[X]
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934
|
For
the quarterly period ended June 30, 2006
|
|
or
|
|
[
]
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934
|
For
the transition period
from to
|
Arizona
|
86-0649974
|
(State
or other jurisdiction of
incorporation
or organization)
|
(I.R.S.
Employer
Identification
No.)
|
Large
accelerated filer [X]
|
Accelerated
filer [ ]
|
Non-accelerated
filer [ ]
|
PART
I - FINANCIAL
INFORMATION
|
Page
Number
|
|
Item
1.
|
Financial
Statements
|
|
Condensed
Consolidated Balance Sheets as of June 30, 2006
and
December 31, 2005
(Unaudited)
|
3
|
|
Condensed
Consolidated Statements of Income for the three and six
months
ended June 30, 2006 and 2005 (Unaudited)
|
5
|
|
Condensed
Consolidated Statements of Cash Flows for the six
months
ended June 30, 2006 and
2005 (Unaudited)
|
6
|
|
Notes
to Condensed Consolidated Financial Statements (Unaudited)
|
8
|
|
Item
2.
|
Management's
Discussion and Analysis of Financial Condition
and
Results of
Operation
|
13
|
Item
3.
|
Quantitative
and Qualitative Disclosures About Market Risk
|
20
|
Item
4.
|
Controls
and Procedures
|
21
|
Part
II - OTHER INFORMATION
|
||
Item
1.
|
Legal
Proceedings
|
22
|
Item
1A.
|
Risk
Factors
|
22
|
Item
2.
|
Unregistered
Sales of Equity Securities and Use of Proceeds
|
22
|
Item
3.
|
Defaults
Upon Senior Securities
|
22
|
Item
4.
|
Submission
of Matters to a Vote of Security Holders
|
22
|
Item
5.
|
Other
Information
|
23
|
Item
6.
|
Exhibits
|
23
|
Signatures
|
25
|
PART
I - FINANCIAL INFORMATION
|
Item
1. Financial
Statements
|
KNIGHT
TRANSPORTATION, INC. AND SUBSIDIARIES
Condensed
Consolidated Balance Sheets (unaudited)
As
of June 30, 2006 and December 31, 2005
(In
thousands)
|
|||||||
June
30, 2006
|
December
31, 2005
|
||||||
ASSETS
|
|||||||
Current
Assets:
|
|||||||
Cash
and cash
equivalents
|
$
|
17,973
|
$
|
18,809
|
|||
Short-term
investments
|
5,176
|
2,278
|
|||||
Accounts
receivable,
net
|
77,983
|
79,848
|
|||||
Notes
receivable,
net
|
277
|
241
|
|||||
Inventories
and
supplies
|
3,656
|
3,355
|
|||||
Prepaid
expenses
|
8,670
|
7,156
|
|||||
Restricted
cash
|
-
|
211
|
|||||
Deferred
tax
asset
|
8,244
|
8,533
|
|||||
Total
current assets
|
121,979
|
120,431
|
|||||
Property
and Equipment:
|
|||||||
Land
and
improvements
|
20,145
|
18,163
|
|||||
Buildings
and
improvements
|
35,528
|
34,482
|
|||||
Furniture
and
fixtures
|
6,418
|
7,518
|
|||||
Shop
and service
equipment
|
3,192
|
2,803
|
|||||
Revenue
equipment
|
461,513
|
430,048
|
|||||
Leasehold
improvements
|
422
|
378
|
|||||
527,218
|
493,392
|
||||||
Less:
Accumulated depreciation
and
amortization
|
(141,465
|
)
|
(141,053
|
)
|
|||
Property
and equipment, net
|
385,753
|
352,339
|
|||||
Notes
receivable - long-term
|
376
|
344
|
|||||
Goodwill
|
8,439
|
8,119
|
|||||
Other
assets & restricted cash
|
4,400
|
2,594
|
|||||
$
|
520,947
|
$
|
483,827
|
KNIGHT
TRANSPORTATION, INC. AND SUBSIDIARIES
Condensed
Consolidated Balance Sheets (unaudited) (continued)
As
of June 30, 2006 and December 31, 2005
(In
thousands, except par values)
|
|||||||
June
30, 2006
|
December
31, 2005
|
||||||
LIABILITIES
AND SHAREHOLDERS' EQUITY
|
|||||||
Current
