Old Dominion's 2012 Profit Rose 21.5 Percent

Trucking giant Old Dominion Freight Line reported its profit in the fourth quarter of 2012 was $39.5 million, compared with $39.9 million in the fourth quarter of 2011.

Quarterly revenue increased 8.7 percent to $527.3 million from $485.1 million in the fourth quarter of 2011.

For the full year of 2012, net income rose 21.5 percent from $139.5 million in 2011 to $169.5 million in 2012. Annual revenue increased 12.1 percent from $1.9 billion to $2.1 billion.

“While there continues to be uncertainty about the direction of the U.S. domestic economy for 2013, we are encouraged by our January results that included increases in revenue per day and weight per day above normal sequential trends,” said David S. Congdon, president and CEO, in a written statement. He added that Old Dominion is “poised for strong profitable growth in 2013.”