Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Sep. 30, 2014 | Nov. 07, 2014 | |
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 | ' | 23,647,833 |
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-14 | ' |
Document Fiscal Year Focus | '2015 | ' |
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, 2014 | Sep. 30, 2013 |
OPERATING REVENUE: | ' | ' |
Freight revenue | $157,704 | $141,956 |
Fuel surcharge revenue | 35,712 | 33,146 |
Total revenue | 193,416 | 175,102 |
OPERATING EXPENSES: | ' | ' |
Salaries, wages, and employee benefits | 57,222 | 46,654 |
Fuel | 39,985 | 36,843 |
Purchased transportation | 43,637 | 41,744 |
Revenue equipment rentals | 2,590 | 1,652 |
Operations and maintenance | 11,240 | 11,274 |
Insurance and claims | 5,676 | 4,140 |
Depreciation and amortization | 15,556 | 16,086 |
Communications and utilities | 1,830 | 1,364 |
Operating taxes and licenses | 3,315 | 2,832 |
General and other operating | 3,455 | 2,139 |
Gain on disposition of equipment | -4,558 | -1,158 |
Total operating expenses | 179,948 | 163,570 |
Operating Income | 13,468 | 11,532 |
Interest expense | 1,169 | 1,224 |
Other (income) expense | -78 | -241 |
Income before income taxes | 12,377 | 10,549 |
Income tax expense | 4,329 | 3,983 |
Net income | $8,048 | $6,566 |
Income per common share: | ' | ' |
Diluted (in Dollars per share) | $0.34 | $0.28 |
Basic (in Dollars per share) | $0.35 | $0.29 |
Diluted weighted average shares outstanding (in Shares) | 23,934 | 23,662 |
Basic weighted average shares outstanding (in Shares) | 23,240 | 22,930 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Net income | $8,048 | $6,566 |
Unrealized gain (loss) on fuel derivative instruments, net of tax | ' | 2 |
Unrealized gain (loss) on currency derivative instruments, net of tax | -35 | 165 |
Foreign currency translation adjustments, net of tax | -3,852 | 447 |
Total other comprehensive income (loss) | -3,887 | 614 |
Comprehensive income | $4,161 | $7,180 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $10,097 | $15,508 |
Trade receivables, net of allowance for doubtful accounts of $968 and $942 at September 30, 2014 and June 30, 2014, respectively | 99,922 | 105,968 |
Prepaid expenses and other current assets | 36,234 | 26,288 |
Tires in service | 1,952 | 2,227 |
Equipment held for resale | 3,054 | 3,148 |
Income tax receivable | 4,704 | 6,395 |
Deferred income taxes | 7,243 | 7,651 |
Total current assets | 163,206 | 167,185 |
Property and equipment | 701,331 | 643,888 |
Less accumulated depreciation and amortization | 151,875 | 151,059 |
Net property and equipment | 549,456 | 492,829 |
Tires in service | 2,426 | 2,720 |
Goodwill | 22,800 | 22,810 |
Other assets | 5,156 | 5,271 |
Total assets | 743,044 | 690,815 |
Current liabilities: | ' | ' |
Accounts payable | 9,363 | 11,017 |
Accrued salaries and benefits | 11,572 | 13,902 |
Accrued insurance and claims | 10,882 | 11,568 |
Accrued fuel expense | 9,043 | 11,306 |
Other accrued expenses | 37,755 | 33,453 |
Current maturities of long term debt | 3,040 | 3,690 |
Current maturities of capital lease obligations | 60,310 | 67,439 |
Total current liabilities | 141,965 | 152,375 |
Capital lease obligations, net of current maturities | 141,840 | 119,665 |
Long term debt | 116,249 | 83,497 |
Deferred income taxes | 78,719 | 76,275 |
Stockholders' equity: | ' | ' |
Common stock, $0.033 par value, authorized 40,000 shares; issued and outstanding 24,149 and 24,060 shares at September 30, 2014 and June 30, 2014, respectively | 797 | 794 |
Treasury stock at cost; 500 and 500 shares at September 30, 2014 and June 30, 2014, respectively | -3,453 | -3,453 |
Additional paid-in capital | 109,148 | 107,579 |
Retained earnings | 167,651 | 160,068 |
Accumulated other comprehensive loss | -9,872 | -5,985 |
Total stockholders' equity | 264,271 | 259,003 |
Total liabilities and stockholders' equity | $743,044 | $690,815 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, except Per Share data, unless otherwise specified | ||
Trade receivables, allowance for doubtful accounts (in Dollars) | $968 | $942 |
Common stock, par value (in Dollars per share) | $0.03 | $0.03 |
Common stock, shares authorized | 40,000 | 40,000 |
