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TRUCKING INDUSTRY NEWS * USA & CANADA - Second-Quarter Profit
* USA - Knight Reports Lower 2Q Earnings
USA -Transport Topics -23 July 2008: -- Truckload carrier Knight Transportation’s second-quarter profit fell to $12.7 million, or 15 cents a share, from $18.2 million, or 21 cents, a year ago... Revenue rose 14.4% to $206.1 million, the company said late Wednesday...
* USA - Con-way’s 2Q Income Gains
USA -Transport Topics -23 July 2008: -- Con-way Inc. said late Wednesday its second-quarter net income increased to $48.7 million, or $1.02 per share, from $46.4 million, or 96 cents, a year earlier... Revenue jumped 24.8% to $1.34 billion, the carrier said in a statement...
* USA - Arkansas Best’s 2Q Income Declines
ARK,USA -Transport Topics -23 July 2008: -- Arkansas Best Corp. said Wednesday its second-quarter profit fell 17% to $16.2 million, or 64 cents a share, from $19.6 million, or 78 cents, a year ago.. Revenue rose 7.5% to $498.5 million, ABF said in a statement...
* USA - Ryder Reports Mixed 2Q Earnings
USA -Transport Topics-23 July 2008: -- Ryder System Wednesday reported a second-quarter profit of $62.9 million, or $1.10 per share, compared with $65.1 million, or $1.07 per share, a year ago... Revenue was flat at $1.66 billion, the truck leasing and logistics firm said in a statement Ryder reduced the number of outstanding shares by buying some back from shareholders, which boosted the earnings per share versus last year... Fleet management segment revenue rose 16% to $1.2 billion, while fuel services revenue jumped 44%, due to higher fuel prices...
* USA - Heartland’s Income Dips; Carrier Plans Fleet Upgrade
USA -Transport Topics -22 July 2008: -- Heartland Express Tuesday reported a decline in its second-quarter profit but said it plans to begin a fleet upgrade in the third quarter in which it plans to buy 1,600 new trucks... Net income fell 13% to $17.2 million, or 18 cents a share, from $19.8 million, or 20 cents, a year ago. Revenue rose 10% to $164.6 million... Heartland also said it would begin a fleet upgrade this quarter, which will include the purchase of about 1,600 International ProStar tractors...
* Canada - Vitran Reports Lower 2Q Income
Toronto,ONT,CAN -Transport Topics -22 July 2008: -- Vitran Corp. said Wednesday its second-quarter profit fell 16% to $4.6 million, or 34 cents a share, from $5.5 million, or 41 cents, a year earlier... The Toronto-based trucking and transportation firm said the quarter’s revenue rose 15% to a record $196 million... Vitran has truckload, less-than-truckload and logistics operations in the United States and Canada...
* USA - Old Dominion’s 2Q Earnings Improve
USA -Transport Topics -24 July 2008: -- Old Dominion Freight Line said its second-quarter profit rose to $23.9 million, or 64 cents a share, from $22.5 million, or 60 cents, a year ago... Revenue rose 16.2% to $417.8 million, the less-than-truckload carrier said Thursday...
* USA - Marten’s Second-Quarter Income Dips
USA -Transport Topics -23 July 2008: -- Refrigerated truckload carrier Marten Transport’s second-quarter net income fell to $3.5 million, or 16 cents a share, from $4.3 million, or 20 cents, a year ago... Operating revenue from trucking and logistics operations rose 15.3% to $160 million, the company said in a statement late Tuesday...
* USA - Hub Group Reports Higher 2Q Earnings
USA -Transport Topics -24 July 2008: -- Third-party logistics company and freight broker Hub Group’s second-quarter net income rose to $15 million, or 40 cents a share, from $13.8 million, or 35 cents, a year ago... Revenue rose 22% to $490.9 million, the company said Thursday...
* USA - Indiana trucking company files bankruptcy, leaves bills behind
Arcadia,IN,USA -Land Line Magazine, by Charlie Morasch -July 23, 2008: -- ... According to court documents, Hoosier Tradewinds of Arcadia, IN, filed for Chapter 11 bankruptcy on July 10 in U.S. Bankruptcy Court in the Southern District of Indiana... The company estimated it owes money to anywhere between 200 to 999 creditors, and listed its assets within a range of $1 million and $10 million... One online publication at www.thedeal.com reported Hoosier Tradewinds and Jim Palmer Trucking may be just the start of “a wave” of trucking companies beginning to file bankruptcy, succumbing to high diesel prices and a bad economy...
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