Kenan Experiences Steady Growth

May 2, 2000

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Kenan Transport Co., Chapel Hill, NC, reported solid results for the first quarter of 2000. Revenue was $38.3 million compared to $34 million for the first quarter of 1999. Net income was $944,000 compared to $1.3 million in 1999.
Revenue increased 13% in the quarter as the company continued to experience growth with existing customers and added new customers. Operating costs were higher due to higher fuel
prices and enhancements made to driver pay and benefit programs.

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