Knight Transportation decreases earnings in 2016

The truckload transportation and logistics provider’s earnings per share fell short of analyst expectations in the fourth quarter of 2016.    Knight Transportation reported a net income of $22.2 million on revenues of $289.1 million for the fourth quarter of 2016, year-over-year declines of 24.2 percent and 0.6 percent, respectively, according to the company’s latest financial statements.
   The Phoenix-based truckload transportation and logistics provider reported earnings of $0.27 per share for the quarter, which totaled $0.29 per share when adjusted for non-recurring costs.
   Analysts polled by Thompson Reuters projected Knight’s earnings per share for the fourth quarter would total $0.30 on revenues of $285.9 million.
   For the full year of 2016, Knight reported a net income of $93.9 million on revenues of $1.1 billion, year-over-year declines of 19.6 percent and 5.5 percent, respectively.