Liabilities:
|
|||||||
Accounts
payable
|
$
|
9,668
|
$
|
7,464
|
|||
Accrued
payroll
|
6,641
|
5,452
|
|||||
Accrued
liabilities
|
16,468
|
13,307
|
|||||
Claims
accrual
|
23,049
|
26,155
|
|||||
Other
current
liabilities
|
-
|
211
|
|||||
Dividend
payable
|
-
|
1,713
|
|||||
Total
current liabilities
|
55,826
|
54,302
|
|||||
Deferred
tax liabilities
|
78,149
|
76,597
|
|||||
Total
liabilities
|
133,975
|
130,899
|
|||||
Commitments
and Contingencies
|
|||||||
Shareholders'
Equity:
|
|||||||
Preferred
stock, $0.01 par
value;
50,000
shares authorized;
none
issued and outstanding
|
-
|
-
|
|||||
Common
stock, $0.01 par value;
100,000 shares
authorized;
85,864
and 85,666 shares issued and outstanding
at
June 30, 2006 and December 31, 2005, respectively
|
859
|
857
|
|||||
Additional
paid-in
capital
|
90,672
|
87,148
|
|||||
Retained
earnings
|
295,441
|
264,923
|
|||||
Total
shareholders' equity
|
386,972
|
352,928
|
|||||
$
|
520,947
|
$
|
483,827
|
KNIGHT
TRANSPORTATION, INC. AND SUBSIDIARIES
Condensed
Consolidated Statements of Income (unaudited)
(In
thousands, except per share data)
|
|||||||||||||
Three
Months Ended
June
30,
|
Six
Months Ended
June
30,
|
||||||||||||
2006
|
2005
|
2006
|
2005
|
||||||||||
REVENUE:
|
|||||||||||||
Revenue,
before fuel surcharge
|
$
|
140,372
|
$
|
119,722
|
$
|
269,711
|
$
|
230,797
|
|||||
Fuel
surcharge
|
25,395
|
14,145
|
45,108
|
25,252
|
|||||||||
Total
revenue
|
165,767
|
133,867
|
314,819
|
256,049
|
|||||||||
OPERATING
EXPENSES:
|
|||||||||||||
Salaries,
wages and
benefits
|
47,861
|
39,196
|
91,063
|
76,114
|
|||||||||
Fuel
|
43,224
|
30,192
|
79,247
|
56,033
|
|||||||||
Operations
and
maintenance
|
8,286
|
8,171
|
17,714
|
15,803
|
|||||||||
Insurance
and
claims
|
6,108
|
5,940
|
11,862
|
12,304
|
|||||||||
Operating
taxes and
licenses
|
3,341
|
2,964
|
6,592
|
5,894
|
|||||||||
Communications
|
1,428
|
952
|
2,737
|
1,927
|
|||||||||
Depreciation
and
amortization
|
14,993
|
12,786
|
29,593
|
25,096
|
|||||||||
Lease
expense - revenue
equipment
|
108
|
-
|
217
|
-
|
|||||||||
Purchased
transportation
|
9,832
|
7,127
|
17,738
|
13,611
|
|||||||||
Miscellaneous
operating
expenses
|
658
|
1,725
|
2,030
|
3,305
|
|||||||||
Total
operating expenses
|
135,839
|
109,053
|
258,793
|
210,087
|
|||||||||
Income
from operations
|
29,928
|
24,814
|
56,026
|
45,962
|
|||||||||
Interest
and investment income
|
293
|
143
|
577
|
253
|
|||||||||
Income
before income taxes
|
30,221
|
24,957
|
56,603
|
46,215
|
|||||||||
Income
taxes
|
(12,100
|
)
|
(10,000
|
)
|
(22,650
|
)
|
(18,500
|
)
|
|||||
Net
income
|
$
|
18,121
|
$
|
14,957
|
$
|
33,953
|
$
|
27,715
|
|||||
Earnings
per common share and common share equivalent:
|
|||||||||||||
Basic
|
$ |
0.21
|
$
|
0.18
|
$
|
0.40
|
$
|
0.33
|
|||||
Diluted
|
$
|
0.21
|
$
|
0.17
|
$
|
0.39
|
$
|
0.32
|
|||||
Weighted
average number of common shares and common share equivalents
outstanding:
|
|||||||||||||
Basic
|
85,830
|
85,223
|
85,788
|
85,172
|
|||||||||
Diluted
|
87,113
|
86,966
|
87,141
|
87,020
|
KNIGHT
TRANSPORTATION, INC. AND SUBSIDIARIES
Condensed
Consolidated Statements of Cash Flows (unaudited)
(In
thousands)
|
|||||||
Six
Months Ended
June
30,
|
|||||||
