Smithway’s 1Q Profit Rises Compared to 2004

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latbed carrier Smithway Motor Xpress Corp. reported Monday that its first-quarter net income rose to $503,000 or 10 cents a share, from $335,000 or 7 cents a year earlier.

The company said in a release that its operating revenue rose about 14% to $49.7 million.

"Inclement weather and seasonally lower freight in the winter typically cause financial performance of trucking companies to suffer during the first and last quarter,” Smithway President Larry Owens said in a statement.

“In light of this seasonality, we are pleases with our earnings which exceeded our expectations and represent our best performance in six years,” he said in a statement.

Smithway is ranked No. 94 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.