10-Q/A

United States

Securities and Exchange Commission

Washington, D. C. 20549

FORM 10-Q/A

Amendment No. 1

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2011

or

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to ___________

Commission File Number 001-32396

KNIGHT TRANSPORTATION, INC.

(Exact Name of Registrant as specified in its charter)

Arizona	86-0649974
(State or other jurisdiction of	(IRS Employer
incorporation or organization)	Identification No.)

5601 West Buckeye Road

Phoenix, Arizona

85043

(Address of Principal Executive Offices)

(Zip Code)

(Registrant's telephone number, including area code) 602-269-2000

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. 

Yes x   No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    

Yes x     No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. 

Large accelerated filer x	Accelerated filer ¨
Non-accelerated filer ¨	Smaller reporting company ¨

Indicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). 

Yes ¨   No x

The number of shares outstanding of registrant’s common stock, par value $0.01 per share, as of July 31, 2011 was 80,455,786 shares.

EXPLANATORY NOTE

This Amendment No. 1 to the Quarterly Report on Form 10-Q for the period ended June 30, 2011, of Knight Transportation, Inc. (the “Company”), as filed with the Securities and Exchange Commission on August 9, 2011 (the “Original Filing”), is being filed solely to furnish Exhibit 101 to the Original Filing, as required by Rule 405 of Regulation S-T and to update the cover page regarding the submission and posting of Interactive Data Files during the preceding 12 months.  Exhibit 101 provides certain items from the Original Filing formatted in eXtensible Business Reporting Language (XBRL).

This Amendment No. 1 does not affect any other information contained in the Original Filing.  This Form 10-Q/A speaks as of the original filing date of the Original Filing, does not reflect events that occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the Original Filing.

Item 6.                                Exhibits

Exhibits required by Item 601 of Regulation S-K

Exhibit No.		Description
Exhibit 3		Articles of Incorporation and Bylaws
	(3.1)	Second Amended and Restated Articles of Incorporation of the Company. (Incorporated by reference to Appendix A to the Company's Definitive Proxy Statement on Schedule 14A filed April 20, 2007.)
	(3.2)	2010 Amended and Restated Bylaws of the Company. (Incorporated by reference to Exhibit 3 to the Company's Report on Form 8-K dated March 15, 2010 and filed on March 17, 2010.)
Exhibit 4		Instruments defining the rights of security holders, including indentures
	(4.1)	Articles 4, 10, and 11 of the Second Amended and Restated Articles of Incorporation of the Company.  (Incorporated by reference to Exhibit 3.1 to this Report on Form 10-Q.)
	(4.2)	Sections 2 and 5 of the 2010 Amended and Restated Bylaws of the Company.  (Incorporated by reference to Exhibit 3.2 to this Report on Form 10-Q.)
	(4.3)	Knight Transportation, Inc. Amended and Restated 2003 Stock Option and Equity Compensation Plan. (Incorporated by reference to the Company's Definitive Proxy Statement on Schedule 14A filed April 10, 2009.)
	(4.4)	Knight Transportation, Inc. Employee Stock Purchase Plan. (Incorporated by reference to the Company's Definitive Proxy Statement on Schedule 14A filed April 10, 2009.)
Exhibit 31		Section 302 Certifications
	(31.1)*	Certification pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, by Kevin P. Knight, the Company's Chief Executive Officer.
	(31.2)*	Certification pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, by David A. Jackson, the Company's Chief Financial Officer.
Exhibit 32		Section 906 Certifications
	(32.1)*	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, by Kevin P. Knight, the Company's Chief Executive Officer.
	(32.2)*	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, by David A. Jackson, the Company's Chief Financial Officer.
Exhibit 101		Interactive Data File
	(101.INS)**	XBRL Instance Document.
	(101.SCH)**	XBRL Taxonomy Extension Schema Document.
	(101.CAL)**	XBRL Taxonomy Extension Calculation Linkbase Document.
	(101.DEF)**	XBRL Taxonomy Extension Definition Linkbase Document.
	(101.LAB)**	XBRL Taxonomy Extension Label Linkbase Document.
	(101.PRE)**	XBRL Taxonomy Extension Presentation Linkbase Document.
	*Filed with the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2011, filed with the Securities and Exchange Commission on August 9, 2011.
	**In accordance with Regulation S-T, the XBRL-related information in Exhibit 101 shall be deemed to be "furnished" and not "filed."

