Old Dominion Freight Line Reports First-Quarter Revenue Growth of 33.0%

Old Dominion Freight Line ODFL today announced financial results for the first quarter ended March 31, 2011. Revenue increased 33.0% for the quarter to $422.7 million from $317.8 million for the first quarter of 2010. Net income rose 180.1% to $21.6 million from $7.7 million, while earnings per diluted share increased 171.4% to $0.38 from $0.14. For the first quarter of 2011, Old Dominion's operating ratio improved to 91.0% from 94.8% for the first quarter of 2010. The Company's per share results reflect an increase in weighted average shares outstanding that resulted from the issuance of 1,516,379 shares in March 2011 under a previously announced “at the market” stock offering program. Currently, the Company has 57,443,324 shares of common stock outstanding. All prior-period share and per share data in this release have been adjusted to reflect the Company's three-for-two stock split in August 2010.