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Old Dominion Freight Line's 4thQ profit up 128%
Written by David Horn   
Wednesday, 02 February 2011 12:10

(THOMASVILLE) -- Old Dominion Freight Line, Inc. reported its fourth quarter net income was $22.1 million.  This compared to net income of $9.7 million during the same period of the previous year.

The Thomasville-based less-than-a-truckload carrier reported a 28.3 percent increase in its fourth quarter revenue to $399 million. The company's revenue for the year ended December 31, 2010 increased 19 percent.

“Old Dominion produced strong revenue growth for the fourth quarter, as a 19.9% increase in shipments drove a 20.5% increase in tons compared with the fourth quarter of 2009," said David S. Congdon, President and Chief Executive Officer of Old Dominion. "Some of this increase can be attributed to the continued growth in U.S. industrial production and manufacturing, which has not only boosted volumes for transportation providers, but also decreased excess capacity in our industry."

 
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