Old Dominion Sees 3Q Profit Rise; Boosts ’05 Guidance

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ld Dominion Freight Line said Friday that its third-quarter profit jumped to a record $15.9 million or 64 cents a share, from $12.2 million or 50 cents a year earlier.

ODFL set earnings guidance for the fourth quarter at 53 to 56 cents a share, from the 43 cents it earned in last year’s fourth quarter.

It also raised its full-year 2005 guidance to $2.11 to $2.14 a share, from previous guidance of $2.05 to $2.10

Third-quarter revenue rose 27.9% to $275 million, the sixth consecutive quarter with greater than 20% revenue growth, the less-than-truckload carrier said in a statement.

ODFL had a 21.8% growth in LTL tons, a 17.5% increase in LTL shipments and an increase of 3.7% in average weight of LTL shipments, Chairman and Chief Executive Officer Earl Congdon said in a statement.

Old Dominion Freight Line is ranked No. 28 on the Transport Topics list of 100 top for-hire North American carriers.