Overnite Tallies Sizable Earnings in 2000

The first year of the 21st century apparently was very good to Overnite Transportation Co, despite being locked into a long-term strike with the International Brotherhood of Teamsters.

Richmond VA-based Overnite reported net income of $43.2 million on revenue of $1.114 billion in 2000, compared with net income of $28.5 million on revenue of $1.062 billion in 1999.

An LTL carrier and a subsidiary of Union Pacific Corp, Overnite said it concluded the year with an overall operating ratio of 95.2, and hit a new high of 98% on-time service performance for the fourth quarter of 2000.

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