Covenant Transport, Inc. to Present at Credit Suisse First Boston Conference Call - Final.

Original Source: FD (FAIR DISCLOSURE) WIRE

OPERATOR: Good morning. My name is Crystal, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the CSFB hours-of-service conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period. If you would like to ask a question during this time, simply press star then the number one on your telephone keypad. If you would like to withdraw your question press the pound key. Thank you, Mr. Hogan, you may begin your conference.

JOEY HOGAN, SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER, COVENANT TRANSPORT, INC.: Thank you and good morning everybody. With us today on the phone are David Mac, who many of you know, David Parker, Chairman, President and CEO, Covenant Transport. We'll hear from David first, and Scott Arves, President of Schneider National Trucking. And what we wanted to do this morning, in a fairly (inaudible) fashion is give folks a little bit of thumbnail sketches to what seems to be going on where half a month into the new hours-of-service rules, there's been a lot written about that, and how it's feeling from the vantage of point of the trucking company. We're not going to worry with what the rules are, most folks know all that kind of stuff, but get a sense for what that's doing in the marketplace and how folk seem to be reacting. So, we'll spend a few minutes first with David, turn it over to Scott, and then we will take your questions. And again, David and Scott, thanks for your time this morning. David, it's all yours.

DAVID PARKER, CHAIRMAN, PRESIDENT AND CEO, COVENANT TRANSPORT, INC.: Okay, let me just say thanks Gary. You know this hours-of-service has definitely been something that has been a challenge for the entire industry as we came more and more on it and learning more about it. Covenant went out last September, service similar to Schneider, as Schneider is definitely among the leaders in this hours-of-service, but we went out in last September with kind of a preliminary letter to our customers, basically just comments saying the hours-of-service rules are definitely going to help them challenges to omen, and we're going to have to adapt our operations to the new rule, and customers will let you know by some time in November exactly what we feel like it's going to affect, and to be honest with you, of late the whole industry from September up to really November with a learning process, trying to really learn how this thing affected our customer base, and which ones are going to be -- have some major problems, and which ones won't. And we went out to the street starting in November talking to all of our customers and explained to them the difficulties that we've seen based upon history.

We were able to do a lot of history studies with our customers, and provide them data that showed a lot of areas that they were either grading and/or they were lacking in. And I dare definitely say the customers appreciated to that part of it, and then as we determine what it's going to be, we set out in November with another letter to our customers saying, here's what we feel like that it is, and we would be out in the street talking to you. So, we've spent the entire month of December literally, out in the street, entire market apartment led by Mickey Miller, our Executive Vice President of Sales and Marketing, and by sales. I think we spent about 20 or 21 days in the month of December literally on the road making sure that our customers were hearing from us and I have got to tell you that I am very pleased thus far with what we have seen from our customer base. They were very open, the longer the timeframe we had they started understanding the …