Common stock, shares issued | 24,149 | 24,060 |
Common stock, shares outstanding | 24,149 | 24,060 |
Treasury stock at cost; shares | 500 | 500 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $8,048 | $6,566 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 15,625 | 16,083 |
Gain on sale of equipment | -4,558 | -1,158 |
Stock based compensation | 720 | 545 |
Deferred income taxes | 2,775 | -2,395 |
Provision for doubtful accounts | 60 | ' |
Changes in assets and liabilities: | ' | ' |
Trade receivables | 5,370 | 295 |
Income taxes | 1,845 | 5,690 |
Tires in service | 555 | 490 |
Prepaid expenses and other current assets | -17,213 | -5,411 |
Other assets | -170 | -261 |
Accounts payable and accrued expenses | -4,208 | -4,561 |
Net cash provided by operating activities | 8,849 | 15,884 |
Cash flows from investing activities: | ' | ' |
Purchase of property and equipment | -78,828 | -19,758 |
Proceeds on sale of property and equipment | 71,927 | 8,833 |
Purchase of businesses | -10,048 | -9,284 |
Net cash used in investing activities | -16,949 | -20,209 |
Cash flows from financing activities: | ' | ' |
Proceeds from borrowings on long-term debt | 162,100 | 81,510 |
Payments on bank borrowing on long-term debt | -133,100 | -69,882 |
Principal payments under capital lease obligations | -26,648 | -6,476 |
Dividends paid | -464 | -457 |
Proceeds from issuance of common stock | 852 | 1,304 |
Net cash provided by financing activities | 2,740 | 5,999 |
Effect of exchange rates on cash and cash equivalents | -51 | 621 |
Increase (Decrease) in cash and cash equivalents | -5,411 | 2,295 |
Cash and cash equivalents at beginning of period | 15,508 | 1,315 |
Cash and cash equivalents at end of period | 10,097 | 3,610 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid | 1,181 | 1,224 |
Income taxes paid | 4,200 | 94 |
Lease obligation incurred in the purchase of equipment | $41,695 | ' |
Note_1_Basis_of_Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Sep. 30, 2014 | |
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, 2014. | |
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, 2014 | |||||||||
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, | |||||||||
2014 | 2013 | ||||||||
Weighted average common shares outstanding – basic | 23,240 | 22,930 | |||||||
Dilutive effect of stock options and unvested restricted stock units | 694 | 732 | |||||||
Weighted average common shares outstanding – diluted | 23,934 | 23,662 | |||||||
Net income | $ | 8,048 | $ | 6,566 | |||||
Earnings per common share | |||||||||
Basic | $ | 0.35 | $ | 0.29 | |||||
Diluted | $ | 0.34 | $ | 0.28 | |||||
For the three months ended September 30, 2014 and September 30, 2013 there were no shares classified as anti-dilutive. |
Note_3_Stock_Based_Compensatio
Note 3 - Stock Based Compensation | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
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, | |||||||||
2014 | 2013 | ||||||||
Stock compensation expense for options, net of forfeitures | $ | 24 | $ | 74 | |||||
Stock compensation expense for restricted stock, net of forfeitures | 696 | 471 | |||||||
Total stock compensation expense (income) | $ | 720 | $ | 545 | |||||
As of September 30, 2014, we have approximately $0.1 million of unrecognized compensation cost related to unvested options granted under our 2006 Omnibus Incentive Plan, as amended (the "2006 Plan"). This cost is expected to be recognized over a weighted-average period of 0.3 years and a total period of 0.3 years. | |||||||||
A summary of the award activity of our stock option plans as of September 30, 2014, 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, 2014 | 905,098 | $ | 10.25 | ||||||
Granted | --- | --- | |||||||
Exercised | 82,900 | $ | 10.28 | ||||||
Forfeited or expired | --- | --- | |||||||
Outstanding at September 30, 2014 | 822,198 | $ | 10.25 | ||||||
Exercisable at September 30, 2014 | 809,698 | $ | 10.18 | ||||||
As of September 30, 2014, we also have approximately $5.1 million of unrecognized compensation expense related to restricted stock awards, which is anticipated to be recognized over a weighted-average period of 2.6 years and a total period of 4.4 years. A summary of the restricted stock award activity under the 2006 Plan as of September 30, 2014, and changes during the three-month period then ended is presented below: | |||||||||
