Tennessee-based U.S. Xpress Enterprises Inc. said revenue for the second quarter of 2006 increased 39.2 percent to $389.5 million compared with $279.9 million in the second quarter of 2005.
Net income for the second quarter increased to $5.7 million, or $0.37 per diluted share, compared with net income of $482,000, or $0.03 per diluted share in the prior year period.
For the six months ended June 30, 2006, revenue increased 25.5 percent to $689.2 million from $549.0 million in the prior-year period. For the first six months of 2006, the Company reported net income of $6.5 million, or $0.42 per diluted share, compared with a net loss (after the one-time charge) of $1.6 million, or $0.10 per diluted share, for the prior-year period. Before the charge, the company reported a net loss of $196,000, or $0.01 per diluted share, for the first six months of 2005.
During the second quarter, truckload revenue, excluding the effect of fuel surcharges, increased 38.4 percent to $307.9 million from $222.4 million a year ago.
Co-Chairman, Patrick Quinn, said, "We are pleased with the improvements realized in our U.S. Xpress truckload operations during the second quarter. The results demonstrate the progress we are making in improving the performance of our over-the-road and regional solo fleets as well as the benefits of a continued focus on growing our dedicated, expedited truck and rail services."
Net income for the second quarter increased to $5.7 million, or $0.37 per diluted share, compared with net income of $482,000, or $0.03 per diluted share in the prior year period.
For the six months ended June 30, 2006, revenue increased 25.5 percent to $689.2 million from $549.0 million in the prior-year period. For the first six months of 2006, the Company reported net income of $6.5 million, or $0.42 per diluted share, compared with a net loss (after the one-time charge) of $1.6 million, or $0.10 per diluted share, for the prior-year period. Before the charge, the company reported a net loss of $196,000, or $0.01 per diluted share, for the first six months of 2005.
During the second quarter, truckload revenue, excluding the effect of fuel surcharges, increased 38.4 percent to $307.9 million from $222.4 million a year ago.
Co-Chairman, Patrick Quinn, said, "We are pleased with the improvements realized in our U.S. Xpress truckload operations during the second quarter. The results demonstrate the progress we are making in improving the performance of our over-the-road and regional solo fleets as well as the benefits of a continued focus on growing our dedicated, expedited truck and rail services."
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