Overnite posts strong profits
LTL conglomerate Overnite Holding reported a 16.2% increase in net income to $55.1 million on revenues of $1.33 billion for 2002, compared to net income of $47.4 million on revenues of $1.27 billion in 2001. Those figures also include pro forma results factored in from the acquisition of LTL carrier Motor Cargo Industries in November 2001 as if the acquisition had been effective on January 1, 2001.