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		KNIGHT TRANSPORTATION, INC.
Date:  September 8, 2011	By:	/s/ David A. Jackson
		David A. Jackson
		President and Chief Financial Officer, in his capacity as such and on behalf of the registrant

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Note 16 - Notes Receivable (Detail) - The Current and Long-Term Balance of our Notes Receivable (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Notes receivable from independent contractors	$ 2,156	$ 2,391
Notes receivable from third parties	3,652	3,598
Net investment in sales-type leases	95	128
Gross notes receivable	5,903	6,117
Allowance for doubtful notes receivable	(432)	(480)
Total notes receivable net of allowance	5,471	5,637
Current portion (net of allowance)	1,345	1,391
Long-term portion	$ 4,126	$ 4,246

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Condensed Consolidated Unaudited Balance Sheets (Parentheticals) (USD $) In Thousands, except Per Share data	Jun. 30, 2011	Dec. 31, 2010
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000	50,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	300,000	300,000
Common stock, shares issued	80,448	83,693
Common stock, shares outstanding	80,448	83,693

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Condensed Consolidated Statements of Income (unaudited) (USD $) In Thousands, except Per Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
REVENUE:
Revenue, before fuel surcharge	$ 182,350	$ 155,290	$ 332,850	$ 295,605
Fuel surcharge	46,133	30,118	82,107	55,493
Total revenue	228,483	185,408	414,957	351,098
OPERATING EXPENSES:
Salaries, wages and benefits	55,856	52,381	106,791	100,164
Fuel expense	60,079	43,975	109,778	84,210
Operations and maintenance	14,859	11,554	26,588	22,601
Insurance and claims	8,794	6,582	15,015	12,341
Operating taxes and licenses	3,893	3,567	7,605	6,618
Communications	1,396	1,386	2,721	2,712
Depreciation and amortization	18,351	17,965	36,825	35,931
Purchased transportation	34,801	19,018	60,240	35,804
Miscellaneous operating expenses	3,320	2,984	6,313	6,142
Total operating expenses	201,349	159,412	371,876	306,523
Income from operations	27,134	25,996	43,081	44,575
Interest income	462	504	807	939
Other income/(expense)	0	(154)	8	663
Income before income taxes	27,596	26,346	43,896	46,177
Income taxes	11,120	10,538	17,565	18,025
Net income	16,476	15,808	26,331	28,152
Net (income)/loss attributable to noncontrolling interest	(118)	28	(117)	28
Net income attributable to Knight Transportation	$ 16,358	$ 15,836	$ 26,214	$ 28,180
Earnings per common share and common share equivalent:
Basic (in Dollars per share)	$ 0.20	$ 0.19	$ 0.31	$ 0.34
Diluted (in Dollars per share)	$ 0.20	$ 0.19	$ 0.31	$ 0.33
Weighted average number of common shares and common share equivalents outstanding:
Basic (in Shares)	82,785	83,499	83,275	83,427
Diluted (in Shares)	83,307	84,418	83,882	84,272

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Note 18 - Line of Credit (Detail) (USD $) In Millions, unless otherwise specified	Jun. 30, 2011
Line of Credit Facility, Maximum Borrowing Capacity	$ 50.0
Debt Instrument, Basis Spread on Variable Rate	0.625%
Line of Credit, Current	$ 28.6

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Note 18 - Line of Credit

6 Months Ended

Jun. 30, 2011

Line of Credit Facility, Revolving Credit, Description

Note 18.                    Line of Credit

We have maintained a line of credit that permits revolving borrowings and letters of credit totaling $50.0 million. The line of credit bears interest either at prime or LIBOR plus 0.625%, determined by us at the time of borrowing. At June 30, 2011, the utilized portion of the line of credit consisted solely of issued but unused letters of credit totaling $28.6 million. These letters of credit are issued to various regulatory authorities in connection with our self-insurance programs. We are obligated to comply with certain financial and other covenants under our line of credit agreement, including maintaining a leverage ratio of not greater than 1.0 at the end of each fiscal quarter, maintaining positive pre-tax profit for each fiscal quarter, and maintaining positive net income after tax for each fiscal year. We were in compliance with these covenants at June 30, 2011 and December 31, 2010.

