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Knight Transportation Reports Second Quarter 2013 Revenue And Earnings

Knight Transportation, Inc. (NYSE: KNX), one of North America’s largest and most diversified truckload transportation companies, today reported revenue and net income for the second quarter ended June 30, 2013.

Key financial highlights for the second quarter and first half of 2013 and 2012 were as follows:
     

Three Months Ended June 30,(dollars in thousands, except per share data)
     

Six Months Ended June 30,(dollars in thousands, except per share data)
2013     2012    

% Change
2013     2012    

% Change
Total revenue $ 244,783 $ 236,268

3.6%

 
$ 480,183 $ 455,800 5.3 %
Revenue, excluding trucking fuel surcharge $ 200,104 $ 188,838

6.0%

 
$ 389,704 $ 364,437 6.9 %
GAAP operating income $ 31,925 $ 32,103

-0.6%

 
$ 57,469 $ 51,937 10.7 %
Adjusted operating income NA NA NA $ 57,469 $

55,918

(1)
2.8 %
GAAP net income $ 18,939 $ 19,289

-1.8%

 
$ 34,122 $ 29,835 14.4 %
Adjusted net income NA NA NA $ 34,122 $

33,729

(1)
1.2 %
GAAP earnings per diluted share $ 0.24 $ 0.24

-2.1%

 
$ 0.43 $ 0.37 14.1 %
Adjusted earnings per diluted share NA NA NA $ 0.43 $

0.42

(1)
1.0 %
 

(1) The 1st quarter of 2012 included a $4.0 million non-cash charge ($3.9 million after tax) for stock option acceleration. See GAAP to Non-GAAP reconciliation schedule. GAAP and Non-GAAP measurements for 2013 are identical.
 

The company previously announced a quarterly cash dividend of $0.06 per share to shareholders of record on June 7, 2013, which was paid on June 28, 2013.

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