Old Dominion Freight Line, Inc. announced financial results for the three-month period ended March 31, 2015. Revenue was $696.2 million, a 12.2% increase from $620.3 million for the first quarter of 2014. Net income grew 36.3% to $62.5 million from $45.9 million for the first quarter of 2014. Earnings per diluted share increased 37.7% to $0.73 for the first quarter of 2015 from $0.53 for the comparable prior-year quarter. Old Dominion's operating ratio improved 200 basis points to 85.1% from 87.1% for the first quarter of 2014. "Old Dominion began 2015 with another quarter of outstanding performance in terms of first quarter revenue, operating ratio and net income per diluted share," commented David S. Congdon, President and Chief Executive Officer of Old Dominion. "We produced strong profitable growth driven by further expansion in our market share. We continue to win market share by keeping our promise to provide on-time, claims-free service at a fair price. "The Company's revenue growth for the first quarter of 2015 was largely attributable to an 11.4% increase in LTL tons per day as compared to the same quarter last year, which reflected a 13.5% increase in LTL shipments partially offset by a 1.8% decline in LTL weight per shipment. We achieved this tonnage growth while also maintaining our pricing discipline. While LTL revenue per hundredweight increased 0.4%, our LTL revenue per hundredweight, excluding fuel surcharges, increased 6.2% reflecting a favorable pricing environment as well as the positive impact on this metric from the decrease in weight per shipment. "The combination of the increases in yield and tonnage density contributed to the 200 basis point year-over-year improvement in our operating ratio. Our 85.1% operating ratio was a new first quarter record for us, which we achieved despite the impact of severe winter weather and increased costs associated with a slight decline in productivity. The number of our full-time employees at March 31, 2015 was 16,835, which was a 17% increase from the first quarter of 2014. We believe we can realize additional operating efficiencies as density continues to improve and our newer employees gain experience. "We continued to invest in the capacity and capabilities of our network, equipment and technology during the first quarter, with capital expenditures totaling $72.2 million. Consistent with our long-term and ongoing investment strategies, we opened our 223rd service center during the first quarter in Watertown, South Dakota and completed the expansion of our service center in Oshkosh, Wisconsin. We continue to expect capital expenditures for 2015 to total $463.3 million, including planned expenditures of $164.7 million for real estate and service center expansion projects, $271.8 million for tractors, trailers and other equipment and $26.8 million for technology and other assets. "During the first quarter of 2015, we also repurchased 180,638 shares of our common stock for a total cost of $13.3 million. These purchases were made pursuant to our previously announced two-year, $200 million stock repurchase program." Mr. Congdon concluded, "We are excited about Old Dominion's opportunities in 2015, and we believe we are better positioned to produce sustainable long-term growth than at any time in our history. We have created a strong and unique competitive market position by delivering on our value proposition. We will steadily refine and improve on our service value while also making the necessary investments in our people, infrastructure, equipment and technology, all of which have differentiated Old Dominion from others in our industry. With our proven business model, market leadership and strong capital position, we are primarily focused on execution, discipline and investment during 2015, and we are confident in our ability to produce further long-term growth in earnings and shareholder value."