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ODFL » Topics » Note 10. Quarterly Financial Information (Unaudited)

These excerpts taken from the ODFL 10-K filed Mar 2, 2009.

Note 10. Quarterly Financial Information (Unaudited)

A summary of our unaudited quarterly financial information for 2008 and 2007 is provided below. Our tonnage levels and revenue mix are subject to seasonal trends common in the motor carrier industry. Financial results in the first quarter are normally lower due to reduced shipments during the winter months. Harsh winter weather can also adversely impact our performance by reducing demand and increasing operating expenses.

 

     Quarter

(In thousands, except per share data)

    First    Second    Third    Fourth    Total

2008

               

Revenue

    $ 368,174    $ 417,840    $ 415,874    $ 335,836    $ 1,537,724

Operating income

      20,846      42,990      42,437      22,797      129,070

Net income

      10,389      23,881      23,359      11,048      68,677

Net income per share:

               

Basic and diluted (1)

      0.28      0.64      0.63      0.30      1.84

2007

               

Revenue (2)

    $ 319,942    $ 359,617    $ 363,298    $ 358,685    $ 1,401,542

Operating income

      25,044      40,650      34,017      30,226      129,937

Net income

      13,571      22,539      20,010      15,712      71,832

Net income per share:

               

Basic and diluted (1)

      0.36      0.60      0.54      0.42      1.93

 

(1) Due to rounding, the sum of the quarterly per share amounts does not agree to the year-to-date total.
(2) Our results for the second quarter of 2007 reflect a non-recurring item for the final resolution of a pricing issue under a contract with a single customer, which resulted in the recognition of an aggregate of $2 million in revenue, or $0.03 per diluted share.

 

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Note 10. Quarterly
Financial Information (Unaudited)

A summary of our unaudited quarterly financial information for 2008 and 2007 is provided below. Our
tonnage levels and revenue mix are subject to seasonal trends common in the motor carrier industry. Financial results in the first quarter are normally lower due to reduced shipments during the winter months. Harsh winter weather can also adversely
impact our performance by reducing demand and increasing operating expenses.

 
























































































































































































































































   Quarter

(In thousands, except per share data)

  First  Second  Third  Fourth  Total

2008

          

Revenue

  $368,174  $417,840  $415,874  $335,836  $1,537,724

Operating income

   20,846   42,990   42,437   22,797   129,070

Net income

   10,389   23,881   23,359   11,048   68,677

Net income per share:

          

Basic and diluted (1)

   0.28   0.64   0.63   0.30   1.84

2007

          

Revenue (2)

  $319,942  $359,617  $363,298  $358,685  $1,401,542

Operating income

   25,044   40,650   34,017   30,226   129,937

Net income

   13,571   22,539   20,010   15,712   71,832

Net income per share:

          

Basic and diluted (1)

   0.36   0.60   0.54   0.42   1.93

 





(1)Due to rounding, the sum of the quarterly per share amounts does not agree to the year-to-date total.




(2)Our results for the second quarter of 2007 reflect a non-recurring item for the final resolution of a pricing issue under a contract with a single customer, which resulted in the
recognition of an aggregate of $2 million in revenue, or $0.03 per diluted share.

 


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This excerpt taken from the ODFL 10-K filed Feb 29, 2008.

Note 10. Quarterly Financial Information (Unaudited)

A summary of our unaudited quarterly financial information for 2007 and 2006 is provided below. Our tonnage levels and revenue mix are subject to seasonal trends common in the motor carrier industry. Financial results in the first quarter are normally lower due to reduced shipments during the winter months. Harsh winter weather can also adversely impact our performance by reducing demand and increasing operating expenses.

 

     Quarter

(In thousands, except per share data)

    First    Second    Third    Fourth    Total

2007

               

Revenue (1)

    $ 319,942    $ 359,617    $ 363,298    $ 358,685    $ 1,401,542

Operating income

      25,044      40,650      34,017      30,226      129,937

Net income

      13,571      22,539      20,010      15,712      71,832

Net income per share:

               

Basic and diluted (2)

      0.36      0.60      0.54      0.42      1.93

2006

               

Revenue

    $ 291,631    $ 330,812    $ 337,569    $ 319,419    $ 1,279,431

Operating income

      23,582      38,602      36,676      31,625      130,485

Net income

      13,020      21,605      20,103      17,841      72,569

Net income per share:

               

Basic and diluted

      0.35      0.58      0.54      0.48      1.95

 

(1) Our results for the second quarter of 2007 reflect a non-recurring item for the final resolution of a pricing issue under a contract with a single customer, which resulted in the recognition of an aggregate of $2 million in revenue, or $0.03 per diluted share.
(2) Due to rounding, the sum of the quarterly per share amounts does not agree to the year-to-date total.

 

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Table of Contents
This excerpt taken from the ODFL 10-K filed Mar 1, 2007.

Note 10. Quarterly Financial Information (Unaudited)

A summary of our unaudited quarterly financial information for 2006 and 2005 is provided below. Our tonnage levels and revenue mix are subject to seasonal trends common in the motor carrier industry. Financial results in the first quarter are normally lower due to reduced shipments during the winter months. Harsh winter weather can also adversely impact our performance by reducing demand and increasing operating expenses.

 

      Quarter

(In thousands, except per share data)

    First    Second    Third    Fourth    Total

2006

               

Revenue

    $ 291,631    $ 330,812    $ 337,569    $ 319,419    $ 1,279,431

Operating income

      23,582      38,602      36,676      31,625      130,485

Net income

      13,020      21,605      20,103      17,841      72,569

Net income per share:

               

Basic and diluted

      0.35      0.58      0.54      0.48      1.95

2005

               

Revenue

    $ 236,770    $ 264,346    $ 275,076    $ 285,211    $ 1,061,403

Operating income (2)

      17,236      25,265      28,769      26,315      97,585

Income before cumulative effect of accounting change

      9,343      13,916      15,935      14,689      53,883

Net income (3)

      8,935      13,916      15,935      14,689      53,475

Net income per share before cumulative effect of accounting change:

               

Basic and diluted (1)

      0.25      0.37      0.43      0.39      1.45
(1) Due to rounding, the sum of the quarterly per share amounts may not agree to the year-to-date total.
(2) The fourth quarter of 2005 includes a pre-tax charge of $4.7 million, resulting from changes in estimates primarily related to our insurance reserves, which decreased net income by $2.8 million and diluted earnings per share by $0.07.
(3) The first quarter of 2005 includes a change in accounting principle as described in the “Tires on Equipment” section of Note 1 of these financial statements.

 

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EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 2, 2009
10-K
Feb 29, 2008
10-K
Mar 1, 2007

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"Note 10. Quarterly Financial Information (Unaudited)" elsewhere:

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