This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Knight Transportation Reports Revenue And Net Income For The Second Quarter Ended June 30, 2012

Stocks in this article: KNX

The company previously announced a quarterly cash dividend of $0.06 per share to shareholders of record on June 1, 2012, paid on June 29, 2012.

Chairman and Chief Executive Officer, Kevin P. Knight, offered the following comments:

''In the second quarter of 2012 we experienced typical seasonal improvement in the freight environment. Supply and demand were relatively balanced and resulted in less spot pricing opportunities, as compared to the same period last year. Our asset-based businesses continued to grow market share while meaningfully improving operating margins. Our average revenue per total mile (excluding fuel surcharges) increased 2.1% in the second quarter when compared to the same period last year while increasing our length of haul and lowering our non-paid empty mile percentage. Average revenue per tractor (excluding fuel surcharges) declined slightly as higher rates were offset by lower utilization per truck as we continued to grow our fleet. Our net income of $19.3 million and earnings per diluted share of $0.24 represent the highest second quarter net income as well as the highest earnings per diluted share recorded in company history.''

The following chart reflects the year-over-year operating ratio comparison and revenue growth (excluding trucking fuel surcharge revenue) for each of our businesses for the second quarter of 2012 and 2011.


Operating ratios (1)


Revenue growth(excluding truckingfuel surcharge)

2012   2011
Dry van 80.6 % 83.8 % 3.1 %
Refrigerated 81.1 % 82.0 % 3.7 %
Port and Rail Services 86.8 % 88.1 % 21.2 %
Asset based operations 81.1 % 83.7 % 4.3 %
Brokerage 94.3 % 92.5 % -23.2 %
Intermodal 98.1 % 104.8 % 90.0 %
Other 98.0 % 96.4 % 34.2 %
Non-asset based operations 96.0 % 94.4 % -1.1 %
Consolidated 83.0 % 85.1 % 3.6 %

(1)Operating ratio is defined as total operating expenses, net of trucking fuel surcharge, as a percentage of revenue before fuel surcharge.


Kevin Knight further commented, ''We are pleased with the performance of our asset-based businesses. Most notably, our dry van business achieved an operating ratio improvement of 320 basis points on a year over year basis and our port and rail services business improved their operating ratio 740 basis points from the first quarter of 2012.

2 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs