Knight tallies revenue, earnings for 2008
Feb 2, 2009 11:11 AM
Knight Transportation, the Phoenix AZ-based truckload carrier, reported revenue and earnings for the fourth quarter and year ended December 31, 2008.
For the quarter, total revenue decreased 6.3% to $174.8 million from $186.5 million for the same quarter of 2007. Net income increased 16.8% to $16.1 million from $13.8 million for the same period of 2007.
Total revenue for the year rose 7.5% to $766.9 million from $713.6 million for the same period of 2007. Net income declined to $56.3 million from $63.1 million for the same period of 2007.
Kevin P. Knight, chairman and chief executive officer, said, "We were pleased that our refrigerated truckload business and our brokerage business (on highway and rail) continued to complement our core dry van truckload business, while standing on their own from the standpoint of profitability and returns. These businesses, established in 2004 and 2005, respectively, contributed meaningfully to our results and reflect our strategy to bring complementary services to our customers that also bring operational and economic benefits to Knight. We continue to explore additional opportunities to enhance our services to customers, including our recent drayage activities at the Southern California ports."
