Skip to content

Knight Transportation’s 2Q Income Improves

 Updated:
7/27/2011 5:00:00 PM

Company Cites Concerns on Continued High Fuel Costs

Knight Transportation said late Wednesday its second-quarter profit rose from a year ago on stronger truckload markets and improvement in its brokerage business.

Net income rose to $16.4 million, or 20 cents a share, from $15.8 million, or 19 cents, a year ago. Revenue rose 23.2% to $228.5 million.

Despite the improved results, escalating fuel prices continue to negatively impact operating results, Knight said in a statement.

The company â€œexperienced strength in many of [its] truckload marketsâ€� and was â€œespecially pleased with the revenue increase in our brokerage business,â€� Chairman and CEO Kevin Knight said.

“Driver availability remains tight across the industry,� he said, but added, “We feel well-positioned to source and develop high quality drivers. Our recruiting effort is performing ahead of last year.�

Phoenix-based Knight Transportation is ranked No. 31 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.




© 2010, Transport Topics Publishing Group. All rights reserved.

RELATED ARTICLES

Freight Tonnage Jumps 6.8% in June (8/1/2011 4:00:00 AM)
Diesel Fuel Price Average Reaches $3.949 After Third Straight Increase (8/1/2011 1:00:00 AM)
Knight Transportation’s 2Q Income Improves (7/27/2011 5:00:00 PM)
California Port Terminal Fee to Rise 20% (6/23/2011 10:45:00 AM)
iTECH: Cracking Down on Fuel Card Fraud (6/20/2011 9:00:00 AM)
Low Rolling Resistance Tires Gain Traction With Carriers Seeking to Save Fuel, Money (6/20/2011 3:15:00 AM)
 

LATEST NEWS


Click Here!

Emil Estafanous, CPA, CFF, CGMA