Old Dominion named to Fortune’s 100 fastest-growing companies list for 2013
The report highlighted Old Dominion’s strong financial performance in recent years, including a 21 percent revenue growth, 68 percent profit growth and 39 percent total return.
The Trucker News Services
THOMASVILLE, N.C. — FORTUNE Magazine today named Old Dominion Freight Line, Inc. to its coveted list of “100 Fastest-Growing Companies” for 2013.
Old Dominion, a leading less-than-truckload (“LTL”) carrier consistently maintains a 99 percent on-time delivery rate, one of the lowest claims ratios in the LTL industry and offers industry leading technology to its client base.
The magazine compiled this year’s list by measuring public companies by growth in revenue, profit and stock prices over the past three years. The report highlighted Old Dominion’s strong financial performance in recent years, including a 21 percent revenue growth, 68 percent profit growth and 39 percent total return.
“Even in challenging economic times, Old Dominion has experienced strong growth by staying true to our traditional, yet extremely effective core business principles,” said David Congdon, Old Dominion’s president and CEO. “Our top priority is to provide premium service to all our customers. This common sense approach has paid off in remarkable growth.”
“While we’re thrilled to make the list, we realize we must continue to focus on delivering our promises to our customers,” Congdon said. “By constantly investing in our employees and infrastructure, we believe we are continuing to position ourselves for long-term growth.”
Founded in 1934 in Richmond, VA and now based in Thomasville, N.C., Old Dominion has driven significant growth over the past decade. With annual revenue exceeding $2 billion in 2012, the company has more than tripled its annual operating revenue in 10 years.
Since 2002, Old Dominion has invested over $780 million in its service center network. Today, the company continues to invest in its national footprint. The company expects to spend $305 million on net capital expenditures in 2013, which includes $130 million for real estate purchases and expansion projects, $150 million on equipment and $25 million for technology and other assets.
For more information about Old Dominion, visit www.odfl.com or call (800) 432-6335.
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) is a leading, less-than-truckload (“LTL”), union-free company providing regional, inter-regional and national LTL service. In addition to its core LTL services, the Company offers its customers a broad range of logistics services including ground and air expedited transportation, supply chain consulting, transportation management, truckload brokerage, container delivery and warehousing. In addition, Old Dominion offers a consumer product for household moving: OD Household Services. Through strategic partnerships, the Company also offers international freight forwarding services throughout the world. OD consistently has one of the lowest claims ratio and best time on-time records in the industry. For more than 79 years, Old Dominion has been helping the world keep promises.
In 2013, Old Dominion was recognized again with numerous awards for company leadership in the industry: Forbes Magazine named Old Dominion as one of America’s 100 Most Trustworthy Companies; NASSTRAC honored the company as 2013 Carrier of the Year; Mastio & Company ranked Old Dominion as No. 1 National LTL carrier for the third consecutive year in a row; Inbound Logistics named the company to its 75 Green Supply Chain Partners (G75) List; For the 4th consecutive year, Logistics Management honored OD with the Quest for Quality Award; and CIO magazine recognized Old Dominion for IT Excellence with the CIO 100 Award for the fifth consecutive year. More information can be found at www.odfl.com.
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