Covenant Transport's revenue rises in 3Q
Oct 24, 2003 12:00 PM, from staff and wire reportsCovenant Transport Inc, the Chattanooga TN-based truckload carrier, announced financial and operating results for the third quarter ended Sept 30, 2003.
For the quarter, total revenue increased 3.7% to $146.5 million from $141.2 million for the same quarter of 2002. Net income advanced 12.1% to $4.1 million from $3.6 million for the same quarter of 2002.
For the nine months ended Sept 30, 2003, total revenue climbed 3.0% to $430.3 million from $417.8 million for the same period of 2002. Net income surged 63.5% to $8.1 million from $4.9 million for the same period of 2002.
The company said that for all of 2003, it expects to purchase or lease about 1,600 tractors and 2,900 trailers and trade or sell 1,400 tractors and 1,800 trailers.