Swift reports 3Q income down, but revenues up

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Swift Transportation reported Tuesday, Oct. 25 it saw a 50 percent decrease in net income for the third quarter of 2005. The company had net earnings of $12.6 million, or 17 cents per share, for the third quarter of 2005, compared with $25.7 million, or 32 cents per share, during the same period last year.

Phoenix-based Swift also saw an 11.8 percent increase in revenues, from $727.3 million during the third quarter of 2004 to $812.9 million this quarter. Net earnings for the nine months ended Sept. 30 were $61.9 million, or 84 cents per share, versus $66.7 million, or 81 cents per share, for the third quarter of 2004.

Swift’s trucking subsidiary operates the largest fleet of truckload carrier equipment in the United States.