Knight Transportation saw little change in its income and revenue from the second quarter of last year
, which the company attributes to its flexible business and ability to adjust and adapt to market conditions. Operating income amounted to $20.8 million, an increase of 0.3 percent from $20.7 million during the second quarter of 2008.
The company experienced a slight decline in revenue to $144.3 million, a 6.8 percent slip from 2008's $154.8 million. Net income fell slightly to $12.6 million from $12.7 million. Total revenue was down 21.4 percent to $162.1 million from $206.1 million during the same quarter of 2008. The company blames decreased fuel surcharge revenue.
"Although the challenging freight environment continued in the second quarter, we did experience an increase in seasonal demand as the quarter progressed," said Kevin Knight, chairman and CEO. "Our multiple-truckload service offerings continue to enable us to grow our market share and increase our loads hauled which were up 5.5 percent, year-over-year."
"Our plan during this environment continues to be to provide high levels of localized service through our network of service centers and branches, to ratchet up our already intense focus on controlling costs, and to evaluate strategic opportunities that can create value for our stakeholders without undue risk," Knight said.
, which the company attributes to its flexible business and ability to adjust and adapt to market conditions. Operating income amounted to $20.8 million, an increase of 0.3 percent from $20.7 million during the second quarter of 2008.
The company experienced a slight decline in revenue to $144.3 million, a 6.8 percent slip from 2008's $154.8 million. Net income fell slightly to $12.6 million from $12.7 million. Total revenue was down 21.4 percent to $162.1 million from $206.1 million during the same quarter of 2008. The company blames decreased fuel surcharge revenue.
"Although the challenging freight environment continued in the second quarter, we did experience an increase in seasonal demand as the quarter progressed," said Kevin Knight, chairman and CEO. "Our multiple-truckload service offerings continue to enable us to grow our market share and increase our loads hauled which were up 5.5 percent, year-over-year."
"Our plan during this environment continues to be to provide high levels of localized service through our network of service centers and branches, to ratchet up our already intense focus on controlling costs, and to evaluate strategic opportunities that can create value for our stakeholders without undue risk," Knight said.
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