Knight records gains in revenue for 1Q

April 29, 2009
Knight Transportation, the Phoenix AZ-based truckload carrier, reported revenue and earnings for the first quarter ended March 31, 2009.

Knight Transportation, the Phoenix AZ-based truckload carrier, reported revenue and earnings for the first quarter ended March 31, 2009.

Operating income totaled $19.4 million in the quarter, a 3.9% increase year-over-year. Net income increased 2.9% to $11.7 million from $11.4 million for the same period of 2008.

The company previously announced a cash dividend of $.04 per share to shareholders of record March 6, 2009, which was paid March 27, 2009.

Kevin P Knight, chairman and chief executive officer, said, “During one of the most challenging first quarters that we can remember for the trucking industry, Knight grew operating income year-over-year, hauled more loads than the year-ago period, increased our financial strength, and improved our operations.

“We were pleased that our refrigerated truckload and brokerage businesses continued to complement our core dry van truckload business, while standing on their own from the standpoint of profitability and returns. Refrigerated, in particular, continued to show strong results in the quarter with year-over-year load growth of over 30 percent. Refrigerated and Brokerage, established in 2004 and 2005, respectively, reflect our strategy to bring complementary services to our customers that also bring operational and economic benefits to Knight. More recently we benefited from our newly established intermodal activities at the California ports. Our ongoing commitment to environmentally sound business practices and our intimate familiarity with the West Coast port markets leaves us well-positioned for continued growth in this segment.”

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Boost truck leasing profits with telematics insights! Reduce maintenance costs, improve uptime, and strengthen customer relationships. Learn how data drives success.
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...
Ready to boost fleet efficiency by up to 50%? Learn how AI-powered dispatch and next-gen tech are transforming TMS workflows, improving driver planning, and streamlining operations...
Gain a strategic edge in today’s evolving fleet landscape. Join us to explore how fuel cards are helping fleet managers cut costs, enhance control, and prepare for an electrified...