2006
|
2005
|
||||||
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
|||||||
Net
income
|
$
|
33,953
|
$
|
27,715
|
|||
Adjustments
to reconcile net income to net cash provided by operating
activities:
|
|||||||
Depreciation
and amortization
|
29,593
|
25,096
|
|||||
Gain
on sales of equipment
|
(4,726
|
)
|
(1,320
|
)
|
|||
Non-cash
compensation expense for issuance of stock to certain
members
of board of directors
|
33
|
15
|
|||||
Provision
for allowance for doubtful accounts
|
(57
|
)
|
(65
|
)
|
|||
Tax
benefit on stock option exercises
|
-
|
844
|
|||||
Tax
benefits related to stock-based compensation
|
(733
|
)
|
-
|
||||
Stock
option expense
|
1,604
|
-
|
|||||
Deferred
income taxes
|
1,842
|
(965
|
)
|
||||
Changes
in assets and liabilities:
|
|||||||
(Increase)
in short-term investments
|
(2,898
|
)
|
-
|
||||
Decrease
(increase) in trade receivables
|
1,922
|
(5,840
|
)
|
||||
(Increase)
in inventories and supplies
|
(301
|
)
|
(745
|
)
|
|||
(Increase)
in prepaid expenses
|
(1,514
|
)
|
(1,469
|
)
|
|||
Decrease
in income tax receivable
|
-
|
3,216
|
|||||
(Increase)
decrease in other assets
|
(126
|
)
|
598
|
||||
Increase
(decrease) in accounts payable
|
1,340
|
(1,781
|
)
|
||||
Increase
in accrued liabilities, claims accrual and other
|
1,766
|
7,986
|
|||||
Net
cash provided by operating activities
|
61,698
|
53,285
|
|||||
CASH
FLOW FROM INVESTING ACTIVITIES:
|
|||||||
Purchase
of property and equipment
|
(83,390
|
)
|
(43,646
|
)
|
|||
Proceeds
from sales of equipment
|
25,974
|
6,050
|
|||||
Increase
in notes receivable
|
(69
|
)
|
(180
|
)
|
|||
Acquisition-related
contingent payment
|
(320
|
)
|
-
|
||||
(Increase)
in restricted cash
|
(384
|
)
|
-
|
||||
TRP
investment
|
(1,085
|
)
|
-
|
||||
Net
cash used in investing activities
|
(59,274
|
)
|
(37,776
|
)
|
KNIGHT
TRANSPORTATION, INC. AND SUBSIDIARIES
Condensed
Consolidated Statements of Cash Flows (unaudited)
(In
thousands)
|
|||||||
Six
Months Ended
June
30,
|
|||||||
2006
|
2005
|
||||||
CASH
FLOW FROM FINANCING ACTIVITIES:
|
|||||||
Dividends
paid
|
(5,148
|
)
|
(1,136
|
)
|
|||
Tax
benefits related to stock-based compensation
|
733
|
-
|
|||||
Proceeds
from exercise of stock options
|
1,155
|
1,193
|
|||||
Net
cash (used in) provided by financing activities
|
(3,260
|
)
|
57
|
||||
NET
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
|
(836
|
)
|
15,566
|
||||
CASH
AND CASH EQUIVALENTS, beginning of period
|
18,809
|
25,357
|
|||||
CASH
AND CASH EQUIVALENTS, end of period
|
$
|
17,973
|
$
|
40,923
|
|||
SUPPLEMENTAL
DISCLOSURES:
|
|||||||
Non-cash
investing and financing transactions:
|
|||||||
Equipment
acquired in accounts payable
|
$
|
2,765
|
$
|
1,277
|
|||
Cash
Flow Information:
|
|||||||
Income
taxes paid
|
$
|
21,294
|
$
|
10,851
|
Three
Months Ended
|
Six
Months Ended
|
||||||
June
30, 2005
|
June
30, 2005
|
||||||
Net
income, as reported
|
$
|
14,957
|
$
|
27,715
|
|||
Deduct
total stock-based compensation
expense
determined under fair-value based
method
for all awards, net of tax
|
(646
|
)
|
(930
|
)
|
|||
Pro
forma net income
|
$
|
14,311
|
$
|
26,785
|
|||
Basic
earnings per share:
|
|||||||
As
reported
|
$
|
0.18
|
$
|
0.33
|
|||
