Covenant Transport Inc., Chattanooga, Tenn., announced financial and operating results for the quarter and nine month period ended Sept. 30, 2004.

According to the company, net income increased 17%, to $4.7 million from $4.1 million in 2003, and diluted earnings per share increased 14%, to $.32 from $.28 in 2003.
Total revenue for the quarter increased 4%, to $151.9 million from $146.5 million in 2003. Freight revenue, before fuel surcharges, remained essentially constant at $140.6 million in the 2004 quarter and $140.3 million in the 2003 quarter. The company measures freight revenue before fuel surcharges because management believes that fuel surcharges tend to be a volatile source of revenue and that removal of such surcharges affords a more consistent basis for comparing results of operations from period to period.