ODFL Posts Record Profits for 4Q, Year
Old Dominion Freight Line posted record revenue and earnings for both the fourth quarter and the full year, the less-than-truckload carrier said Thursday.
Fourth-quarter net income rose to $39.9 million, or 69 cents per share, from $22.1 million, or 39 cents, a year ago, the company said. Revenue rose 21.6% to $485 million.
For the year ODFL earned $139.5 million, or $2.44 per share, up from $75.7 million, or $1.35 cents, in 2010. Revenue climbed 27.1% to $1.88 billion.
The carrier saw a 9.8% increase in shipments and a 9.7% increase in tonnage from the previous fourth quarter, CEO David Congdon said in a statement.
Old Dominion Freight Line is ranked No. 18 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
