Trucker CNF Reports Net Income Fell 11%

CNF Inc., owner of the largest U.S. regional trucker, said first-quarter profit fell 11% as the slow U.S. economy held down revenue from its air-cargo business.

Net income dropped to $18 million, or 30 cents a share, from $20.3 million, or 35 cents, a year earlier, the company said. Sales rose 13% to $1.21 billion.

The Palo Alto-based company’s shares fell 15 cents to $30.15 on the NYSE.