Knight Rides Onto the Big Board

Knight Transportation Inc., Phoenix, Ariz., announced Friday that its common stock has been accepted for listing on the New York Stock Exchange.

The company anticipates its shares will begin trading on the NYSE on Dec. 30, 2004, under the symbol KNX. Until that time, the company's shares will continue trading on the Nasdaq National Market under the symbol KNGT.
Knight joins only a handful of motor carriers -- CNF, corporate parent of the Con-Way companies, Ryder Systems, and relocation company SIRVA Inc. -- on Wall Street’s Big Board. Most major, publicly traded motor carriers are listed on the NASDAQ.
Kevin P. Knight, chairman and chief executive officer of Knight Transportation, said, "We have been very pleased with the growth and development of Knight Transportation from a single operations center in Phoenix, Ariz., to 17 operations centers throughout the country. In the 10 years from the year of our initial public offering, 1994, through 2003, our revenue before fuel surcharges grew from $37.5 million to $326.9 million, a compounded annual growth rate of over 27%. During the same period, our earnings grew from $4.1 million to $35.5 million, also a compounded annual growth rate of over 27%. During our 10 years as a public company, we were one of only two companies to be named to Forbes Magazine's list of the 200 best small companies in America for all 10 years.”
In its press release, Knight describes itself as a short to medium haul, truckload carrier headquartered in Phoenix. The company serves most of the United States through its regional operations in Phoenix; Salt Lake City; Portland, Ore.; Indianapolis; Katy, Texas; Gulfport, Miss.; Charlotte, N.C.; Memphis, Tenn.; Kansas City, Kan.; Atlanta; Denver; Las Vegas; Carlisle, Pa.; and Lakeland, Fla.