0001008886-14-000004.txt : 20140114 0001008886-14-000004.hdr.sgml : 20140114 20140114133505 ACCESSION NUMBER: 0001008886-14-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140114 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140114 DATE AS OF CHANGE: 20140114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COVENANT TRANSPORTATION GROUP INC CENTRAL INDEX KEY: 0000928658 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 880320154 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24960 FILM NUMBER: 14526721 BUSINESS ADDRESS: STREET 1: 400 BIRMINGHAM HIGHWAY CITY: CHATTANOOGA STATE: TN ZIP: 37419 BUSINESS PHONE: 4238211212 MAIL ADDRESS: STREET 1: 400 BIRMINGHAM HIGHWAY CITY: CHATTANOOGA STATE: TN ZIP: 37419 FORMER COMPANY: FORMER CONFORMED NAME: COVENANT TRANSPORT INC DATE OF NAME CHANGE: 19940818 8-K 1 form8k.htm CVTI FORM 8-K (4TH QUARTER 2013 EARNINGS PREANNOUNCEMENT RELEASE) form8k.htm  

 


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

___________________________________________________________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):
January 14, 2014

___________________________________________________________________
Covenant Logo
COVENANT TRANSPORTATION GROUP, INC.
(Exact name of registrant as specified in its charter)


Nevada
000-24960
88-0320154
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
  Identification No.)

400 Birmingham Hwy., Chattanooga, TN
37419
(Address of principal executive offices)
(Zip Code)

(423) 821-1212
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[   ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
[   ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
[   ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
[   ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 
 

 



Item 2.02
Results of Operations and Financial Condition.
 
 
On Tuesday, January 14, 2014, Covenant Transportation Group, Inc., a Nevada corporation (the "Company"), issued a press release announcing its expectations concerning financial results for the fourth quarter ended December 31, 2013.  A copy of the press release is attached to this report as Exhibit 99.
   
Item 9.01
Financial Statements and Exhibits.
 
 
(d)
 
Exhibits.
 
 
EXHIBIT
NUMBER
 
 
EXHIBIT DESCRIPTION
 
 
 
Covenant Transportation Group, Inc. press release announcing its expectations concerning financial results for the fourth quarter ended December 31, 2013.
   
 
The information contained in Items 2.02 and 9.01 of this report and the exhibit hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
   
 
The information in Items 2.02 and 9.01 of this report and the exhibit hereto may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended.  Such statements are made based on the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties.  Actual results or events may differ from those anticipated by forward-looking statements.  Please refer to the italicized paragraph at the end of the attached press release and various disclosures by the Company in its press releases, stockholder reports, and filings with the Securities and Exchange Commission for information concerning risks, uncertainties, and other factors that may affect future results.


 
2
 

 
 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
COVENANT TRANSPORTATION GROUP, INC.
     
     
Date: January 14, 2014
By:
/s/ Richard B. Cribbs                                                      
   
Richard B. Cribbs
   
Senior Vice President and Chief Financial Officer

 

3

 
 

 


EXHIBIT INDEX

EXHIBIT
NUMBER
EXHIBIT DESCRIPTION
 
 
Covenant Transportation Group, Inc. press release announcing its expectations concerning financial results for the fourth quarter ended December 31, 2013.



EX-99 2 exhibit99.htm PRESS RELEASE (4TH QUARTER 2013 EARNINGS PREANNOUNCEMENT RELEASE) exhibit99.htm  

 

COVENANT TRANSPORTATION GROUP ANNOUNCES EXPECTATIONS CONCERNING FOURTH QUARTER FINANCIAL RESULTS

CHATTANOOGA, TENNESSEE – January 14, 2014 - Covenant Transportation Group, Inc.  (NASDAQ/GS: CVTI) announced today its expectations regarding financial results for the fourth quarter of 2013.

Financial and Operating Results
 
Chairman, President and Chief Executive Officer, David R. Parker, offered the following comments:  “For the fourth quarter of 2013, we expect to report consolidated net income in a range of $0.18 to $0.22 per diluted share.  These expected results compare to reported consolidated net income of $0.10 per diluted share for the fourth quarter of 2012.

“The expected improvement in earnings per diluted share relates primarily to higher freight revenue per tractor (excluding fuel surcharge revenue) in our asset-based business, significant improvement in revenue and margins in our non-asset based Covenant Transport Solutions business, and lower costs of fuel (net of fuel surcharge recovery). The first two months of the quarter were solid, but not unusual.  During December, we experienced a significant increase in demand, particularly in our expedited team-driver operations, which supported higher than expected freight revenue per mile (excluding fuel surcharge revenue) and miles per tractor. We believe the December activity was unusual and related, at least in part, to the compressed period of time between Thanksgiving and Christmas, holiday shopping trends toward delivery of gifts purchased over the internet, the volume carried by less-than-truckload and parcel delivery companies, and our customer exposure to the linehaul freight of these other transportation companies."

The Company plans to release its fourth quarter earnings after 4:00 p.m. Eastern time on Monday, January 27.  The Company will hold a live conference call to discuss its fourth quarter earnings release on Tuesday, January 28, at 11:00 a.m. Eastern time.  For additional financial and statistical information regarding the Company, please visit our website at www.ctgcompanies.com/investor-relations.

Covenant Transportation Group, Inc. is the holding company for several transportation providers that offer premium transportation services for customers throughout the United States. The consolidated group includes operations from Covenant Transport and Covenant Transport Solutions of Chattanooga, Tennessee; Southern Refrigerated Transport of Texarkana, Arkansas; and Star Transportation of Nashville, Tennessee.  In addition, Transport Enterprise Leasing, of Chattanooga, Tennessee is an affiliated company providing revenue equipment sales and leasing services to the trucking industry. The Company's Class A common stock is traded on the NASDAQ Global Select under the symbol, “CVTI”.

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Such statements may be identified by their use of terms or phrases such as "expects," "estimates," "projects," "believes," "anticipates," "plans," "intends," and similar terms and phrases.  Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.  In this press release, the statements relating to the estimated range of earnings per diluted share, categories of expenses that impacted expected results, and revenue and margin improvement are forward-looking statements.  Such items have not been subjected to all the review and audit procedures associated with the release of actual financial results and are premised on certain assumptions.  The following factors, among others, could cause actual results to differ materially from those in the forward-looking statements: estimates and adjusting entries made during the review and audit process; differences between estimates used in establishing and adjusting accruals and reserves and actual results; the completion of all review and audit procedures and preparation of financial statements in accordance with generally accepted accounting principles. Readers should review and consider these factors along with the various disclosures by the Company in its press releases, stockholder reports, and filings with the Securities and Exchange Commission.  We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information.
 

For further information contact:
Richard B. Cribbs, Senior Vice President and Chief Financial Officer                                                          (423) 463-3331
criric@covenanttransport.com

For copies of Company information contact:
Kim Perry, Administrative Assistant                                                                                                                 (423) 463-3357
perkim@covenanttransport.com

 
 


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