The success of Old Dominion Freight Line, Inc. over the past two decades can be attributed to its smart investment in technology and people, the company’s president and CEO recently told The Wall Street Transcript.
“We have been primarily investing in ourselves over the past two decades,” David Congdon, Old Dominion’s president and CEO, told the publication for an article published in the August issue.
“We also constantly invest in technology to ensure we are as efficient as possible,” Congdon added. “But at the end of the day, it’s our people and company culture that sets Old Dominion apart. That approach to business has fueled our growth over the years.”
In July, Old Dominion reported its revenue for the first six months of 2014 increased 17.2 percent to $1.32 billion from $1.13 billion for the same period a year earlier. The company also reported its operating ratio improved to 84.7 percent for the first six months of 2014 compared with 85.5 percent for the first half of 2013.
“We are able to continually build upon our growing customer base by staying true to our founding principles of delivering a premium service,” Congdon said. “We also constantly invest in our employees, infrastructure, technology and real estate to sustain this growth.”