Knight Transportation Reports Revenue and Net Income for the Third Quarter Ended September 30, 2009

Knight Transportation (NYSE: KNX - News), one of North America’s largest truckload carriers, reported revenue and earnings for the third quarter ended September 30, 2009. Highlights included:
•Revenue before fuel surcharge of $150.2 million, a decrease of 3.6% compared with the third quarter of 2008.
•Diluted earnings per share decreased 15.6% to $0.16 from $0.19 in the third quarter of 2008.
•Net income of $13.1 million, a decrease of 18.1% compared with the third quarter of 2008.
“On a consolidated basis, Knight Transportation produced an operating ratio (operating expenses, net of fuel surcharge, as a percentage of revenue before fuel surcharge) of 86.2% in the third quarter of this year compared to 83.2% in the same period last year. Knight Dry Van generated an operating ratio of 85.6%. Knight Refrigerated generated an operating ratio of 86.7%. Knight Brokerage generated an operating ratio of 93.3%. We have made the decision to maintain our fleet size for longer term strategy rather than short term benefit that would have likely improved our near-term operating ratio.
Knight Transportation Reports Revenue and Net Income for the Third Quarter Ended September 30, 2009 - Yahoo! Finance

Some Trucking Companies also had a BIG bounce