Swift Transportation Co. Inc. said revenues for the fourth quarter of 2003 increased 13.8% to $637.6 million, compared with $560.1 million for the corresponding quarter of 2002.
For the year ended Dec. 31, 2003, the company's revenues were $2.4 billion, compared to $2.1 billion in 2002.
Jerry Moyes, chairman and chief executive officer, said, "We grew our net earnings by 65% in the fourth quarter of 2003 compared to 2002 while increasing revenues by 14% over the same period. We will continue to work with our customers in addressing price adjustments on a lane basis. In addition, we are committed to attacking our operating costs with a purpose of returning to our historical operating ratio of 90% or less and restoring our double-digit return on investment to our shareholders.
"For 2004, we anticipate fleet growth of 4% to 5% and will continue to look at acquisitions if the target meets our profitability and return on investment goals and can easily be integrated."
For the year ended Dec. 31, 2003, the company's revenues were $2.4 billion, compared to $2.1 billion in 2002.
Jerry Moyes, chairman and chief executive officer, said, "We grew our net earnings by 65% in the fourth quarter of 2003 compared to 2002 while increasing revenues by 14% over the same period. We will continue to work with our customers in addressing price adjustments on a lane basis. In addition, we are committed to attacking our operating costs with a purpose of returning to our historical operating ratio of 90% or less and restoring our double-digit return on investment to our shareholders.
"For 2004, we anticipate fleet growth of 4% to 5% and will continue to look at acquisitions if the target meets our profitability and return on investment goals and can easily be integrated."
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