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Overnite net income rises as margins expand

Overnite

Overnite Corp, the shared-load trucking company set to be acquired by United Parcel Service Inc.,said quarterly net income grew 37 percent, as operating profit margins expanded. Net income in the

quarter was $23.1 million, or 82 cents a share, compared to a year-earlier profit of $16.8 million,or 60 cents a share in the same period last year. Operating revenue grew 12.4 percent to $470.6million. Overnite shareholders are scheduled to vote on UPS’s $1.25 billion acquisition offer onAug. 4.

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