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Document And Entity Information	6 Months Ended
	Jun. 30, 2011	Jul. 31, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	Knight Transportation Inc
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		80,455,786
Amendment Flag	false
Entity Central Index Key	0000929452
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2

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Note 15 - Fair Value Measurements (Detail) - The Fair Value of the Company's Financial Assets and Liabilities that are Required to be Measured at Fair Value (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Money market funds	$ 11,320	$ 22,856
Debt securities - municipal securities		24,379
Equity securities - common shares	4,331	4,923
Money market funds and debt securities –municipal securities	3,520	2,879
Level One [Member]
Money market funds	11,320	22,856
Equity securities - common shares	4,331	4,923
Money market funds and debt securities –municipal securities	817	811
Level Two [Member]
Debt securities - municipal securities		24,379
Money market funds and debt securities –municipal securities	$ 2,703	$ 2,068

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Note 2 - Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

	Three Months Ended June 30,						Six Months Ended June 30,
	(in thousands)						(in thousands)
	2011			2010			2011			2010
Stock compensation expense for options,  net of forfeitures	$	616		$	893		$	1,315		$	1,663
Stock compensation expense for restricted stock units, net of forfeitures		367			211			743			424
Combined stock compensation expense		983			1,104			2,058			2,087
Income tax		(398	)		(442	)		(823	)		(815	)
Net stock compensation expense after tax	$	585		$	662		$	1,235		$	1,272

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Option Totals			Weighted Average Exercise Price Per Share
Outstanding as of December 31, 2010		4,144,476		$	15.68
Granted		-			-
Exercised		(98,137	)		12.29
Forfeited		(77,908	)		16.56
Outstanding as of June 30, 2011		3,968,431		$	15.71

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

	Number of Restricted Stock Unit Awards			Weighted Average Grant Date Fair Value
Unvested as of December 31, 2010		1,364,560		$	16.11
Granted		-			-
Vested		(81,513	)		16.11
Forfeited		(14,460	)		16.24
Outstanding as of June 30, 2011		1,268,587		$	16.11

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Note 14 - Company Share Repurchase Programs (Detail) (USD $) In Thousands, except Share data	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	May 19, 2011	Mar. 31, 2011	Nov. 13, 2008
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			10,000,000		3,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	8,585,956			2,020,956
Stock Repurchased During Period, Shares	3,435,000
Payments for Repurchase of Common Stock (in Dollars)	$ 59,200	$ 0

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Note 7 - Dividends

6 Months Ended

Jun. 30, 2011

Common Stock Dividends [Text Block]

Note 7.                     Dividends

On May 19, 2011, we declared a cash dividend of $0.06 per share of our common stock.  The dividend was payable to shareholders of record on June 3, 2011, and was paid on June 24, 2011. Future payment of cash dividends, and the amount of any such dividends, will depend upon our financial condition, results of operations, cash requirements, tax treatment, and certain corporate law requirements, as well as other factors deemed relevant by our Board of Directors.

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Note 3 - Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of Earnings Per Share Reconciliation [Table Text Block]

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
	(in thousands, except per share data)
Weighted average common shares outstanding – basic		82,785		83,499		83,275		83,427
Dilutive effect of stock options and unvested restricted stock units		522		919		607		845
Weighted average common shares outstanding – diluted		83,307		84,418		83,882		84,272
Net income attributable to Knight Transportation	$	16,358	$	15,836	$	26,214	$	28,180
Earnings per common share
Basic	$	0.20	$	0.19	$	0.31	$	0.34
Diluted	$	0.20	$	0.19	$	0.31	$	0.33

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Number of anti-dilutive shares		2,412,556		7,500		2,088,856		7,500

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Note 9 - Investments and Related Commitments (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Dec. 31, 2009	Jun. 30, 2011
TRP [Member]
Investment Owned, Balance, Principal Amount		$ 2.2
Leveraged Buyout, Continuing Ownership Interest by Continuing Stockholders		2.00%
TRPIII [Member]
Investment Owned, Balance, Principal Amount		2.8
Long-term Purchase Commitment, Amount	15.0
Investment Owned, at Cost		3.1
Long Term Purchase Commitment, Remaining Minimum Amount Committed		$ 11.9
Equity Method Investment, Ownership Percentage		6.10%

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Note 5 - Joint Venture (Detail) (USD $)	12 Months Ended
	Dec. 31, 2010
Payments to Acquire Interest in Joint Venture (in Dollars)	$ 26,000
Joint Venture Ownership Interest	52.00%

