This Day On The Street
Continue to site
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

Knight Transportation Reports Fourth Quarter And Annual 2012 Revenue And Earnings

The DOE national average diesel fuel price increased 3.8% when compared to the fourth quarter last year. We continue our work towards cost effective, industry leading fuel economy while at the same time meaningfully contributing to environmental improvements.

The driver market remains challenging, yet we are succeeding in attracting and retaining high performing driving associates. We continue to benefit by leveraging our model and the advantages it provides us with our driving associates. As a result, our driver turnover has trended favorably and is well below what we understand to be the industry average.

In July of 2012, Congress passed a bill which included a requirement that the Federal Motor Carrier Safety Administration (FMCSA) issue a rule mandating that all motor carriers engaged in interstate commerce must use electronic on-board recorders (EOBRs) to monitor compliance with hours-of-service regulations. All trucking companies will be required to adopt EOBRs by no later than July 2015. Our entire tractor fleet has been fully equipped with EOBRs for over two years. We believe this mandate will allow the carriers that have already adopted EOBRs to be more competitive in recruiting and retaining driving associates.

Our average tractor count for the quarter increased 5.4%. We invested $34.9 million of net capital expenditures in the fourth quarter, as our tractor fleet remains one of the most modern fleets in the industry with an average age of 1.9 years. Included in the fourth quarter net capital expenditures is a real estate investment in a property in Phoenix, Arizona that will serve as our headquarters. Our gain on sale decreased from $2.5 million in the fourth quarter of 2011 to $2.0 million in the fourth quarter of 2012, as the used equipment market was less robust.

We have returned $155.2 million to our shareholders in the form of quarterly dividends and stock repurchases over the twenty-four-month period ending December 31, 2012. We ended the quarter with $5.7 million of cash, $80.0 million of borrowing under our unsecured revolving credit agreement, and $490.2 million of shareholders' equity.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs