Covenant Transport's Fourth-Quarter Income Rises

ovenant Transport said late Tuesday reported its net income for the fourth quarter rose to $4.4 million or 32 cents a share, from a loss of $6.5 million or 32 cents a year earlier.

The truckload carrier said its revenue rose 8.7% to $178.4 million for the quarter.

For the year, Covenant earned $5.7 million or 40 cents a share, up from $3.4 million or 23 cents in 2004.

Chairman and Chief Executive Officer David Parker said that “Although we still have a lot of work to do, I am very pleased with the progress that we made during the second half of 2005 to stabilize our freight base and improve our revenue per tractor both sequentially and versus a very strong fourth quarter of 2004.”

Covenant is ranked No. 36 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.