Covenant numbers relatively flat

Covenant Transport Inc. said its first-quarter financial results were relatively flat compared to the same period last year. For the quarter, Covenant's revenue increased approximately 4% to $137.9 million. Freight revenue, before fuel and accessorial surcharges, decreased 1% to $128.0. Net income increased to $839,000 from a net loss of $1.7 million. "The positive news for the quarter was that revenue

April 25, 2003

Covenant Transport Inc. said its first-quarter financial results were relatively flat compared to the same period last year.

For the quarter, Covenant's revenue increased approximately 4% to $137.9 million. Freight revenue, before fuel and accessorial surcharges, decreased 1% to $128.0.

Net income increased to $839,000 from a net loss of $1.7 million.

"The positive news for the quarter was that revenue per loaded mile, excluding fuel and accessorial surcharges, increased 2.5% despite a relatively weak freight environment," said president & CEO David R. Parker.