 2013 through December 2013, approximately 4.0% of our monthly projected fuel requirements. Under these contracts, we pay a fixed rate per gallon of heating oil and receive the monthly average price of New York heating oil per the NYMEX. The Company has done retrospective and prospective regression analyses that showed the changes in the prices of diesel fuel and heating oil were deemed to be highly effective based on the relevant authoritative guidance. Accordingly, we have designated the respective hedges as cash flow hedges. | |
We perform both a prospective and retrospective assessment of the effectiveness of our hedge contracts at inception and quarterly. If our analysis shows that the derivatives are not highly effective as hedges, we will discontinue hedge accounting for the period and prospectively recognize changes in the fair value of the derivative being recognized through earnings. As a result of our effectiveness assessment at inception and at September 30, 2013, we believe our hedge contracts have been and will continue to be highly effective in offsetting changes in cash flows attributable to the hedged risk. | |
We recognize all derivative instruments at fair value on our condensed consolidated balance sheets in other assets or other accrued expenses. The Company's derivative instruments are designated as cash flow hedges, thus the effective portion of the gain or loss on the derivative is reported as a component of accumulated other comprehensive income and will be reclassified into earnings in the same period during which the hedged transactions affect earnings. The effective portion of the derivative represents the change in fair value of the hedge that offsets the change in fair value of the hedged item. To the extent the change in the fair value of the hedge does not perfectly offset the change in the fair value of the hedged item, the ineffective portion of the hedge is immediately recognized in other income or expense on our consolidated condensed statements of income. The ineffective portion of the hedge for the quarter was immaterial and therefore not recognized through earnings. | |
Based on the amounts in accumulated other comprehensive income as of September 30, 2013, and the expected timing of the purchases of the diesel hedged, we expect to reclassify $0.1 million of gain on derivative instruments from accumulated other comprehensive income to the statement of income, as an offset to fuel expense, due to the actual diesel fuel purchases. The amounts actually realized will depend on the fair values as of the date of settlement. | |
Outstanding financial derivative instruments expose us to credit loss in the event of nonperformance by the companies with which we have these agreements. Our credit exposure related to these financial instruments is represented by the fair value of contracts reported as assets. To evaluate credit risk, we review each counterparty's audited financial statements and credit ratings and obtain references. Any credit valuation adjustments deemed necessary would be reflected in the fair value of the instrument. As of September 30, 2013, we have not made any adjustments. |
Note_11_Acquisitions_and_Asset
Note 11 - Acquisitions and Assets Held for Sale | 3 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block Supplement [Abstract] | ' |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | ' |
11. Acquisitions and Equipment Held for Resale | |
On August 26, 2013, we acquired certain assets and assumed certain liabilities of Houg, LLC (“Houg”) in Denver, CO. We acquired trade receivables of $2.3 million, property and equipment of $2.7 million, intangible assets of $1.0 million, other assets of $0.3 million offset by $4.4 million in debt and $1.9 million of various liabilities. The property and equipment includes tractors and trailers that we intend to operate in the short term. We used borrowings under our existing line of credit to fund the purchase price. The purposes of the acquisition were to offer employment opportunities to Houg drivers and continue dry-van and temperature controlled services for the Houg customers. | |
On August 26, 2013, we acquired certain assets and assumed certain liabilities of Land Span Motor Equipment, Inc. (“Land Span”) in Lakeland, FL for $5.4 million. We acquired property and equipment of $11.4 million, other assets of $0.1 million offset by $6.1 million in debt. The property and equipment includes tractors and trailers that we intend to operate in the short term. We used borrowings under our existing line of credit to fund the purchase price. The purposes of the acquisition were to offer employment opportunities to Land Span drivers and continue dry-van services for the Land Span customers. | |
