Knight Profit Edges Downward in Second Quarter
July 24, 2013
Knight's non-asset service offerings saw revenue growth of 64%, says Kevin Knight, chairman and CEO.
Phoenix-based truckload and logistics services provider Knight Transportation reports profit in the second quarter of the year declined slightly, despite an uptick in revenue.
It had $244.8 million in revenue compared to $236.3 million from the same time a year ago, a 3.6% increase. However, net income fell 1.8% from $19.3 million to $18.9 million.
''We have continued to expand our market share in our wide range of truckload logistic services in a challenging operating and economic environment,” said Kevin Knight, chairman and CEO. “Our consolidated revenue, before trucking fuel surcharge, increased 6% on a year-over-year basis. Our non-asset service offerings lead the way with revenue growth of 64.2%, and now make up approximately 20% of our total revenue before trucking fuel surcharge.”
He said compared to the same quarter last year, revenue per loaded mile, net of fuel surcharge, increased just less than 1% while length of haul and miles per tractor were virtually flat.
Knight’s average tractor count for the quarter decreased by 107 trucks, year-over-year, to 3,963.
More details are available on the Knight Transportation website.