Trade Resources Industry Views Knight Said Jan. 29 Its Fourth-Quarter Profit Increased 13.6% on Improved Freight Demand.

Knight Said Jan. 29 Its Fourth-Quarter Profit Increased 13.6% on Improved Freight Demand.

Knight Transportation Inc. said Jan. 29 its fourth-quarter profit increased 13.6% on improved freight demand.

Net income rose to $20.1 million, or 25 cents a share, from $17.7 million, or 22 cents, a year earlier. Revenue rose 3.1% to $250 million.

“We were pleased with our ability to grow revenue while simultaneously improving our operating margin. We believe this is a result of improved freight demand and meaningful progress on several internal initiatives focused on improving production, recruiting and developing driving associates, providing industry-leading service and intensifying our cost control efforts,” CEO Kevin Knight said in a statement. 

“Our revenue per tractor improved 3.2% year-over-year as a result of a 3.4% improvement in revenue per total mile, with a 1.3% decrease in our length of haul,” he said.

 

Source: http://www.ttnews.com/articles/basetemplate.aspx?storyid=34034&t=Knight-Fourth-Quarter-Income-Rises
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Knight Fourth-Quarter Income Rises
Topics: Transportation