Number of Restricted Stock Awards | Weighted-Average Grant Date Fair Value | ||||||||
Unvested at July 1, 2014 | 356,705 | $ | 18.88 | ||||||
Granted | 9,154 | $ | 19.25 | ||||||
Vested and Issued | 1,750 | $ | 13.94 | ||||||
Forfeited | 3,299 | $ | 17.53 | ||||||
Outstanding at September 30, 2014 | 360,810 | $ | 18.92 | ||||||
The fair value of each restricted stock award is based on the closing market price on the date of grant. |
Note_4_Segment_Information
Note 4 - Segment Information | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
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 280-10-50, Segment Reporting. | |||||||||
Operating Revenues | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Asset-Based | $ | 176,869 | $ | 161,055 | |||||
Asset-light-Based | 16,547 | 14,047 | |||||||
Total | $ | 193,416 | $ | 175,102 | |||||
Operating Income | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Asset-Based | $ | 11,249 | $ | 10,286 | |||||
Asset-light-Based | 2,219 | 1,246 | |||||||
Total | $ | 13,468 | $ | 11,532 | |||||
Information as to our operating revenue by geographic area is summarized below. We allocate operating revenue based on the country of origin of the tractor hauling the freight: | |||||||||
Operating Revenue | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
United States | $ | 153,186 | $ | 146,205 | |||||
Canada | 29,206 | 21,087 | |||||||
Mexico | 11,024 | 7,810 | |||||||
Consolidated | $ | 193,416 | $ | 175,102 | |||||
Note_5_Income_Taxes
Note 5 - Income Taxes | 3 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
5. Income Taxes | |
Our effective income tax rate was 35.0% for the three-month period ended September 30, 2014, compared with 37.8% for the three-month period ended September 30, 2013. 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. The change in the proportion of income from domestic and foreign sources affects our effective tax rate. Income tax expense also 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. Under this pay structure, drivers who meet the requirements and elect to receive per diem are generally required 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. | |
We follow 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 2010 through 2012 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, 2014, we 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, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
6. Commitments and Contingencies | |
We have outstanding commitments to purchase approximately $67.8 million of revenue equipment at September 30, 2014. | |
Standby letters of credit, not reflected in the accompanying consolidated financial statements, aggregated approximately $1.2 million at September 30, 2014. In addition, at September 30, 2014, 500,000 treasury shares were held in a trust as collateral for self-insurance reserves. |
Note_7_Lease_Obligations_and_L
Note 7 - Lease Obligations and Long-Term Debt | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Leases [Abstract] | ' | ||||||||
Leases of Lessee Disclosure [Text Block] | ' | ||||||||
7. Lease Obligations and Long-Term Debt | |||||||||
We lease certain revenue and service equipment under long-term lease agreements, payable in monthly installments. | |||||||||
Equipment obtained under a capital lease is reflected on our balance sheet as owned and the related leases mature at various dates through 2020. | |||||||||
Assets held under operating leases are not recorded on our balance sheet. We lease revenue and service equipment under non-cancellable operating leases expiring at various dates through 2019. | |||||||||
Long-Term Debt | |||||||||
We had debt, excluding capital leases, of $119.3 million at September 30, 2014, of which $104.3 million relates to our line of credit. Debt includes revenue equipment installment notes of $2.1 million with an average interest rate of 4.2 percent at September 30, 2014 due in monthly installments with final maturities at various dates through June 2019. Included in debt is $9.1 million related to our escrow agreement from the sale of lease purchase units sold to Element Financial Corp. that carries no interest rate. Additionally, $3.8 million of debt relates to non-compete agreement payments related to acquisitions that carry no interest rates. | |||||||||
