Covenant Transport Inc. said that its net income increased 438% to $3 million from $554,000 in the second quarter of 2001 despite a drop in freight revenue.
"Our results for the quarter are beginning to show the effects of a disciplined approach towards achieving our objective of returning profitability to the levels that we exhibited during the mid-to-late 1990s," said president & CEO David R. Parker.
For the quarter, freight revenue, before fuel and accessorial surcharges, decreased 2% to $138.8 million from $141.7 million in the second quarter of 2001.