ODFL’s Fourth-Quarter Income Declines

Old Dominion Freight Line said its fourth-quarter net income fell 29.7% to $11 million, or 30 cents a share, from $15.7 million, or 42 cents, a year ago.

Revenue declined 6.4% to $335.8 million, the less-than-truckload carrier said in a statement.

The carrier’s tonnage fell 4.9% in the quarter, while shipments fell 11.8%.

For the full 2008 year, income fell 4.4% to $68.7 million, or $1.84 per share, from $71.8 million, or $1.93 cents, the previous year.

Revenue increased 9.7% during 2008 to $1.5 billion.

Old Dominion Freight Line is ranked No. 20 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.