Old Dominion Reports Higher Revenues, Earnings
LTL carrier Old Dominion Freight Line Inc., Thomasville, N.C., has announced record financial results for the second quarter and six months ended June 30, 2005
LTL carrier Old Dominion Freight Line Inc., Thomasville, N.C., has announced record financial results for the second quarter and six months ended June 30, 2005.
Revenue from operations grew 30.8% to $264,346,000 for the quarter from $202,129,000 for the second quarter of 2004. Net income was $13,916,000 for the quarter, a 33.0% increase from $10,461,000 for the second quarter of 2004, and earnings per diluted share increased 30.2% to $0.56 from $0.43. Old Dominion’s operating ratio for the second quarter of 2005 improved to 90.4% from 90.6% for the second quarter of 2004.
For the first six months of 2005, revenue from operations increased 30.2% to $501,116,000 from $384,898,000 for the first six months of 2004. Net income rose 43.8% to $23,259,000 for the first half of 2005 from $16,173,000 for the comparable 2004 period, while earnings per diluted share increased 40.3% to $0.94 from $0.67. The operating ratio improved for the first six months of 2005 to 91.5% from 92.3% for the first half of 2004.
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