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MARTEN TRANSPORT ANNOUNCES THIRD QUARTER RESULTS Operating revenue improves 16.3 % and net income improves 17.9 % over 2020 quarter MONDOVI , Wis . , October 19 , 2021 ( GLOBE NEWSWIRE ) -- Marten Transport , Ltd. ( Nasdaq / GS : MRTN ) today reported a 17.9 % improvement in net income to $ 21.3 million , or 26 cents per diluted share , for the third quarter ended September 30 , 2021 , from $ 18.0 million , or 22 cents per diluted share , for the third quarter of 2020. For the first nine months of 2021 , net income improved 21.6 % to $ 60.7 million , or 73 cents per diluted share , from $ 49.9 million , or 60 cents per diluted share , for the first nine months of 2020 . Operating Results Comparison Percentage Increase Three Months Ended September 30 , Percentage Increase Percentage Increase Percentage Increase Nine Months Year Ended September 30 , Ended December 31 , Year Ended December 31 , 2021 vs. 2020 2021 vs. 2020 2020 vs. 2019 2019 vs. 2018 16.3 % 9.2 % 3.7 % Operating revenue 7.1 % Operating revenue , net of fuel surcharges 12.8 % 6.8 % 6.8 % 8.6 % Operating income 16.8 % 19.7 % 21.9 % 8.7 % Net income 17.9 % 21.6 % 13.8 % 11.0 % Operating revenue improved 16.3 % to a record $ 251.3 million for the third quarter of 2021 from $ 216.0 million for the third quarter of 2020 , and improved 9.2 % to $ 706.8 million for the first nine months of 2021 from $ 647.0 million for the first nine months of 2020. Excluding fuel surcharges , operating revenue improved 12.8 % to $ 221.2 million for the 2021 quarter from $ 196.1 million for the 2020 quarter , and improved 6.8 % to $ 623.0 million for the first nine months of 2021 from $ 583.6 million for the first nine months of 2020. Fuel surcharge revenue increased to $ 30.1 million for the 2021 quarter from $ 19.9 million for the 2020 quarter , and increased to $ 83.7 million for the first nine months of 2021 from $ 63.5 million for the first nine months of 2020 due to significantly higher fuel prices . Operating income improved 16.8 % to $ 28.5 million for the third quarter of 2021 from $ 24.4 million for the third quarter of 2020. Operating income improved 19.7 % to $ 81.0 million for the first nine months of 2021 from $ 67.7 million for the first nine months of 2020 . Operating expenses as a percentage of operating revenue were 88.7 % for each of the third quarters of 2021 and 2020. Operating expenses as a percentage of operating revenue , with both amounts net of fuel surcharges , improved to 87.1 % for the third quarter of 2021 from 87.6 % for the third quarter of 2020 . Operating expenses as a percentage of operating revenue improved to 88.5 % for the first nine months of 2021 from 89.5 % for the first nine months of 2020. Operating expenses as a percentage of operating revenue , with both amounts net of fuel surcharges , improved to 87.0 % from 88.4 % .