Knight Transportation is truckin' out a 3-for-2 stock split

After today's closing bell, Knight Transportation (NASDAQ: KNGT) announced a 3-for-2 stock split on its common stock, payable on June 1st, 2001 to shareholders on record as of May 18th. This event was first announced at the company's Board of Directors meeting earlier today. This is the second split in KNGT's history; the first was also a 3-for-2 split, announced in May of 1998.

Knight Transportation currently has approximately 15.4 million shares outstanding, 3.70 million in the float, and 100 million shares are authorized for issuance to the public.

Knight Transportation released favorable earnings on April 18 that stated net income from operations increased 13.6 percent to $7,809,000 from $6,874,000 for the same period in 2000. For the quarter ending March 31, 2001, net income per diluted share increased 7.7 percent to $0.28 from $0.26 for the same quarter in 2000.

KNGT shares were up +0.40 to 27.30 at the market's close. Volume was light with 24,100 shares trading hands; the three-month average is 62,900. The 52-week trading range for KNGT is 13.38 to 27.97.

About the Company:

Knight Transportation, Inc. is a short-to-medium haul, dry van truckload carrier headquartered in Phoenix, Arizona. The Company transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers and imported and exported commodities. (Company Press Release)

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