On September 13, 2013, we acquired the stock of TCI Logistics, Inc. (“TCI”) in Kernersville, NC for $2.9 million. TCI had trade receivables of $1.8 million, property and equipment of $4.0 million, intangible assets of $1.6 million, cash and other assets of $0.6 million offset by debt of $4.0 million and $1.1 million of various liabilities. The property and equipment owned by TCI includes tractors and trailers that we intend to continue to utilize. We used borrowings under our existing line of credit to fund the purchase price. The purposes of the acquisition were to continue employment of TCI drivers and continue dry-van services for the TCI customers. | |
On September 16, 2013, we acquired certain assets and assumed certain liabilities of Hoss Cartage & Distribution Systems, Inc. (“Hoss”) in Ayr, Ontario, Canada for $1.0 million. We acquired property and equipment of $1.2 million, offset by $0.2 million in debt. The property and equipment includes tractors and trailers that we intend to operate in the short term. We used borrowings under our existing line of credit to fund the purchase price. The purposes of the acquisition were to offer employment opportunities to Hoss drivers and continue dry-van services for the Hoss customers. |
Note_12_Recent_Accounting_Pron
Note 12 - Recent Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' |
12. Recent Accounting Pronouncements | |
In February 2013, the FASB issued ASU No. 2013-02, "Comprehensive Income (ASC Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income" ("ASU 2013-02"), which amends current comprehensive income guidance. The Company will be required to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required that provide additional detail about those amounts. The amendment is effective prospectively for public entities in fiscal years, and interim periods within those years, beginning after December 15, 2012. The amendments do not change the existing requirements for reporting net income or other comprehensive income in financial statements and the adoption of this guidance has not had a material impact on our consolidated financial statements. |
Note_13_Goodwill_and_Other_Int
Note 13 - Goodwill and Other Intangible Assets | 3 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||||||
13. Goodwill and Other Intangible Assets | |||||||||||||
The acquired intangible assets relate to customer relations acquired through acquisition in fiscal 2013. There have been no additions to intangible assets in fiscal 2014. The Company did not have any amortizable intangible assets prior to fiscal 2013. | |||||||||||||
30-Sep-13 | |||||||||||||
Gross carrying amount | Amortization period (years) | Accumulated amortization | |||||||||||
Amortizing intangible assets: Customer list | $ | 650 | 4 | $ | 116 | ||||||||
The additions to goodwill relate to the Houg and TCI acquisitions of $1.1 million and $1.6 million respectively. The Houg related goodwill is tax deductible. | |||||||||||||
Goodwill | |||||||||||||
30-Jun-13 | Current year additions | 30-Sep-13 | |||||||||||
Asset based | $ | 16,362 | $ | 2,685 | $ | 19,047 | |||||||
Asset light | $ | 1,368 | --- | $ | 1,368 | ||||||||
Total Goodwill | $ | 17,730 | $ | 2,685 | $ | 20,415 | |||||||
Note_14_Reclassifications_and_
Note 14 - Reclassifications and Adjustments | 3 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Reclassifications [Text Block] | ' |
14. Reclassifications and Adjustments | |
Certain items in the prior year's consolidated financial statements have been reclassified to conform to the current presentation. |
Note_2_Earnings_Per_Share_Tabl
Note 2 - Earnings Per Share (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||
Three months ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Weighted average common shares outstanding – basic | 22,930 | 22,383 | |||||||
Dilutive effect of stock options and unvested restricted stock units | 732 | 802 | |||||||
Weighted average common shares outstanding – diluted | 23,662 | 23,185 | |||||||
Net income | $ | 6,566 | $ | 8,262 | |||||
Earnings per common share | |||||||||
Basic | $ | 0.29 | $ | 0.37 | |||||
Diluted | $ | 0.28 | $ | 0.36 | |||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | ||||||||
Three months ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Number of anti-dilutive shares | --- | 90 |
Note_3_Stock_Based_Compensatio1
Note 3 - Stock Based Compensation (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | ||||||||
