Old Dominion Freight Line Inc., Thomasville, N.C., has announced record financial results for the second quarter and six months ended June 30, 2004.

Revenue from operations increased 23.4% to $202,129,000 for the second quarter from $163,817,000 for the second quarter of 2003. Net income rose 60.7% to $10,461,000 from $6,509,000.
Old Dominion's operating ratio improved to 90.6% for the second quarter from 92.6% for the second quarter last year, the 11th consecutive comparable-quarter improvement. Revenue from operations increased 21.5% to $384,898,000 for the first six months of 2004 from $316,682,000 for the comparable period in 2003. Net income was $16,173,000, up 50.4% from $10,756,000, while Old Dominion's operating ratio improved to 92.3% from 93.4%.
The company's revenue growth for the second quarter reflected stronger volume than anticipated and improved pricing. LTL tons for the quarter increased 18.0% compared with the second quarter last year, while LTL shipments grew 12.9%. As a result, LTL weight per shipment increased 4.4%, and with a 2.4% increase in LTL revenue per hundredweight, LTL revenue per LTL shipment rose 7.0% for the quarter.
0 Comments