Knight Transportation Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Capital Expenditure Guidance for the Full Year 2017
For the year, the company reported total revenues of $1,118,034,000 compared with $1,182,964,000 for the same period a year ago. Income from operations was $148,479,000 compared with $178,000,000 for the same period a year ago. Income before income taxes was $152,830,000 compared with $186,504,000 for the same period a year ago. Net income attributable to company was $93,863,000 or $1.16 per diluted share compared with $116,718,000 or $1.42 per diluted share for the same period a year ago. Net capital expenditures were $89,001,000 compared with $149,414,000 for the same period a year ago. Cash flow from operations was $243,354,000 compared with $205,765,000 for the same period a year ago. Adjusted operating income was $150,929,000 compared with $185,163,000 for the same period a year ago. Adjusted net income attributable to company was $121,113,000 or $1.17 per diluted share compared with $102,862,000 or $1.47 per diluted share for the same period a year ago.
For 2017, the company expects net capital expenditures to be within a range of $95.0 to $110.0 million, which will primarily be used to replace existing tractors and trailers that will reach current trade cycle during the year.