For three months ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Stock compensation expense for options, net of forfeitures | $ | 74 | $ | 106 | |||||
Stock compensation expense for restricted stock, net of forfeitures | 471 | 475 | |||||||
Stock compensation income for stock appreciation rights, including forfeitures | --- | (44 | ) | ||||||
Total stock compensation expense (income) | $ | 545 | $ | 537 | |||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||
Options | Option Totals | Weighted-Average | |||||||
Exercise | |||||||||
Price per Share | |||||||||
Outstanding at July 1, 2013 | 1,148,790 | $ | 10.76 | ||||||
Granted | --- | --- | |||||||
Exercised | 100,037 | $ | 12.81 | ||||||
Forfeited or expired | 1,750 | $ | 12.79 | ||||||
Outstanding at September 30, 2013 | 1,047,003 | $ | 9.62 | ||||||
Exercisable at September 30, 2013 | 989,003 | $ | 9.73 | ||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||
Number of Restricted | Weighted-Average | ||||||||
Stock Awards | Grant Date Fair Value | ||||||||
Unvested at July 1, 2013 | 355,963 | $ | 15.75 | ||||||
Granted | --- | --- | |||||||
Vested and Issued | --- | --- | |||||||
Forfeited | 4,525 | $ | 12.4 | ||||||
Outstanding at September 30, 2013 | 351,438 | $ | 15.79 |
Note_4_Segment_Information_Tab
Note 4 - Segment Information (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||
Operating Revenues | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Asset-Based | $ | 162,621 | $ | 142,435 | |||||
Asset-light-Based | 12,481 | 10,862 | |||||||
Total | $ | 175,102 | $ | 153,297 | |||||
Operating Income | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Asset-Based | $ | 10,376 | $ | 14,309 | |||||
Asset-light-Based | 1,155 | 830 | |||||||
Total | $ | 11,532 | $ | 15,139 | |||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | ' | ||||||||
Operating Revenue | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
United States | $ | 146,205 | $ | 134,131 | |||||
Canada | 21,087 | 10,903 | |||||||
Mexico | 7,810 | 8,263 | |||||||
Consolidated | $ | 175,102 | $ | 153,297 |
Note_7_Lease_Obligations_and_L1
Note 7 - Lease Obligations and Long-Term Debt (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Leases [Abstract] | ' | ||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||
Capital | Operating | ||||||||
Leases | Leases | ||||||||
2014 | $ | 34,130 | $ | 4,941 | |||||
2015 | 74,343 | 20,301 | |||||||
2016 | 12,877 | 2,555 | |||||||
2017 | 12,860 | 2,540 | |||||||
2018 | 27,691 | 2,540 | |||||||
Thereafter | 59,919 | 14,360 | |||||||
Total minimum lease payments | 221,820 | $ | 47,237 | ||||||
Less amounts representing interest | 12,003 | ||||||||
Present value of minimum lease payments | 209,817 | ||||||||
Less current maturities | 30,631 | ||||||||
Non-current portion | $ | 179,186 |
Note_8_Fair_Value_Measurements1
Note 8 - Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
Balance | Balance | Balance | Balance | Balance | Balance | Balance | Balance | ||||||||||||||||||||||||||
at | at | at | at | at | at | at | at | ||||||||||||||||||||||||||
September | June | September | June | September | June | September | June | ||||||||||||||||||||||||||
30, | 30, | 30, | 30, | 30, | 30, | 30, | 30, | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||
Foreign currency derivatives | $ | 95 | $ | (70 | ) | $ | --- | $ | --- | $ | 95 | $ | (70 | ) | $ | --- | $ | --- | |||||||||||||||
Fuel derivatives | 47 | 45 | --- | --- | 47 | 45 | --- | --- |
Note_13_Goodwill_and_Other_Int1
Note 13 - Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | ' | ||||||||||||
30-Sep-13 | |||||||||||||
Gross carrying amount | Amortization period (years) | Accumulated amortization | |||||||||||
Amortizing intangible assets: Customer list | $ | 650 | 4 | $ | 116 | ||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||
Goodwill | |||||||||||||
30-Jun-13 | Current year additions | 30-Sep-13 | |||||||||||
Asset based | $ | 16,362 | $ | 2,685 | $ | 19,047 | |||||||
Asset light | $ | 1,368 | --- | $ | 1,368 | ||||||||
Total Goodwill | $ | 17,730 | $ | 2,685 | $ | 20,415 |
Note_2_Earnings_Per_Share_Deta
Note 2 - Earnings Per Share (Details) - Reconciliation of Basic and Diluted Earnings Per Share (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Reconciliation of Basic and Diluted Earnings Per Share [Abstract] | ' | ' |
Weighted average common shares outstanding b basic | 22,930 | 22,383 |
Dilutive effect of stock options and unvested restricted stock units | 732 | 802 |
Weighted average common shares outstanding b diluted | 23,662 | 23,185 |
