Knight announces record 2Q revenue, net income

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Knight Transportation announced Wednesday, July 19, that total second-quarter revenue increased 23.8 percent, to a record $165.8 million from $133.9 million for the same quarter of 2005. Revenue, before fuel surcharges, increased 17.2 percent, to $140.4 million from $119.7 million for the same quarter of 2005. Net income increased 21.2 percent, to a record $18.1 million from $15 million for the same period of 2005.

Year-to-date, total revenue increased 23 percent, to $314.8 million from $256.1 million for the same period of 2005. Revenue, before fuel surcharges, increased 16.9 percent, to $269.7 million from $230.8 million for the same period of 2005. Net income increased 22.6 percent, to $34.0 million from $27.7 million for the same period of 2005.

“This quarter represented the 46th consecutive quarter, since going public, that Knight Transportation generated higher year-over-year operating income,” said Kevin P. Knight, chairman and chief executive officer of Phoenix-based Knight. “Revenue growth continued during the quarter and was driven by a combination of fleet expansion and increased revenue per mile. In the quarter, we opened two new dry van truckload service centers, Minneapolis and Tulsa (Okla.), in addition to a new brokerage service center in Chicago.”