Future minimum lease payments relating to capital leases and operating leases as of September 30, 2014 (in thousands): | |||||||||
Capital | Operating | ||||||||
Leases | Leases | ||||||||
2015 | $ | 62,518 | $ | 16,281 | |||||
2016 | 18,814 | 5,885 | |||||||
2017 | 17,642 | 2,544 | |||||||
2018 | 27,614 | 6,851 | |||||||
2019 | 43,309 | 5,785 | |||||||
Thereafter | 16,552 | --- | |||||||
Total minimum lease payments | 212,026 | $ | 37,346 | ||||||
Less amounts representing interest | 9,876 | ||||||||
Present value of minimum lease payments | 202,150 | ||||||||
Less current maturities | 60,310 | ||||||||
Non-current portion | $ | 141,840 | |||||||
Note_8_Fair_Value_Measurements
Note 8 - Fair Value Measurements | 3 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
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 market 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 we have 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 our 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 our financial assets and liabilities (in thousands) that are required to be measured at fair value as of September 30, 2014, and June 30, 2014. | |||||||||||||||||||||||||||||||||
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, | ||||||||||||||||||||||||||
2014 | 2014 | 2014 | 2014 | 2014 | 2014 | 2014 | 2014 | ||||||||||||||||||||||||||
Foreign currency derivatives | $ | --- | $ | 35 | $ | --- | $ | --- | $ | --- | $ | 35 | $ | --- | $ | --- | |||||||||||||||||
Fuel derivatives | --- | --- | --- | --- | --- | --- | --- | --- | |||||||||||||||||||||||||
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, 2014 the fair value of these instruments were approximated by their carrying values. |
Note_9_Dividend
Note 9 - Dividend | 3 Months Ended |
Sep. 30, 2014 | |
Dividend [Abstract] | ' |
Dividend [Text Block] | ' |
9. Dividend | |
On August 6, 2014, we declared a cash dividend of $0.02 per share of common stock. The dividend was payable to shareholders of record on October 3, 2014, and was paid on October 17, 2014. 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_Acquisitions
Note 10 - Acquisitions | 3 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block Supplement [Abstract] | ' |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | ' |
10. Acquisitions | |
On September 3, 2014, we acquired certain assets of Furniture Row Express, LLC (“FRE”) in Denver, CO for $10.0 million. The assets acquired include 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 FRE drivers and continue dry-van and temperature-controlled services for the FRE customers. |
Note_11_Goodwill_and_Other_Int
Note 11 - Goodwill and Other Intangible Assets | 3 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||||||||||
11. Goodwill and Other Intangible Assets | |||||||||||||||||
The acquired intangible assets relate to customer relations acquired through acquisition in fiscal 2014. There have been no additions to intangible assets in fiscal 2015. We did not have any amortizable intangible assets prior to fiscal 2014. | |||||||||||||||||
Intangibles | |||||||||||||||||
30-Jun-14 | Current Year Additions | 30-Sep-14 | |||||||||||||||
Gross carrying amount | $ | 650 | --- | $ | 650 | ||||||||||||
Accumulated amortization | 237 | $ | 41 | 278 | |||||||||||||
$ | 413 | $ | 372 | ||||||||||||||
There have been no additions to goodwill in the current year. | |||||||||||||||||
Goodwill | |||||||||||||||||
30-Jun-14 | Current year additions | Foreign currency translation effect | 30-Sep-14 | ||||||||||||||
Asset based | $ | 21,442 | $ | --- | $ | (10 | ) | $ | 21,432 | ||||||||
Asset light | $ | 1,368 | --- | --- | $ | 1,368 | |||||||||||
Total Goodwill | $ | 22,810 | $ | --- | $ | (10 | ) | $ | 22,800 | ||||||||
Note_12_Gain_on_Disposition_of
Note 12 - Gain on Disposition of Equipment | 3 Months Ended |
Sep. 30, 2014 | |
Property, Plant and Equipment [Abstract] | ' |
Property, Plant and Equipment Disclosure [Text Block] | ' |
12. Gain on Disposition of Equipment | |