Net income (in Dollars) | $6,566 | $8,262 |
Basic (in Dollars per share) | $0.29 | $0.37 |
Diluted (in Dollars per share) | $0.28 | $0.36 |
Note_2_Earnings_Per_Share_Deta1
Note 2 - Earnings Per Share (Details) - Antidilutive Securities | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 |
Antidilutive Securities [Abstract] | ' |
Number of anti-dilutive shares | 90 |
Note_3_Stock_Based_Compensatio2
Note 3 - Stock Based Compensation (Details) (USD $) | 3 Months Ended |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 0.2 |
Stock Appreciation Rights Outstanding (in Shares) | 143,156 |
Grant Date Fair Value of Stock Appreciation Rights (in Dollars per share) | 8.64 |
2006 Omnibus Incentive Plan [Member] | Weighted-Average Period [Member] | ' |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '219 days |
2006 Omnibus Incentive Plan [Member] | Total Period [Member] | ' |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '1 year 6 months |
Restricted Stock [Member] | ' |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 4 |
Restricted Stock [Member] | Weighted-Average Period [Member] | ' |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '2 years 146 days |
Restricted Stock [Member] | Total Period [Member] | ' |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '3 years 109 days |
Note_3_Stock_Based_Compensatio3
Note 3 - Stock Based Compensation (Details) - Components of Share Based Compensation Expense (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock Compensation Expense | $545 | $537 |
Employee Stock Option [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock Compensation Expense | 74 | 106 |
Restricted Stock [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock Compensation Expense | 471 | 475 |
Stock Appreciation Rights (SARs) [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock Compensation Expense | ' | ($44) |
Note_3_Stock_Based_Compensatio4
Note 3 - Stock Based Compensation (Details) - Summary of the Award Activity of the Stock Option Plans (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Summary of the Award Activity of the Stock Option Plans [Abstract] | ' |
Outstanding at July 1, 2013 | 1,148,790 |
Outstanding at July 1, 2013 (in Dollars per share) | $10.76 |
Outstanding at September 30, 2013 | 1,047,003 |
Outstanding at September 30, 2013 (in Dollars per share) | $9.62 |
Exercisable at September 30, 2013 | 989,003 |
Exercisable at September 30, 2013 (in Dollars per share) | $9.73 |
Exercised | 100,037 |
Exercised (in Dollars per share) | $12.81 |
Forfeited or expired | 1,750 |
Forfeited or expired (in Dollars per share) | $12.79 |
Note_3_Stock_Based_Compensatio5
Note 3 - Stock Based Compensation (Details) - Summary of the Restricted Stock Award Activity (Restricted Stock [Member], USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Restricted Stock [Member] | ' |
Note 3 - Stock Based Compensation (Details) - Summary of the Restricted Stock Award Activity [Line Items] | ' |
Unvested at July 1, 2013 | 355,963 |
Unvested at July 1, 2013 (in Dollars per share) | $15.75 |
Outstanding at September 30, 2013 | 351,438 |
Outstanding at September 30, 2013 (in Dollars per share) | $15.79 |
Forfeited | 4,525 |
Forfeited (in Dollars per share) | $12.40 |
Note_4_Segment_Information_Det
Note 4 - Segment Information (Details) | 3 Months Ended |
Sep. 30, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 2 |
Note_4_Segment_Information_Det1
Note 4 - Segment Information (Details) - Segment Reporting Information (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' |
Operating Revenues | $175,102 | $153,297 |
Operating Income | 11,532 | 15,139 |
Asset Based [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Operating Revenues | 162,621 | 142,435 |
Operating Income | 10,376 | 14,309 |
Asset-light Based [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Operating Revenues | 12,481 | 10,862 |
Operating Income | $1,155 | $830 |
Note_4_Segment_Information_Det2
Note 4 - Segment Information (Details) - Operating Revenue by Geographic Area (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Operating Revenues | $175,102 | $153,297 |
United States [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Operating Revenues | 146,205 | 134,131 |
Canada [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Operating Revenues | 21,087 | 10,903 |
Mexico [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Operating Revenues | $7,810 | $8,263 |
Note_5_Income_Taxes_Details
Note 5 - Income Taxes (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | 37.80% | 39.30% |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued (in Dollars) | $0.50 | ' |
