Revenue Down, Income Up At Cannon

November 16, 1999

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First fiscal quarter 2000 revenue at Cannon Express, Springdale, AR was down, but income rose. Operating revenue was $22.9 million, versus nearly $24.7 in the first fiscal quarter of 1999, while first quarter 2000 net income was more than $501,000, compared with nearly $62,000 in the first fiscal quarter of 1999.

The company continued to experience a shortage of qualified drivers during the quarter ended Sept. 30, 1999. The company is responding with a new program in which owner-operators may qualify to lease a truck and be paid a percentage of the company's revenue to operate it under a contract.

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