Pro
forma
|
$
|
0.17
|
$
|
0.31
|
|||
Diluted
earnings per share:
|
|||||||
As
reported
|
$
|
0.17
|
$
|
0.32
|
|||
Pro
forma
|
$
|
0.16
|
$
|
0.31
|
Quarter
Ended
June
30,
|
|||||||
2006
|
2005
|
||||||
Dividend
yield (1)
|
.43
|
%
|
.30
|
%
|
|||
Expected
volatility (2)
|
32.38
|
%
|
48.00
|
%
|
|||
Risk-free
interest rate (3)
|
5.08
|
%
|
4.00
|
%
|
|||
Expected
terms (4)
|
8.11
years
|
6.40
years
|
|||||
Weighted
average fair value of options granted
|
$
|
8.65
|
$
|
7.23
|
(1)
|
The
dividend yield is based on our historical experience and future
expectation of dividend payouts.
|
(2)
|
We
analyzed the volatility of our stock using historical data from January
1,
2003 through the end of the most recent period to estimate the expected
volatility.
|
(3)
|
The
risk-free interest rate assumption is based on U.S. Treasury
securities at
a constant maturity with a maturity period that most closely
resembles the
expected term of the stock option award.
|
(4)
|
The
expected terms of employee stock options represents the weighted-average
period the stock options are expected to remain outstanding and
has been
determined based on an analysis of historical exercise
behavior.
|
Option
Totals
|
Weighted
Average Exercise
Price
Per Share ($)
|
||||||
Outstanding
12/31/2005
|
4,562,511
|
10.68
|
|||||
Granted
|
780,960
|
18.70
|
|||||
Exercised
|
(196,136
|
)
|
6.00
|
||||
Forfeited
|
(149,338
|
)
|
10.95
|
||||
Outstanding
as of 6/30/06
|
4,997,997
|
12.26
|
Unvested
Option Totals
|
Weighted
Average Exercise
Price
Per Share ($)
|
||||||
Unvested
Outstanding 3/31/06
|
2,684,259
|
11.64
|
|||||
Granted
|
768,960
|
18.67
|
|||||
Vested
|
(178,079
|
)
|
9.48
|
||||
Forfeited
|
(13,839
|
)
|
12.87
|
||||
Unvested
Outstanding as of 6/30/06
|
3,261,301
|
13.42
|
Range
of
Exercise
Prices
($)
|
Number
Outstanding
|
Weighted
Avg.
Contractual
Years
Remaining
|
Weighted
Avg.
Exercise
Price
Per
Share
($)
|
Number
Vested
and
Exercisable
|
Weighted
Avg.
Exercise
Price
Per
Share for
Vested
and
Exercisable
($)
|
|||||
0.00
- 10.00
|
1,230,739
|
4.56
|
5.19
|
854,994
|
4.67
|
|||||
10.01
- 15.00
|
1,921,972
|
7.83
|
12.12
|
91,201
|
12.05
|
|||||
15.01
- 25.00
|
1,845,286
|
9.44
|
17.11
|
790,501
|
15.70
|
|||||
Overall
Total
|
4,997,997
|
7.62
|
12.26
|
1,736,696
|
10.08
|
Three
Months Ended
June
30,
|
Six
Months Ended
June
30,
|
||||||||||||
2006
|
2005
|
2006
|
2005
|
||||||||||
Weighted
average common shares
outstanding
- basic
|
85,830
|
85,223
|
85,788
|
85,172
|
|||||||||
Effect
of stock options
|
1,283
|
1,743
|
1,353
|
1,848
|
|||||||||
Weighted
average common share and
common
share equivalents outstanding -
diluted
|
87,113
|
86,966
|
87,141
|
87,020
|
|||||||||
Net
income
|
$
|
18,121
|
$
|
14,957
|
$
|
33,953
|
$
|
27,715
|
|||||
Earnings
per common share and common
share
equivalent
|
|||||||||||||
Basic
|
$
|
0.21
|
$
|
0.18
|
$
|
0.40
|
$
|
0.33
|
|||||
Diluted
|
$
|
0.21
|
$
|
0.17
|
$
|
0.39
|
$
|
0.32
|
|||||
·
|
Revenue,
before fuel surcharge, increased 17.2%, to $140.4 million from $119.7
million;
|
·
|
Net
income increased 21.2%, to $18.1 million from $15.0 million;
and
|
·
|
Net
income per diluted share increased 23.5%, to $0.21 from
$0.17.