Pursuant to the March 2014 transaction with Element Financial Corp. ("Element"), we routinely sell equipment to Element for use by independent contractors. Total sales proceeds from these transactions during the first quarter of fiscal 2015 were $46.1 million. The primary purpose of these transactions is to reduce our debt, facilitate continued use of independent contractors, and reduce the administrative burdens associated with the administration of independent contractor leases. In accordance with ASC 605-45, the Company recorded these transactions on a net basis as an agent versus grossing up the sales in revenue and costs of goods sold as a principal. The net gain in the first quarter of 2015 as a result of these transactions was $3.5 million. As the transactions with Element began during the second half of fiscal 2014, no comparable sales proceeds were realized during the first quarter of fiscal 2014. |
Note_13_Reclassifications_and_
Note 13 - Reclassifications and Adjustments | 3 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Reclassifications [Text Block] | ' |
13. Reclassifications and Adjustments | |
Certain items in the prior year's consolidated financial statements have been reclassified to conform to the current presentation. |
Note_14_Subsequent_Events
Note 14 - Subsequent Events | 3 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
14. Subsequent Events | |
On October 24, 2014, we entered into a definitive Membership Interest Purchase Agreement (the "Agreement") to acquire all of the outstanding interests of A&S Services Group, LLC ("A&S") from the holders of such interests. Under the Agreement, the Company paid $55 million and assumed $31.8 million of indebtedness in connection with operating leases, which will be capitalized and recorded on the Company's balance sheet. | |
The Agreement contains customary representations, warranties, covenants, and indemnification provisions. At closing, $2.75 million of the closing cash consideration was placed in escrow to secure A&S’s indemnification obligations to the Company. The acquisition was funded through the Company's existing credit facility. |
Note_2_Earnings_Per_Share_Tabl
Note 2 - Earnings Per Share (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||
Three months ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Weighted average common shares outstanding – basic | 23,240 | 22,930 | |||||||
Dilutive effect of stock options and unvested restricted stock units | 694 | 732 | |||||||
Weighted average common shares outstanding – diluted | 23,934 | 23,662 | |||||||
Net income | $ | 8,048 | $ | 6,566 | |||||
Earnings per common share | |||||||||
Basic | $ | 0.35 | $ | 0.29 | |||||
Diluted | $ | 0.34 | $ | 0.28 |
Note_3_Stock_Based_Compensatio1
Note 3 - Stock Based Compensation (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
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, | |||||||||
2014 | 2013 | ||||||||
Stock compensation expense for options, net of forfeitures | $ | 24 | $ | 74 | |||||
Stock compensation expense for restricted stock, net of forfeitures | 696 | 471 | |||||||
Total stock compensation expense (income) | $ | 720 | $ | 545 | |||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||
Options | Option Totals | Weighted-Average | |||||||
Exercise | |||||||||
Price per Share | |||||||||
Outstanding at July 1, 2014 | 905,098 | $ | 10.25 | ||||||
Granted | --- | --- | |||||||
Exercised | 82,900 | $ | 10.28 | ||||||
Forfeited or expired | --- | --- | |||||||
Outstanding at September 30, 2014 | 822,198 | $ | 10.25 | ||||||
Exercisable at September 30, 2014 | 809,698 | $ | 10.18 | ||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||
Number of Restricted Stock Awards | Weighted-Average Grant Date Fair Value | ||||||||
Unvested at July 1, 2014 | 356,705 | $ | 18.88 | ||||||
Granted | 9,154 | $ | 19.25 | ||||||
Vested and Issued | 1,750 | $ | 13.94 | ||||||
Forfeited | 3,299 | $ | 17.53 | ||||||
Outstanding at September 30, 2014 | 360,810 | $ | 18.92 |
Note_4_Segment_Information_Tab
Note 4 - Segment Information (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||
Operating Revenues | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Asset-Based | $ | 176,869 | $ | 161,055 | |||||
