U.S. Xpress Enterprises Inc., Chattanooga, Tenn., has reported higher operating revenues and earnings for the fourth quarter.

Revenues increased 4.4% to $239.6 million, compared with $229.4 million in the fourth quarter of 2002. For the year ended Dec. 31, 2003, revenues increased 7.9% to $930.5 million compared with $862.3 million in 2002.
Net income for the fourth quarter of 2003 was $2.6 million, compared with net income (before a charge of $1.7 million related to settlement of litigation matter) of $1.4 million in the fourth quarter of 2002. For the year, net income was $7.6 million, compared with net income of $3.2 million in 2002. Net income in 2002 after the charges for the litigation settlement and the early extinguishment of debt was $1.1 million.
Co-chairman Pat Quinn said, "Regional and dedicated fleets grew from approximately 19% of our fleet in the fourth quarter of 2002 to over 30% in the fourth quarter of 2003 with a corresponding reduction in the medium to long haul fleet. The regional and dedicated fleets tend to have lower miles per trip, a higher rate per loaded mile and lower miles per truck which has impacted the comparative operating statistics reported in the accompanying financial results."