Note_6_Commitments_and_Conting1
Note 6 - Commitments and Contingencies (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Purchase Commitment, Remaining Minimum Amount Committed | $18.60 |
Letters of Credit Outstanding, Amount | $0.80 |
Note_7_Lease_Obligations_and_L2
Note 7 - Lease Obligations and Long-Term Debt (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Leases [Abstract] | ' | ' | ' |
Long-term Debt, Excluding Current Maturities | $104,591 | $78,137 | $28,600 |
Note_7_Lease_Obligations_and_L3
Note 7 - Lease Obligations and Long-Term Debt (Details) - Future Minimum Leases Payments (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Future Minimum Leases Payments [Abstract] | ' | ' |
2014 | $34,130 | ' |
2014 | 4,941 | ' |
2015 | 74,343 | ' |
2015 | 20,301 | ' |
2016 | 12,877 | ' |
2016 | 2,555 | ' |
2017 | 12,860 | ' |
2017 | 2,540 | ' |
2018 | 27,691 | ' |
2018 | 2,540 | ' |
Thereafter | 59,919 | ' |
Thereafter | 14,360 | ' |
Total minimum lease payments | 221,820 | ' |
Total minimum lease payments | 47,237 | ' |
Less amounts representing interest | 12,003 | ' |
Present value of minimum lease payments | 209,817 | ' |
Less current maturities | 30,631 | 25,669 |
Non-current portion | $179,186 | $190,625 |
Note_8_Fair_Value_Measurements2
Note 8 - Fair Value Measurements (Details) - Fair Value of Financial Assets and Liabilities (USD $) | Sep. 30, 2012 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | ||
Note 8 - Fair Value Measurements (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ' | ' |
Foreign currency derivatives | $95 | ($70) |
Fuel derivatives | 47 | 45 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 8 - Fair Value Measurements (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ' | ' |
Foreign currency derivatives | 95 | -70 |
Fuel derivatives | $47 | $45 |
Note_9_Dividend_Details
Note 9 - Dividend (Details) (USD $) | 1 Months Ended |
Jul. 28, 2013 | |
Dividend [Abstract] | ' |
Common Stock, Dividends, Per Share, Declared | $0.02 |
Note_10_Fuel_Derivatives_Detai
Note 10 - Fuel Derivatives (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' |
Number of Gallons of Fuel Covered by Futures Contracts | 378,000 | ' |
Number of Gallons of Fuel Per Month Covered by Futures Contracts | 126,000 | ' |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net (in Dollars) | ' | $0.10 |
Note_11_Acquisitions_and_Asset1
Note 11 - Acquisitions and Assets Held for Sale (Details) (USD $) | Aug. 26, 2013 | Aug. 26, 2013 | Sep. 13, 2013 | Sep. 16, 2013 |
In Millions, unless otherwise specified | Houg [Member] | Land Span [Member] | TCI [Member] | Hoss [Member] |
Note 11 - Acquisitions and Assets Held for Sale (Details) [Line Items] | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | $2.30 | ' | $1.80 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 2.7 | 11.4 | 4 | 1.2 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1 | ' | 1.6 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 0.3 | 0.1 | 0.6 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 4.4 | 6.1 | 4 | 0.2 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 1.9 | ' | 1.1 | ' |
Payments to Acquire Businesses, Gross | ' | $5.40 | $2.90 | $1 |
Note_13_Goodwill_and_Other_Int2
Note 13 - Goodwill and Other Intangible Assets (Details) (USD $) | Aug. 26, 2013 | Aug. 26, 2013 | Sep. 13, 2013 | Sep. 13, 2013 |
In Millions, unless otherwise specified | Houg [Member] | Houg [Member] | TCI [Member] | TCI [Member] |
Goodwill [Member] | Goodwill [Member] | |||
Note 13 - Goodwill and Other Intangible Assets (Details) [Line Items] | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $1.10 | $1 | $1.60 | $1.60 |
Note_13_Goodwill_and_Other_Int3
Note 13 - Goodwill and Other Intangible Assets (Details) - Acquired Intangible Assets (Customer Lists [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Customer Lists [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Amortizing intangible assets: Customer list | $650 |
Amortizing intangible assets: Customer list | '4 years |
Amortizing intangible assets: Customer list | $116 |
Note_13_Goodwill_and_Other_Int4
Note 13 - Goodwill and Other Intangible Assets (Details) - Additions to Goodwill (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 |
Goodwill [Line Items] | ' | ' |
Goodwill | $20,415 | $17,730 |
Current year additions | 2,685 | ' |
Asset Based [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | 19,047 | 16,362 |
Current year additions | 2,685 | ' |
Asset-light Based [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | $1,368 | $1,368 |