|
(Total
revenue)
Three-Month
Period
Ended
June
30,
|
(Revenue
before fuel surcharge)
Three-Month
Period
Ended
June
30,
|
(Total
revenue)
Six-Month
Period
Ended
June
30,
|
(Revenue
before fuel surcharge)
Six-Month
Period
Ended
June
30,
|
||||||||||||||||||||||
2006
|
2005
|
2006
|
2005
|
2006
|
2005
|
2006
|
2005
|
||||||||||||||||||
Revenue
|
100.0
|
%
|
100.0
|
%
|
100.0
|
%
|
100.0
|
%
|
100.0
|
%
|
100.0
|
%
|
100.0
|
%
|
100.0
|
%
|
|||||||||
Operating
expenses:
|
|||||||||||||||||||||||||
Salaries,
wages and benefits
|
28.9
|
29.3
|
34.0
|
32.7
|
28.9
|
29.7
|
33.8
|
33.0
|
|||||||||||||||||
Fuel
|
26.1
|
22.6
|
12.7
|
13.4
|
25.2
|
21.9
|
12.7
|
13.3
|
|||||||||||||||||
Operations
and maintenance
|
5.0
|
6.1
|
5.9
|
6.8
|
5.6
|
6.2
|
6.6
|
6.8
|
|||||||||||||||||
Insurance
and claims
|
3.7
|
4.4
|
4.4
|
5.0
|
3.8
|
4.8
|
4.4
|
5.3
|
|||||||||||||||||
Operating
taxes and licenses
|
2.0
|
2.2
|
2.4
|
2.5
|
2.1
|
2.3
|
2.4
|
2.6
|
|||||||||||||||||
Communications
|
0.9
|
0.7
|
1.0
|
0.8
|
0.9
|
0.8
|
1.0
|
0.9
|
|||||||||||||||||
Depreciation
and amortization
|
9.0
|
9.6
|
10.7
|
10.7
|
9.4
|
9.8
|
10.9
|
10.9
|
|||||||||||||||||
Lease
expense - revenue equipment
|
0.1
|
0.0
|
0.1
|
0.0
|
0.1
|
0.0
|
0.1
|
0.0
|
|||||||||||||||||
Purchased
transportation
|
5.8
|
5.3
|
7.0
|
6.0
|
5.6
|
5.3
|
6.6
|
5.9
|
|||||||||||||||||
Miscellaneous
operating expenses
|
0.4
|
1.3
|
0.5
|
1.4
|
0.6
|
1.3
|
0.7
|
1.4
|
|||||||||||||||||
Total
operating expenses
|
81.9
|
81.5
|
78.7
|
79.3
|
82.2
|
82.1
|
79.2
|
80.1
|
|||||||||||||||||
Income
from operations
|
18.1
|
18.5
|
21.3
|
20.7
|
17.8
|
17.9
|
20.8
|
19.9
|
|||||||||||||||||
Net
interest income
|
0.1
|
0.1
|
0.2
|
0.1
|
0.2
|
0.1
|
0.2
|
0.1
|
|||||||||||||||||
Income
before income taxes
|
18.2
|
18.6
|
21.5
|
20.8
|
18.0
|
18.0
|
21.0
|
20.0
|
|||||||||||||||||
Income
taxes
|
7.3
|
7.5
|
8.6
|
8.3
|
7.2
|
7.2
|
8.4
|
8.0
|
|||||||||||||||||
Net
income
|
10.9
|
%
|
11.1
|
%
|
12.9
|
%
|
12.5
|
%
|
10.8
|
%
|
10.8
|
%
|
12.6
|
%
|
12.0
|
%
|
|||||||||
____________________________ |
Votes
For
|
Votes
Withheld
|
||||||
Gary
J. Knight
|
74,565,800
|
208,998
|
|||||
G.D.
