Old Dominion Freight Line announced financial results for the three-month and twelve-month periods ending Dec. 31, which included a 19.5 percent increase in revenue for the fourth quarter, according to a news release.

Old Dominion earned $891,117 in fourth quarter revenue, compared to $745,738 in 2016. The company also had an operating income of $143,457 in the fourth quarter compared to $113,447 in 2016.

The financial results for the fourth quarter of 2017 included a $9.8 million expense related to a special bonus paid in December to non-executive employees following the passage of the Tax Cuts and Jobs Act. The act also required the company to revalue its net deferred tax liability, which resulted in a net tax benefit of $104.9 million.

"Old Dominion produced company-record results for both revenue and operating income in the fourth quarter," said David S. Congdon, vice chairman and CEO of Old Dominion. "We were pleased to see an acceleration in our revenue growth, which continued the momentum that began earlier in 2017. We believe that this growth was the result of continued strength in the domestic economy as well as our ability to win market share by providing shippers with network capacity and a value proposition that includes superior service at a fair price."