Knight Transportation Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenues of $290,739,000 compared with $317,468,000 for the same period a year ago. Income from operations was $43,652,000 compared with $52,782,000 for the same period a year ago. Income before income taxes was $45,260,000 compared with $56,047,000 for the same period a year ago. Net income attributable to company was $29,235,000 or $0.36 per diluted share compared with $32,938,000 or $0.40 per diluted share for the same period a year ago. Net capital expenditures were $40,562,000 compared with $57,526,000 for the same period a year ago. Cash flow from operations was $45,626,000 compared with $60,120,000 for the same period a year ago. Adjusted operating income was $43,652,000 compared with $52,782,000 for the same period a year ago. Adjusted net income attributable to company was $29,235,000 or $0.36 per diluted share compared with $32,938,000 or $0.40 per diluted share for the same period a year ago. Operating income was $43,652,000 compared with $52,782,000 for the same period a year ago.

For the year, the company reported total revenues of $1,182,964,000 compared with $1,102,332,000 for the same period a year ago. Income from operations was $178,000,000 compared with $162,722,000 for the same period a year ago. Income before income taxes was $186,504,000 compared with $171,830,000 for the same period a year ago. Net income attributable to company was $116,718,000 or $1.42 per diluted share compared with $102,862,000 or $1.25 per diluted share for the same period a year ago. Net capital expenditures were $149,414,000 compared with $178,834,000 for the same period a year ago. Cash flow from operations was $202,265,000 compared with $177,187,000 for the same period a year ago. Adjusted operating income was $185,163,000 compared with $162,722,000 for the same period a year ago. Adjusted net income attributable to company was $121,113,000 or $1.47 per diluted share compared with $102,862,000 or $1.25 per diluted share for the same period a year ago. Operating income was $178,000,000 compared with $162,722,000 for the same period a year ago.

The company is reducing its previously announced first quarter 2016 guidance range of $0.32 to $0.35 per diluted share to $0.28 to $0.31 per diluted share.

The company's expected range for the second quarter of 2016 is $0.32 to $0.35 per diluted share.

In the first half of 2016, the company expects load count to continue to outpace that 25% growth target as seen in the past. However, the company expects continued revenue per load headwinds that include lower fuel surcharge, shorter length of haul and less noncontract opportunities. These headwinds will impact the revenue growth year-over-year, and more likely, will result in a revenue growth below that 25% pace.

In 2015, the company generated $52.9 million in free cash flow, and the company expects that number to nearly double in 2016 as it estimates CapEx to be in the range of $85.0 million to $100.0 million.