J. B. Hunt Transport Services Inc. announced second quarter 2002 net earnings of $15.5 million, or diluted earnings per share of 40 cents, compared to earnings of $8.6 million, or 24 cents per diluted share in the same quarter last year.
Total operating revenue for the current quarter was $557 million, compared with $521 million during the second quarter of 2001. Revenues of the company's truck segment were essentially flat, while the intermodal segment revenue rose 10% over the comparable period of 2001. Dedicated segment revenue increased 12% during the second quarter.
Net revenue, excluding fuel surcharges, per tractor per week improved 3.2% over the second quarter of 2001 in spite of a decline in miles per tractor per week. Continuing slowness of the economy contributed to the decline in miles, particularly in April. However, utilization improved throughout the quarter and by June, miles per tractor per week was similar to June 2001 levels.