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Note 20 - Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2011

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

Note 20.                    Recent Accounting Pronouncements

In June 2011, the FASB issued ASU No. 2011-05, “Comprehensive Income (ASC Topic 220): Presentation of Comprehensive Income” (“ASU 2011-05”), which amends current comprehensive income guidance. This accounting update eliminates the option to present the components of other comprehensive income as part of the statement of shareholders’ equity. Instead, the Company must report comprehensive income in either a single continuous statement of comprehensive income which contains two sections, net income and other comprehensive income, or in two separate but consecutive statements. ASU 2011-05 will be effective during the interim and annual periods beginning after December 15, 2011 with early adoption permitted. Adoption of ASU 2011-05 is not expected to have a material impact on the Company’s consolidated financial statements.

In May 2011, the FASB issued ASU No. 2011-04, “Fair Value Measurement (ASC Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” (“ASU 2011-04”), which clarifies existing fair value measurement and disclosure requirements, amends certain fair value measurement principles and requires additional disclosures about fair value measurements. ASU 2011-04 will be effective during the interim and annual periods beginning after December 15, 2011; early adoption is not permitted. Adoption of ASU 2011-04 is not expected to have a material impact on the Company’s consolidated financial statements.

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Note 12 - Assets Held for Sale

6 Months Ended

Jun. 30, 2011

Disclosure of Long Lived Assets Held-for-sale [Table Text Block]

Note 12.                    Assets Held for Sale

Revenue equipment that is not utilized in continuing operations and is held for sale is classified as “assets held for sale” on the balance sheet.  Assets held for sale at June 30, 2011 totaled $3.2 million, compared to $4.1 million as of December 31, 2010. Assets held for sale are no longer subject to depreciation, and are recorded at the lower of depreciated carrying value or fair market value less selling costs. We expect to sell these assets and replace them with new assets within twelve months.

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Note 3 - Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Text Block]

Note 3.                     Earnings Per Share

A reconciliation of the basic and diluted earnings per share computations for the three and six months ended June 30, 2011 and 2010, respectively, is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
	(in thousands, except per share data)
Weighted average common shares outstanding – basic		82,785		83,499		83,275		83,427
Dilutive effect of stock options and unvested restricted stock units		522		919		607		845
Weighted average common shares outstanding – diluted		83,307		84,418		83,882		84,272
Net income attributable to Knight Transportation	$	16,358	$	15,836	$	26,214	$	28,180
Earnings per common share
Basic	$	0.20	$	0.19	$	0.31	$	0.34
Diluted	$	0.20	$	0.19	$	0.31	$	0.33

Certain shares of common stock were excluded from the computation of diluted earnings per share because the related options' exercise prices were greater than the average market price of the common shares, and therefore, the effect would be anti-dilutive.  A summary of those options follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Number of anti-dilutive shares		2,412,556		7,500		2,088,856		7,500

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Note 2 - Stock-Based Compensation (Detail) - A Summary of the Restricted Stock Unit Award Activity Under the 2003 Plan (USD $)	6 Months Ended
	Jun. 30, 2011
Unvested as of December 31, 2010	1,364,560
Unvested as of December 31, 2010 (in Dollars per share)	$ 16.11
Vested	(81,513)
Vested (in Dollars)	$ 16.11
Forfeited	(14,460)
Forfeited (in Dollars per share)	$ 16.24
Outstanding as of June 30, 2011	1,268,587
Outstanding as of June 30, 2011 (in Dollars per share)	$ 16.11

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Note 9 - Investments and Related Commitments

6 Months Ended

Jun. 30, 2011

Commitments Disclosure [Text Block]

Note 9.                     Investments and Related Commitments

In 2003, we signed a partnership agreement with Transportation Resource Partners, LP ("TRP"), who makes privately negotiated equity investments.  Our investment in TRP is accounted for using the cost method as our level of influence over the operations of TRP is minor.  At June 30, 2011, the carrying book balance of our investment in TRP was $2.2 million, and our ownership interest was approximately 2.0%. This balance is included in "Other long-term assets and restricted cash" of our consolidated balance sheet.

