[Stay on top of transportation news: .]
Knight Reports Record Fourth-Quarter, ’06 Income, Revenue
Truckload carrier Knight Transportation said late Wednesday that its revenue and income for the fourth quarter and full-year 2006 reached records.
Fourth-quarter net income rose to $20.1 or 23 cents a share, from $18.5 million or 21 cents a year earlier. Revenue rose 6.3% to $174.9 million.For the full year, net income rose to $73 million from $61.7 million for 2005, while revenue jumped 17.2% to $664.4 million.The company’s revenue growth was “fueled by a combination of fleet expansion, increased revenue per mile, and our asset purchase of Roads West Transportation, during the fourth quarter,” Chairman and Chief Executive Officer Kevin Knight said in a statement.Knight is ranked No. 40 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.