Old Dominion Freight Line, Inc. (ODFL) reported fourth-quarter net income of $9.7 million or $0.26 per share, compared with $11.0 million or $0.30 per share in the year-ago quarter. On average, 16 analysts polled by Thomson Reuters expected earnings of $0.23 per share. Analysts' estimates typically exclude special items.
Quarterly revenues totaled $310.9 million, compared with $335.8 million in the same quarter of last year. Wall Street analysts' consensus revenue estimate was $310 million.
The company said its revenue results reflect the tonnage decline and a reduction in its fuel surcharges due to the decrease in the average price of diesel fuel.
For 2009, net income was $34.9 million or $0.94 per share, compared to $68.7 million or $1.84 per share for 2008. Annual revenues amounted to $1.25 billion, lower than last year's $1.54 billion.
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