Lowell, Ark.-based J.B. Hunt Transport Services, Inc. late Thursday reported second-quarter net earnings of $52.1million, or diluted earnings per share of 40 cents, compared with $24.0million, or19 cents per diluted share, in the second quarter of 2009. Second-quarter 2009 results included a pretax charge of $10.3 million, or 5 cents per diluted share, to write down the value of certain tractors held for sale. Excluding this charge, second-quarter 2009 earnings were 23 cents per diluted share.
Total operating revenue for the second quarter was $943 million, a 22% increase over the $770 million reported for the second quarter of 2009, the company said.
J.B. Hunt attributed the increase in operating revenue to higher Intermodal segment volumes, significant growth in our Dedicated Contract Services (DCS) segment, and revenue growth in our Truck segment.
In a statement, J.B. Hunt President and CEO Kirk Thompson said, Demand for transportation services has increased fairly dramatically aswe have emerged from a multi-year freight recession. Scarcity of capacity in Intermodal, Truckload, and Brokerage markets was quite pronounced in the current quarter. We saw our business improve sequentially throughout the quarter as reflected in higher prices in Intermodal and Truck as the quarter unfolded.
-- Edited by Uke on Monday 19th of July 2010 12:32:33 PM
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