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Covenant Transportation Group turned around a first-quarter loss and posted a second quarter profit, though smaller than a year ago, the truckload carrier said.

Covenant Transportation Group reported a first-quarter loss of $2.5 million, or 17 cents per share, compared with a loss of $2.2 million, or 15 cents, a year earlier.

Covenant Transportation Group reported a fourth-quarter profit of  $700,000, or 5 cents per share, compared with a loss of $2.7 million, or 19 cents, a year earlier.

Covenant Transportation Group said it will report a fourth-quarter 2010 profit of 3 to 7 cents per share, topping its performance in the year-ago quarter.

Covenant Transportation Group reported its second consecutive quarterly profit in almost three years, posting its best back-to-back quarters since the last two quarters of 2005.

Covenant Transportation Group said late Wednesday it turned a profit in the second quarter, posting its best performance in several years.

Covenant Transportation Group said Thursday it expects to report a second-quarter profit of 12 to 20 cents per share.

Covenant Transportation Group’s first-quarter loss narrowed from a year ago to $2.2 million, or 15 cents a share, from a loss of $5.5 million, or 39 cents, a year ago.