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Old Dominion Freigh Line says 3rd-quarter profit down 55%

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JOURNAL STAFF AND WIRE REPORT

Published: October 23, 2009

THOMASVILLE -- Old Dominion Freight Line Inc. said yesterday that its net income was down 55 percent to $10.5 million in the third quarter from the third quarter of 2008.

Diluted earnings fell by 35 cents to 28 cents a share.

The company said that its sales for the quarter were down 22 percent to $322.8 million.

Earl Congdon, the executive chairman of Old Dominion, said that the company experienced overall tonnage declines and aggressive price competition during the quarter.

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Old Dominion Freigh Line says 3rd-quarter profit down 55%

JOURNAL STAFF AND WIRE REPORT