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Note 1 - Basis of Presentation
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6 Months Ended |
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Dec. 31, 2011
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| Note 1 - Basis of Presentation Disclosure | |
| Note 1 - Basis of Presentation |
1.
Basis of Presentation
References
in this Report on Form 10-Q to “we,” “us,”
“our,” “Celadon,” or 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 condensed
consolidated unaudited 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, 2011.
The
preparation of the financial statements in conformity with 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.
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