JOC Staff | Oct 25, 2012 9:12AM EDT
Truckload carrier Knight Transportation reported its profit in the third quarter was $16.58 million, remaining relatively stable with an increase of 0.1 percent from $16.56 million during the same period in 2011, despite the soft freight market and escalating fuel prices.
Profit in the first nine months of 2012 was $46.42 million, jumping 8.5 percent from $42.78 million last year.
Quarterly revenue was $237.93 million, increasing 4.8 percent year-over-year from $227.14 million. Revenue from January to September was $693.73 million, up 8.0 percent from $642.10 million in the same period in 2011.
The company was pleased with quarterly operating revenue results in port and rail services (14.7 percent increase) and dry van (4.0 percent increase), but refrigerated business (down 2.3 percent) was below expectations, Chairman and CEO Kevin P. Knight said.
