Swift sees 3Q growth
Oct 17, 2003 12:00 PM
Truckload carrier Swift Transportation Co. Inc. announced that its revenues both for the 3Q and the year rose. Swift's 3Q revenues increased 16.2%, including approximately 6% from the acquisition of Merit Distribution Services Inc., to $623.9 million vs. the same period last year. It had net earnings of $24.6 million compared to $16.3 million for the third quarter of 2002.For the nine months of the year, the company's revenues increased 14.2%, including approximately 2% from the acquisition of Merit Distribution Services Inc., to $1.760 billion from $1.541 billion in 2002.
Net earnings for the first nine months were $52.6 million to $43.4 million in 2002.
Chairman & CEO Jerry Moyes said Swift will continue to focus on increasing its profitability by allocating equipment to those customers which enable it to maximize its return on investment, as well as continuing to examine areas for improvement in its cost structure.
