Overnite sees gains
Overnite Holding Inc. reported second-quarter operating income of $21.0 million on $372.0 million in revenue, a 15% gain compared to the $18.2 million of operating income on $337.1 million of revenue reported for the same period last year.
Overnite's operating income for the first half of the year was $33.6 million on revenue of $713.2 million. Both figures represented the best six-month performance since 1994.
Operating ratio for the second quarter was 94.4 as compared to 94.6 for the same period last year. For the first six months of 2003, the operating ratio was 95.3, a three-tenths of a percentage point improvement over the comparable period last year.