Edwards acquisition aids Knight's 3Q tally
Oct 20, 2005 9:00 AM, from staff and wire reports
In the 2005 third quarter, Knight Transportation Inc's total revenue increased 28% to $146.2 million from $114.1 million for the same quarter of 2004. Net income climbed 23% to $15.5 million from $12.6 million for the same period in 2004.
For the nine months ended Sept 30, 2005, total revenue rose 27% to $402.2 million from $315.6 million for the comparable period of 2004. Net income gained 30% to $43.2 million from $33.3 million for the corresponding period of 2004.
“We are encouraged by another quarter of record revenue and earnings," said Kevin P Knight, chairman and chief executive officer. "Revenue growth came from a combination of improved asset utilization, expansion of our fleet and network of service centers, and approximately 45 days of revenue from our August acquisition of Edwards Bros Inc, a refrigerated carrier based in Idaho Falls ID."
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