Truckload carrier Swift Transportation Co. Inc., Phoenix, Ariz., reported revenues for the second quarter of 2005 increased 15.5% to $798.3 million compared with $691.0 million for the corresponding quarter of 2004.
However, net earnings were $29.8 million or 40 cents per share for the second quarter of 2005, compared to $34.6 million or 43 cents per share for the second quarter of 2004. The second quarter of 2005 includes $89.4 million of fuel surcharge revenue versus $40.6 million in 2004. Excluding this fuel surcharge revenue, revenues increased 9.0%.
Jerry Moyes, chairman and chief executive officer, said, "Freight demand in the second quarter of this year was lower relative to a very strong second quarter of 2004. Volumes strengthened in June but are still below 2004 levels."
However, net earnings were $29.8 million or 40 cents per share for the second quarter of 2005, compared to $34.6 million or 43 cents per share for the second quarter of 2004. The second quarter of 2005 includes $89.4 million of fuel surcharge revenue versus $40.6 million in 2004. Excluding this fuel surcharge revenue, revenues increased 9.0%.
Jerry Moyes, chairman and chief executive officer, said, "Freight demand in the second quarter of this year was lower relative to a very strong second quarter of 2004. Volumes strengthened in June but are still below 2004 levels."
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