• ITVI.USA
    15,999.700
    -30.820
    -0.2%
  • OTLT.USA
    2.805
    -0.004
    -0.1%
  • OTRI.USA
    22.190
    -0.030
    -0.1%
  • OTVI.USA
    15,985.320
    -31.230
    -0.2%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,999.700
    -30.820
    -0.2%
  • OTLT.USA
    2.805
    -0.004
    -0.1%
  • OTRI.USA
    22.190
    -0.030
    -0.1%
  • OTVI.USA
    15,985.320
    -31.230
    -0.2%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
American Shipper

Old Dominion grows in 1Q

   Old Dominion generated $532.6 million in revenue during the first quarter, a 7.1-percent increase, year over year.
   Net income rose by 30.4 percent to $40.6 million for the North Carolina-based less-than-truckload company.
   These strong financial results are rooted in operational growth. Old Dominion experienced a 3.5-percent increase in total tonnage to 1,717 tons and a 2.6-percent uptick in total shipments. Revenue per shipment increased by 3.9 percent, year over year. Costs, however, are rising, as the carrier reported a 2.7-percent rise in costs per shipment.
   “Old Dominion’s strong financial and operating performance in a challenging operating environment reflects the dedication of the entire Old Dominion team and validates our value proposition and business model,” the carrier’s chief executive officer, David Congdon, said in a statement. “We are confident in our proven ability to execute our growth strategies, win additional market share and outperform our industry. As a result, we look forward to the remainder of 2013 and our prospects for creating additional value for our shareholders.”
   Analysts at BB&T Capital Markets called this a strong first quarter for Old Dominion, pointing out that the trend has continued so far this month, with 5-percent tonnage growth in April. Analysts also pointed out the carrier’s workforce has been productive so far this year; labor costs per ton only went up by 1.4 percent in the first quarter, signaling effective use of its employees. – Jon Ross

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