Asset-light-Based | 16,547 | 14,047 | |||||||
Total | $ | 193,416 | $ | 175,102 | |||||
Operating Income | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
Asset-Based | $ | 11,249 | $ | 10,286 | |||||
Asset-light-Based | 2,219 | 1,246 | |||||||
Total | $ | 13,468 | $ | 11,532 | |||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | ' | ||||||||
Operating Revenue | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
United States | $ | 153,186 | $ | 146,205 | |||||
Canada | 29,206 | 21,087 | |||||||
Mexico | 11,024 | 7,810 | |||||||
Consolidated | $ | 193,416 | $ | 175,102 |
Note_7_Lease_Obligations_and_L1
Note 7 - Lease Obligations and Long-Term Debt (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Leases [Abstract] | ' | ||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||
Capital | Operating | ||||||||
Leases | Leases | ||||||||
2015 | $ | 62,518 | $ | 16,281 | |||||
2016 | 18,814 | 5,885 | |||||||
2017 | 17,642 | 2,544 | |||||||
2018 | 27,614 | 6,851 | |||||||
2019 | 43,309 | 5,785 | |||||||
Thereafter | 16,552 | --- | |||||||
Total minimum lease payments | 212,026 | $ | 37,346 | ||||||
Less amounts representing interest | 9,876 | ||||||||
Present value of minimum lease payments | 202,150 | ||||||||
Less current maturities | 60,310 | ||||||||
Non-current portion | $ | 141,840 |
Note_8_Fair_Value_Measurements1
Note 8 - Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
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, | ||||||||||||||||||||||||||
2014 | 2014 | 2014 | 2014 | 2014 | 2014 | 2014 | 2014 | ||||||||||||||||||||||||||
Foreign currency derivatives | $ | --- | $ | 35 | $ | --- | $ | --- | $ | --- | $ | 35 | $ | --- | $ | --- | |||||||||||||||||
Fuel derivatives | --- | --- | --- | --- | --- | --- | --- | --- |
Note_11_Goodwill_and_Other_Int1
Note 11 - Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | ' | ||||||||||||||||
Intangibles | |||||||||||||||||
30-Jun-14 | Current Year Additions | 30-Sep-14 | |||||||||||||||
Gross carrying amount | $ | 650 | --- | $ | 650 | ||||||||||||
Accumulated amortization | 237 | $ | 41 | 278 | |||||||||||||
$ | 413 | $ | 372 | ||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||||||
Goodwill | |||||||||||||||||
30-Jun-14 | Current year additions | Foreign currency translation effect | 30-Sep-14 | ||||||||||||||
Asset based | $ | 21,442 | $ | --- | $ | (10 | ) | $ | 21,432 | ||||||||
Asset light | $ | 1,368 | --- | --- | $ | 1,368 | |||||||||||
Total Goodwill | $ | 22,810 | $ | --- | $ | (10 | ) | $ | 22,800 |
Note_2_Earnings_Per_Share_Deta
Note 2 - Earnings Per Share (Details) | 3 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 |
Note_2_Earnings_Per_Share_Deta1
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, 2014 | Sep. 30, 2013 |
Reconciliation of Basic and Diluted Earnings Per Share [Abstract] | ' | ' |
Weighted average common shares outstanding b basic | 23,240 | 22,930 |
Dilutive effect of stock options and unvested restricted stock units | 694 | 732 |
Weighted average common shares outstanding b diluted | 23,934 | 23,662 |
Net income (in Dollars) | $8,048 | $6,566 |
Earnings per common share | ' | ' |
Basic (in Dollars per share) | $0.35 | $0.29 |
Diluted (in Dollars per share) | $0.34 | $0.28 |
Note_3_Stock_Based_Compensatio2
Note 3 - Stock Based Compensation (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Restricted Stock [Member] | Weighted Average [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 219 days |
Restricted Stock [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 | '4 years 146 days |
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) | 5.1 |
Weighted Average [Member] | 2006 Omnibus Incentive Plan [Member] | ' |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '109 days |
Total Period [Member] | 2006 Omnibus Incentive Plan [Member] | ' |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '109 days |
2006 Omnibus Incentive Plan [Member] | ' |
Note 3 - Stock Based Compensation (Details) [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 0.1 |
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, 2014 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ' | ' |
