Truckload carrier Knight Transportation said its net income shot up 27.5% to $11.4 million on 22.5% higher revenues of $100.2 million in the second quarter. Net income for the first half of 2004 increased 29.3% to $20.7 million on 22.6% higher revenues of $155.3 million compared to the same periods last year.
“The revenue side of our business continues to more than offset the cost pressures facing our industry,” said chairman & CEO Kevin Knight, referencing the record-high diesel fuel prices plaguing the trucking industry.
“We improved our loaded revenue per mile by almost 6% while increasing our length of haul by over 5%,” he said. “We were successful in improving our operating ratio to 81.1% in spite of the highest fuel prices in our history coupled with even higher fuel prices in the West compared to the national average.”