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Continues to explore growth through acquisition
Knight Transportation has reported revenue and net income for the fourth quarter and year ended December 31, 2015. Total revenue increased 7.3% in 2015, to reach US$1,183.0 million, as revenue, excluding trucking fuel surcharge, climbed 14.7% to US$1,061.7 million. Operating income increased 9.4% to US$178.0 million as net income climbed 13.5% to US$116.7 million.
During Q4, the Company experienced a less robust freight environment when compared to the same quarter last year. The contracted portion of freight volumes remained relatively stable, however, non-contract opportunities were challenged by falling load counts and additional competition.
This led to a decline in consolidated revenue, excluding trucking fuel surcharge, of 2.8%. Whilst profitability, cash flow generation, and return on capital remained strong, exceptional performance during Q4, 2014, in which revenue, excluding trucking fuel surcharge, grew 32.6% and net income grew 63.9%, resulted in a difficult comparison for 2015.
Both trucking and logistics segments continue to operate at industry leading levels as the Company continues to enhance its logistics capabilities to meet the supply chain needs of customers.
The Company also continues to explore growth through acquisition and believes the current environment should yield opportunities.