Old Dominion Freight Revenue and Income Up Sharply

Old Dominion Freight Line, Inc. (NASDAQ: ODFL) has announced during the fourth quarter, revenue increased 21.7% to $721.0 million from $592.5 million for the fourth quarter of 2013. Net income rose 48.2% to $69.9 million for the fourth quarter of 2014 from $47.2 million for the comparable quarter in 2013.

Earnings per diluted share were $0.81 for the fourth quarter of 2014, an increase of 47.3% from $0.55 for the same prior-year quarter. The Company’s operating ratio improved to 84.4% for the fourth quarter of 2014 from 87.0% for the fourth quarter of 2013.

Revenue for 2014 increased 19.3% to $2.79 billion from $2.34 billion for 2013. Net income grew 29.8% for 2014 to $267.5 million from $206.1 million for 2013.

Commented David S. Congdon, President and Chief Executive Officer of Old Dominion, “The Company’s strong financial results for the quarter reflect improved freight density and yield. LTL tons per day increased 19.8% for the fourth quarter on a 17.1% increase in shipments and a 2.3% increase in weight per shipment.”

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