Covenant net income rises

Covenant Transport Inc. said that its net income increased 438% to $3 million from $554,000 in the second quarter of 2001 despite a drop in freight revenue. "Our results for the quarter are beginning to show the effects of a disciplined approach towards achieving our objective of returning profitability to the levels that we exhibited during the mid-to-late 1990s," said president & CEO David R. Parker.

Tim Parry

July 23, 2002

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Covenant Transport Inc. said that its net income increased 438% to $3 million from $554,000 in the second quarter of 2001 despite a drop in freight revenue.

"Our results for the quarter are beginning to show the effects of a disciplined approach towards achieving our objective of returning profitability to the levels that we exhibited during the mid-to-late 1990s," said president & CEO David R. Parker.

For the quarter, freight revenue, before fuel and accessorial surcharges, decreased 2% to $138.8 million from $141.7 million in the second quarter of 2001.