OVERNITE INCOME UP 52% IN 2000
Overnite Transportation Co., the Richmond, Va.-based less-than-truckload subsidiary of Union Pacific Corp., reported fourth-quarter net income of $13.3 million, compared to $900,000 for the year-earlier period.
Fourth-quarter revenue was $274.0 million, compared to $259.3 million in the fourth quarter of 1999. Operating income was $16.5 million, compared to a loss of $13.7 million for the year-earlier period. Operating ratio was 94.0, compared to 105.3 for last year.
For calendar year 2000, net income was $43.2 million, up 51.6 percent from 1999.
Revenue was $1.11 billion, up from $1.06 billion for the year earlier. Operating income rose 172 percent to $53.5 million. The company's operating ratio was 95.2, compared to 98.1 for 1999.