Revenue Up, Profit Down for Swift
Swift Transportation Co. Inc. reported 1Q revenues increased 12.9% to $422.4 million, while net earnings decreased 28.1% to $6.4 million. The decrease in profits is consistent with Swift’s March 15 announcement that bad weather, early retirement changes, lack of driver availability, and fuel cost were going cut into the company’s bottom line. Of the 12.9% revenue increase, 7% came from the acquisition