Knight Transportation Inc. announced its financial results for the quarter ended March 31, 2006 that showed total revenue increased 22.0 percent, to $149.0 million from $122.2 million for the same quarter of 2005.
Revenue, before fuel surcharge, increased 16.4 percent, to $129.3 million from $111.1 million for the same quarter of 2005. Net income increased 24.1 percent, to $15.8 million from $12.8 million for the same period of 2005. Net income per diluted share increased to $0.18 from $0.15 for same quarter 2005.
Chairman and Chief Executive Officer Kevin P. Knight said, “During the first quarter, our revenue growth was driven by a combination of fleet expansion and increased revenue per mile. We benefited from the opening of three new service centers and increasing business at our existing centers.
"For the 45th consecutive quarter since going public, Knight Transportation generated higher year-over-year operating income. Our operating ratio of 79.8 percent represented a 120 basis point improvement over the 2005 quarter, and was our best first quarter operating ratio since March of 1994. Our net income, as a percentage of revenue before fuel surcharge, was 12.2 percent, which represented the best first quarter in our history.”
Revenue, before fuel surcharge, increased 16.4 percent, to $129.3 million from $111.1 million for the same quarter of 2005. Net income increased 24.1 percent, to $15.8 million from $12.8 million for the same period of 2005. Net income per diluted share increased to $0.18 from $0.15 for same quarter 2005.
Chairman and Chief Executive Officer Kevin P. Knight said, “During the first quarter, our revenue growth was driven by a combination of fleet expansion and increased revenue per mile. We benefited from the opening of three new service centers and increasing business at our existing centers.
"For the 45th consecutive quarter since going public, Knight Transportation generated higher year-over-year operating income. Our operating ratio of 79.8 percent represented a 120 basis point improvement over the 2005 quarter, and was our best first quarter operating ratio since March of 1994. Our net income, as a percentage of revenue before fuel surcharge, was 12.2 percent, which represented the best first quarter in our history.”
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