Old Dominion expects to outperform in second quarter

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Old Dominion Freight Line said that based on its preliminary financial results from the second quarter ended June 30, its earnings per diluted share would be in the range of 62 to 64 cents – well ahead of the consensus analyst estimate of 51 cents. “Contributing to the growth in the Company’s second-quarter earnings were an increase in tonnage of 10.2 percent compared with the second quarter of 2007, a more stable pricing environment and improved productivity,” the Thomasville, N.C.-based LTL carrier announced.

Old Dominion also increased its guidance for all of 2008 to a range of $1.90 to $1.95 from the current range of $1.85 to $1.90. The company will discuss its financial results in more detail in its second-quarter earnings release and conference call scheduled for July 24.