Knight Transportation Inc., a short- to medium-haul, dry van truckload carrier headquartered in Phoenix, Ariz., has announced financial results for the quarter and six months ended June 30, 2003.
For the quarter ended June 30, 2003, revenue, before fuel surcharge, increased 19.7% to $81,790,000 from $68,307,000 for the same quarter of 2002. For the six months ended June 30, 2003, revenue, before fuel surcharge, increased 19.3% to $155,341,000 from $130,197,000 for the same quarter of 2002.
For the quarter ended June 30, 2003, net income increased 33.5% to $8,950,000 from $6,704,000 for the same period of 2002. For the six months ended June 30, 2003, net income increased 30.7% to $16,027,000 from $12,258,000 for the same period of 2002.
Chairman and Chief Executive Officer Kevin P. Knight said, "Again we are pleased with the operations of our company. We posted an 81.7 operating ratio, which is our best second quarter operating ratio since 1998. During the quarter we benefited from an improvement in revenue per mile as compared to the same period last year. In addition we continued to emphasize disciplined cost management.
"From a fleet prospective, we expect to add approximately 150 to 175 tractors to our fleet during the second half of 2003," Knight said.
For the quarter ended June 30, 2003, revenue, before fuel surcharge, increased 19.7% to $81,790,000 from $68,307,000 for the same quarter of 2002. For the six months ended June 30, 2003, revenue, before fuel surcharge, increased 19.3% to $155,341,000 from $130,197,000 for the same quarter of 2002.
For the quarter ended June 30, 2003, net income increased 33.5% to $8,950,000 from $6,704,000 for the same period of 2002. For the six months ended June 30, 2003, net income increased 30.7% to $16,027,000 from $12,258,000 for the same period of 2002.
Chairman and Chief Executive Officer Kevin P. Knight said, "Again we are pleased with the operations of our company. We posted an 81.7 operating ratio, which is our best second quarter operating ratio since 1998. During the quarter we benefited from an improvement in revenue per mile as compared to the same period last year. In addition we continued to emphasize disciplined cost management.
"From a fleet prospective, we expect to add approximately 150 to 175 tractors to our fleet during the second half of 2003," Knight said.
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