U.S. Xpress scores big in 2Q

Tennessee-based U.S. Xpress Enterprises, Inc., in its operating revenue and earnings statement for the second quarter, reported that operating revenue -- excluding the effect of fuel surcharges -- increased 15.1% to $257.4 million, compared with $223.6 million for the second quarter of 2003.

Total operating revenue increased 16.5% to $270.3 million, compared with $231.9 million for the second quarter of 2003.

Net income for the second quarter increased 91.4% to $4.2 million, or $0.30 per diluted share.

In the statement, Patrick Quinn, co-chairman, noted that, “The significant improvement in our results reflects the success of our efforts in recent years to transition our truckload operations into higher return businesses, a favorable freight environment and more disciplined rate and lane selection. We have now posted year-over-year improvement in earnings for ten consecutive quarters.”

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