Truckload carrier Landair Corp. watched its net income jump 20% in the second quarter to $1.6 million, up from $1.3 million in the same period last year. Operating revenue decreased by $697,000 to $26.4 million for the second quarter, compared with $27.1 million in the same period in 2001.
For the first six months of 2002, Landair said its net income rose 16% to $2.7 million, compared to $2.3 million in the same period last year. The improvement in net income was achieved on lower revenue, which decreased by $4.1 million to $52 million in the forst six months of 2002, compared with $56.1 million for the same period in 2001.
"The results for the first half of 2002 reflect our continued efforts to enhance our operations through cost reductions and increased focus on operating efficiency," said Landair president & COO John Tweed. "However, we continue to experience the impact of the economy on our customers and their demand for transportation services. We expect to continue to be challenged by our stated strategy of growing our business."