Madden
|
76,092,715
|
554,083
|
|||||
Kathryn
L. Munro
|
69,426,186
|
396,842
|
|||||
Richard
J. Lehmann
|
76,249,956
|
396,842
|
For:
|
76,598,005
|
|||
Against:
|
7,951
|
|||
Abstentions:
|
34,842
|
|||
Broker
non-votes:
|
0
|
Exhibit
No.
|
Description
|
|
Exhibit
3
|
Articles
of Incorporation and Bylaws
|
|
(3.1)
|
Restated
Articles of Incorporation of the Company. (Incorporated by reference
to
Exhibit 3.1 to the Company's Registration Statement on Form S-1.
No
33-83534.)
|
|
(3.1.1)
|
First
Amendment to Restated Articles of Incorporation of the Company.
(Incorporated by reference to Exhibit 3.1.1 to the Company's report
on
Form 10-K for the period ended December 31, 2000.)
|
|
(3.1.2)
|
Second
Amendment to Restated Articles of Incorporation of the Company.
(Incorporated by reference to Exhibit 3.1.2 to the Company's Registration
Statement on Form S-3 No. 333-72130.)
|
|
(3.1.3)
|
Third
Amendment to Restated Articles of Incorporation of the Company.
(Incorporated by reference to Exhibit 3.1.3 to the Company's Report
on
Form 10-K for the period ended December 31, 2002.)
|
|
(3.2)
|
Restated
Bylaws of the Company. (Incorporated by reference to Exhibit 3.2
to the
Company's Registration Statement on Form S-3 No.
333-72130.)
|
|
(3.2.1)
|
First
Amendment to Restated Bylaws of the Company. (Incorporated by reference
to
Exhibit 3.2.1 to the Company's Report on Form 10-K for the period
ended
December 31, 2002.)
|
|
(3.2.2)
|
Second
Amendment to Restated Bylaws of the Company. (Incorporated by reference
to
Exhibit 3.2.1 to the Company's Report on Form 8-K dated March 2,
2005 and
filed on March 4, 2005.)
|
|
Exhibit
4
|
Instruments
defining the rights of security holders, including
indentures
|
|
(4.1)
|
Articles
4, 10, and 11 of the Restated Articles of Incorporation of the Company.
(Incorporated by reference to Exhibit 3.1 to this Report on Form
10-Q.)
|
|
(4.2)
|
Sections
2 and 5 of the Restated Bylaws of the Company. (Incorporated by reference
to Exhibit 3.2 to this Report on Form 10-Q.)
|
|
(4.3)
|
Knight
Transportation, Inc. 2003 Stock Option Plan. (Incorporated by reference
from Exhibit 1 to the Company's Proxy Statement filed April 4, 2003
on
Schedule 14A.)
|
|
(4.3.1)
|
First
Amendment to Knight Transportation, Inc. 2003 Stock Option Plan.
(Incorporated by reference to Exhibit 10.10.1 to the Company's Report
of
Form 10-Q for the period ended March 31, 2005.)
|
|
Exhibit
31
|
Section
302 Certifications
|
|
Certification
pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant
to
Section 302 of the Sarbanes-Oxley Act of 2002, by Kevin P. Knight,
the
Company's Chief Executive Officer.
|
||
Certification
pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant
to
Section 302 of the Sarbanes-Oxley Act of 2002, by David A. Jackson,
the
Company's Chief Financial Officer.
|
||
Exhibit
32
|
Section
906 Certifications
|
|
Certification
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
906 of
the Sarbanes-Oxley Act of 2002, by Kevin P Knight, the Company's
Chief
Executive Officer.
|
||
Certification
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
906 of
the Sarbanes-Oxley Act of 2002, by David A. Jackson, the Company's
Chief
Financial Officer.
|
KNIGHT
TRANSPORTATION, INC.
|
||
Date:
August 8, 2006
|
By:
|
/s/
Kevin P. Knight
|
Kevin
P. Knight
Chief
Executive Officer, in his capacity as such and
on
behalf of the registrant
|
||
Date:
August 8, 2006
|
By:
|
/s/
David A. Jackson
|
David
A. Jackson
Chief
Financial Officer, in his capacity as such and
on
behalf of the registrant
|