Covenant Transport Inc, Chattanooga TN-based owner of Southern Refrigerated Transport and Bud Meyer Trucking, announced its financial and operating results for the second quarter and six months ended June 30, 2003.
For the quarter, revenue gained 1% to $145.9 million from $144.3 million in the same quarter of 2002. Freight revenue, before fuel and accessorial surcharges, dropped 1% to $137.4 million from $138.8 million in second-quarter 2002. Net income rose 6% to $3.2 million from $3.0 million in the 2002 quarter.
For the six months, revenue climbed 3% to $283.8 million from $276.5 million during the same period of 2002. Freight revenue, before fuel and accessorial surcharges, fell 1% to $265.5 million from $267.9 million a year earlier. Net earnings were $4.0 million versus $1.3 million in 2002.