Swift nearly doubles 1Q net income

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Swift Transportation on Thursday, April 19, said its net income for the first quarter of 2012 was $6.2 million compared with $3.2 million in the first quarter of 2011. Operating income was $57.9 million compared with $46.7 million, while revenue rose 9 percent to $826.9 million.

The Phoenix-based company said a planned first-quarter temporary fleet reduction of 4 percent improved both deadhead and utilization. Swift also credited a 3.5 percent pricing improvement.