Stock compensation expense | $720 | $545 |
Employee Stock Option [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ' | ' |
Stock compensation expense | 24 | 74 |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ' | ' |
Stock compensation expense | $696 | $471 |
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 |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 |
Summary of the Award Activity of the Stock Option Plans [Abstract] | ' |
Outstanding | 905,098 |
Outstanding - Weighted average exercise price | $10.25 |
Exercisable at September 30, 2014 | 809,698 |
Exercisable at September 30, 2014 | $10.18 |
Exercised | 82,900 |
Exercised | $10.28 |
Outstanding | 822,198 |
Outstanding - Weighted average exercise price | $10.25 |
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 |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 |
Restricted Stock [Member] | ' |
Note 3 - Stock Based Compensation (Details) - Summary of the Restricted Stock Award Activity [Line Items] | ' |
Unvested at July 1, 2014 | 356,705 |
Unvested at July 1, 2014 | $18.88 |
Outstanding at September 30, 2014 | 360,810 |
Outstanding at September 30, 2014 | $18.92 |
Granted | 9,154 |
Granted | $19.25 |
Vested and Issued | 1,750 |
Vested and Issued | $13.94 |
Forfeited | 3,299 |
Forfeited | $17.53 |
Note_4_Segment_Information_Det
Note 4 - Segment Information (Details) | 3 Months Ended |
Sep. 30, 2014 | |
Segment Reporting [Abstract] | ' |
Number of Operating 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, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | $193,416 | $175,102 |
Operating income | 13,468 | 11,532 |
Asset Based [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | 176,869 | 161,055 |
Operating income | 11,249 | 10,286 |
Asset-light Based [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | 16,547 | 14,047 |
Operating income | $2,219 | $1,246 |
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, 2014 | Sep. 30, 2013 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | $193,416 | $175,102 |
UNITED STATES | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | 153,186 | 146,205 |
CANADA | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | 29,206 | 21,087 |
MEXICO | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | $11,024 | $7,810 |
Note_5_Income_Taxes_Details
Note 5 - Income Taxes (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Note 5 - Income Taxes (Details) [Line Items] | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | 35.00% | 37.80% |
Unrecognized Tax Benefits | $0.50 | ' |
Earliest Tax Year [Member] | Domestic Tax Authority [Member] | ' | ' |
Note 5 - Income Taxes (Details) [Line Items] | ' | ' |
Open Tax Year | '2010 | ' |
Latest Tax Year [Member] | Domestic Tax Authority [Member] | ' | ' |
Note 5 - Income Taxes (Details) [Line Items] | ' | ' |
Open Tax Year | '2012 | ' |
Note_6_Commitments_and_Conting1
Note 6 - Commitments and Contingencies (Details) (USD $) | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 |
Note 6 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Long-term Purchase Commitment, Amount | $67.80 | ' |
Letters of Credit Outstanding, Amount | $1.20 | ' |
Treasury Stock, Shares (in Shares) | 500,000 | 500,000 |
Held in Trust [Member] | ' | ' |
Note 6 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Treasury Stock, Shares (in Shares) | 500,000 | ' |
Note_7_Lease_Obligations_and_L2
Note 7 - Lease Obligations and Long-Term Debt (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Note 7 - Lease Obligations and Long-Term Debt (Details) [Line Items] | ' |
Long-term Debt | $119.30 |
Long-term Line of Credit | 104.3 |
Revenue Equipment Installment Notes [Member] | ' |
Note 7 - Lease Obligations and Long-Term Debt (Details) [Line Items] | ' |
Other Long-term Debt | 2.1 |
Long-term Debt, Weighted Average Interest Rate | 4.20% |
Escrow Agreement [Member] | ' |
Note 7 - Lease Obligations and Long-Term Debt (Details) [Line Items] | ' |
Other Long-term Debt | 9.1 |
Long-term Debt, Weighted Average Interest Rate | 0.00% |
Non-compete Agreement [Member] | ' |
Note 7 - Lease Obligations and Long-Term Debt (Details) [Line Items] | ' |
Other Long-term Debt | $3.80 |
Long-term Debt, Weighted Average Interest Rate | 0.00% |
