Swift Swings to First-Quarter Profit

Swift Transportation Co. reported a first-quarter profit compared with a loss a year ago, as its operating income more than doubled.

The carrier’s first-quarter profit was $3.2 million, or 2 cents per share, compared with a $53 million loss, or 88 cents per share, in the first quarter of 2010.

Its operating income was $46.7 million, compared with $23.2 million in the 2010 period.

Revenue rose 15.9% to $758.9 million, the truckload carrier said in a statement.

Swift’s stock began trading in December at $11 a share.

Swift is ranked No. 10 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.