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Knight Transportation Reports Fourth Quarter And Annual 2012 Revenue And Earnings

During the fourth quarter of 2012 we were successful in growing revenue in all parts of our business. Consolidated revenue grew 8.1% for the fourth quarter when compared to the fourth quarter of 2011. The environment in both 2012 and 2011 were similar in terms of growth. The economic environment continued in the lukewarm fashion we have become accustomed to. Thanks to the hard work and dedication of our employees, we were able to produce what we believe to be truckload industry leading revenue growth of 8.1% for the year, which led to 12.2% adjusted operating income growth and 15.5% adjusted earnings per diluted share growth.

The following chart reflects the year-over-year operating ratio comparison and revenue growth for our asset based businesses and our non-asset based businesses for the fourth quarter and full year of 2012 and 2011.

      Three Months Ended December 31,       Twelve Months Ended December 31,
Operating ratios (2)    


Operating ratios (2)    


2012     2011   2012     2011  
Asset based 83.8% 82.7% 5.7% 83.6% 84.6% 6.6%
Non-asset based 94.1% 91.7% 30.0% 94.7% 93.7% 22.2%
Consolidated 85.4% 83.8% 8.1% 85.1% 85.7% 8.1%

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

We continue to provide our customers with the truckload services their supply chains rely on. Our investment in providing multiple solutions that are executed with a high level of efficiency and effectiveness has led to, and will continue to lead to, additional revenue opportunities.

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