“Old Dominion’s operating ratio for the fourth quarter of 2011 improved 360 basis points from the fourth quarter of 2010 to an 86.9%. We also produced the best annual operating ratio in our Company’s history at 87.6%. This performance was driven primarily by operating leverage generated by the growth in tonnage and further improvement in our revenue per hundredweight. In addition, we improved the productivity of our linehaul, pickup and delivery and platform operations during the fourth quarter at a significantly stronger rate than what we achieved for the full year. Our industry-leading performance for on-time and claims-free service remained strong during the fourth quarter and has contributed significantly to our ability to expand our market share.”Capital expenditures for the fourth quarter were $40.3 million, bringing the total for the year to $250.2 million. These expenditures included the opening of the Canton, Ohio service center in October, bringing the total number of service centers in operation to 216 at year end. The Company also relocated and expanded four service centers during the fourth quarter. For 2012, capital expenditures are anticipated to range between $300 million to $350 million. This estimate includes $90 million to $120 million for real estate purchases and expansion projects at existing facilities, subject to the availability of suitable real estate and the timing of construction projects, $195 million to $210 million for the purchase of tractors, trailers and other equipment, and $15 million to $20 million for investments in technology.
Old Dominion Freight Line Reports Earnings Of $0.69 Per Diluted Share For The Fourth Quarter Of 2011
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