• Most Popular
  • Most Shared

UPDATE 1-Knight Transportation Q3 profit meets market

Wed Oct 21, 2009 5:08pm EDT

Stocks

   

* Q3 EPS $0.16

* Q3 revenue $173.1 mln, down 17 pct

* Says total loads hauled up 10 pct

Oct 21 (Reuters) - Truckload carrier Knight Transportation Inc (KNX.N) posted a quarterly profit that met estimates, but revenue came in ahead of Wall Street expectations as total loads hauled in the quarter increased 10 percent.

For the third quarter, net income was down 18 percent to $13.1 million, or 16 cents a share, compared with $16 million, or 19 cents a share, a year ago.

Revenue fell 17 percent to $173.1 million.

Analysts were expecting earnings of 16 cents a share on revenue of $164.6 million, according to Thomson Reuters I/B/E/S.

Knight Transportation said it saw sequential improvement in freight demand and that it does not plan to cut its fleet size.

Shares of the company were up 1 percent at $18 after the bell. They closed at $17.79 Wednesday on the New York Stock Exchange. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Unnikrishnan Nair) ((ananthalakshmi.as@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: ananthalakshmi.as.reuters.com@reuters.net))



More from Reuters

An image of U.S. President Barack Obama is seen in an exhibition at the Nobel Peace Centre in Oslo December 9, 2009. Two leading international human rights groups gave Obama mixed reviews on his human rights record on Wednesday, a day before he is slated to accept the 2009 Nobel Peace Prize in Oslo. Human Rights Watch and Amnesty International urged Obama to use his acceptance speech on Thursday to renew U.S. leadership on human rights after its position was undermined by abuses committed during the Bush administration's war on terrorism. REUTERS/Chris Helgren

Copenhagen: What of Obama?

President Barack Obama’s decision to attend the climate talks in Copenhagen is said to show the White House is serious about pursuing a deal to curb global warming. What should Obama commit to on climate change? Share your views.  Full Article | Related Story 

    Climate Conference
    A crown in a file photo. REUTERS/File
    Special Report:

    No longer king of the hill

    When times were good, hedge fund managers could do what they wanted and people still lined up for a piece of the action. What will the post-crash, post-Madoff, post-Galleon hedge fund universe look like?  Full Article 

    Hedge Funds

    "There will be times when nations...will find the use of force not only necessary but morally justified."

    President Barack Obama,
    during his acceptance speech for the Nobel Peace Prize
      Barack Obama