The company reported record diluted earnings per share for the quarter ended Sept. 30 of $0.45. This represents an increase of 7% compared to last year's third quarter diluted earnings per share of $0.42.
Earnings per share for the third quarter of 2007 included a one-time $1.2 million tax benefit or $0.03 per share. Excluding this benefit, earnings per share increased 15% this quarter. Operating income for the third quarter was $27.3 million, a 10% increase versus operating income for the third quarter of 2007.
Revenue increased 23% to $514.2 million compared to $417.8 million in the third quarter of 2007. Third quarter intermodal revenue increased 22% to $369.7 million. The increase was attributable to a 9% volume increase and a 13% increase in pricing, related primarily to fuel.
Truck brokerage revenue was up 29% to $101.2 million this quarter. Third quarter logistics revenue increased 20% to $43.3 million. Gross margin increased by 10% or $5.7 million to $63.2 million compared to the third quarter of 2007.