Old Dominion sees significant growth

Old Dominion Freight Line Inc. said today that its third quarter and year-to-date revenue from operations and net income grew when compared to the same periods last year. "We are pleased that our third-quarter operating results have continued at the high end of our original guidance, that was established at the beginning of the year," said chairman & CEO Earl E. Congdon. For the quarter, the carrier's revenue from operations increased 18.0% to $176,873,000 and net income grew 42.5% to $9,116,000. For the first nine months of 2003, revenue from operations increased 18.4% to $493,555,000 and net income increased 52.9% to $19,872,000.Congdon added that the carrier's operating ratio improved to 92.4% for the latest nine months, from 93.8% for the first nine months of 2002.

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