Note_7_Lease_Obligations_and_L3
Note 7 - Lease Obligations and Long-Term Debt (Details) - Future Minimum Leases Payments (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Future Minimum Leases Payments [Abstract] | ' | ' |
2015 | $62,518 | ' |
2015 | 16,281 | ' |
2016 | 18,814 | ' |
2016 | 5,885 | ' |
2017 | 17,642 | ' |
2017 | 2,544 | ' |
2018 | 27,614 | ' |
2018 | 6,851 | ' |
2019 | 43,309 | ' |
2019 | 5,785 | ' |
Thereafter | 16,552 | ' |
Total minimum lease payments | 212,026 | ' |
Total minimum lease payments | 37,346 | ' |
Less amounts representing interest | 9,876 | ' |
Present value of minimum lease payments | 202,150 | ' |
Less current maturities | 60,310 | 67,439 |
Non-current portion | $141,840 | $119,665 |
Note_8_Fair_Value_Measurements2
Note 8 - Fair Value Measurements (Details) - Fair Value of Financial Assets and Liabilities (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Note 8 - Fair Value Measurements (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ' |
Foreign currency derivatives | $35 |
Fair Value, Inputs, Level 2 [Member] | ' |
Note 8 - Fair Value Measurements (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ' |
Foreign currency derivatives | $35 |
Note_9_Dividend_Details
Note 9 - Dividend (Details) (USD $) | 0 Months Ended | ||
Aug. 06, 2014 | Oct. 17, 2014 | Oct. 03, 2014 | |
Subsequent Event [Member] | Subsequent Event [Member] | ||
Note 9 - Dividend (Details) [Line Items] | ' | ' | ' |
Dividends Payable, Date Declared | 6-Aug-14 | ' | ' |
Common Stock, Dividends, Per Share, Declared | $0.02 | ' | ' |
Dividends Payable, Date of Record | ' | ' | 3-Oct-14 |
Dividends Payable, Date to be Paid | ' | 17-Oct-14 | ' |
Note_10_Acquisitions_Details
Note 10 - Acquisitions (Details) (Furniture Row Express, LLC [Member], USD $) | Sep. 03, 2014 |
In Millions, unless otherwise specified | |
Furniture Row Express, LLC [Member] | ' |
Note 10 - Acquisitions (Details) [Line Items] | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $10 |
Note_11_Goodwill_and_Other_Int2
Note 11 - Goodwill and Other Intangible Assets (Details) (USD $) | 3 Months Ended |
Sep. 30, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Goodwill, Acquired During Period | $0 |
Note_11_Goodwill_and_Other_Int3
Note 11 - Goodwill and Other Intangible Assets (Details) - Acquired Intangible Assets (USD $) | 3 Months Ended | |
Sep. 30, 2014 | Jun. 30, 2014 | |
Acquired Intangible Assets [Abstract] | ' | ' |
Gross carrying amount | $650,000 | $650,000 |
Accumulated amortization | 278,000 | 237,000 |
Accumulated amortization | 41 | ' |
$372,000 | $413,000 |
Note_11_Goodwill_and_Other_Int4
Note 11 - Goodwill and Other Intangible Assets (Details) - Additions to Goodwill (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 |
Goodwill [Line Items] | ' | ' |
Goodwill | $22,800 | $22,810 |
Foreign Currency Translation Effect | -10 | ' |
Asset Based [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | 21,432 | 21,442 |
Foreign Currency Translation Effect | -10 | ' |
Assetlight [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | $1,368 | $1,368 |
Note_12_Gain_on_Disposition_of1
Note 12 - Gain on Disposition of Equipment (Details) (USD $) | 3 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Note 12 - Gain on Disposition of Equipment (Details) [Line Items] | ' | ' |
Proceeds from Sale of Property, Plant, and Equipment | $71,927,000 | $8,833,000 |
Gain (Loss) on Disposition of Property Plant Equipment | 4,558,000 | 1,158,000 |
Tractors [Member] | ' | ' |
Note 12 - Gain on Disposition of Equipment (Details) [Line Items] | ' | ' |
Proceeds from Sale of Property, Plant, and Equipment | 46,100,000 | 0 |
Gain (Loss) on Disposition of Property Plant Equipment | $3,500,000 | ' |
Note_14_Subsequent_Events_Deta
Note 14 - Subsequent Events (Details) (Subsequent Event [Member], A & S Services Group, LLC [Member], USD $) | 0 Months Ended | |
In Millions, unless otherwise specified | Oct. 24, 2014 | Oct. 24, 2014 |
Subsequent Event [Member] | A & S Services Group, LLC [Member] | ' | ' |
Note 14 - Subsequent Events (Details) [Line Items] | ' | ' |
Payments to Acquire Businesses, Gross | $55 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | ' | 31.8 |
Escrow Deposit | ' | $2.75 |