Old Dominion Freight Line Inc. said its first-quarter revenue from operations increased 20.2% to $152,865,000 and its net income rose 89.4% to $4,247,000.
Old Dominion's operating ratio improved to 94.3% for the first quarter of 2003 from 96.0% for the first quarter of 2002.
For the first quarter, Old Dominion said its LTL shipments and LTL tonnage increased 12.6% and 10.7%, respectively, while LTL revenue per LTL hundredweight increased 10.3%.
Excluding the fuel surcharge, LTL revenue per LTL hundredweight increased 6.8%.
Company chairman Earl E. Congdon said the additional freight volume was obtained as a result of the bankruptcy and closure of Consolidated Freightways.