In the fourth quarter of 2009, we committed to invest $15.0 million in a new partnership managed and operated by the managers and principals of TRP. The new partnership, Transportation Resource Partners III, LP ("TRP III"), is focused on the same investment opportunities as TRP. Since its inception, we have contributed approximately $3.1 million to TRP III, leaving an outstanding commitment of $11.9 million as of June 30, 2011.  In accordance with Accounting Standards Codification Topic 323, our investment in TRP III is accounted for using the equity method. At June 30, 2011, our investment balance in TRP III was $2.8 million, and our ownership interest was approximately 6.1%. This balance is included in “Other long-term assets and restricted cash” of our consolidated balance sheet.

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Note 14 - Company Share Repurchase Programs

6 Months Ended

Jun. 30, 2011

Schedule of Repurchase Agreements [Table Text Block]

Note 14.                    Company Share Repurchase Programs

On November 13, 2008, our Board of Directors unanimously authorized the repurchase of up to 3.0 million shares of our common stock.  Under our share repurchase program, repurchased shares are constructively retired and returned to unissued status. As of March 31, 2011, there were 2,020,956 shares remaining for future purchases under our repurchase program that was authorized 2008.

On May 19, 2011, our Board of Directors unanimously authorized the repurchase of an additional 10.0 million shares of our common stock.  The repurchase authorization is intended to afford us the flexibility to acquire shares opportunistically in future periods and does not indicate an intention to repurchase any particular number of shares within a definite timeframe.  Any repurchases would be effected based upon share price and market conditions.

In second quarter 2011, we repurchased a total of 3,435,000 shares under both plans for approximately $59.2 million. The repurchase program authorized in 2008 has expired with the purchases made in the second quarter of 2011. The shares acquired have been retired and are available for future issuance. The purchases were made in accordance with Securities and Exchange Commission Rule 10b-18, which limits the amount and timing of repurchases. As of June 30, 2011, there were 8,585,956 shares remaining for future purchases under the repurchase program that was authorized this year. The repurchase authorization will remain in effect until the share limit is reached or the program is terminated.

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Note 10 - Marketable Equity Securities

6 Months Ended

Jun. 30, 2011

Available-for-sale Securities [Table Text Block]

Note 10.                    Marketable Equity Securities

In 2010, we invested approximately $4.9 million in marketable equity securities that are classified as available-for-sale securities and carried at fair value, with unrealized gains and losses recorded as a component of accumulated other comprehensive income in shareholders’ equity. Realized gains and losses on available-for-sale securities are included in the determination of net income. As of June 30, 2011, our available-for-sale equity investment included in “Other long-term assets and restricted cash” was approximately $4.3 million, including unrealized loss of approximately $581,000.

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Note 2 - Stock-Based Compensation (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Proceeds from Stock Options Exercised	$ 500,000	$ 1,400,000	$ 1,216,000	$ 3,010,000
Employee Service Share Based Compensation Nonvested Awards Cost Not Yet Recognized			6,300,000
Unrecognized Compensation Expense Restricted Stock			$ 17,100,000

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Note 8 - Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2011

Goodwill and Intangible Assets Disclosure [Text Block]

Note 8.                     Goodwill and Intangible Assets

Goodwill represents the excess of the purchase price of our acquisitions over the fair value of the net assets acquired. The tax benefit from the recognition on the tax return of the amortization of the excess tax goodwill over book goodwill is treated as a reduction in the book basis of goodwill.  The changes in the carrying amount of goodwill and intangible assets for the six months ended June 30, 2011 were:

Goodwill:	In Thousands
Balance at December 31, 2010	$	10,313
Amortization relating to deferred tax assets		(9	)
Balance at June 30, 2011	$	10,304

Intangible Assets:	In Thousands
Balance at December 31, 2010	$	52
Amortization		(31	)
Balance at June 30, 2011	$	21

Intangible assets are being amortized on a straight-line method over a five-year period.  Annual amortization expense is expected to be $52,000 for fiscal year 2011.

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Note 17 - Related Party Transactions (Detail) (USD $)	6 Months Ended
	Jun. 30, 2011	Dec. 31, 2010
Related Party Transaction Percent of Ownership	33.00%
Related Party Transaction, Rate	5.00%
Related Party Transaction, Due from (to) Related Party, Noncurrent	$ 3,037,000	$ 3,038,000

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Note 1 - Financial Information

6 Months Ended

Jun. 30, 2011

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Note 1.                     Financial Information

References in this Report on Form 10-Q to "we," "us," "our," "Knight," or the "Company" or similar terms refer to Knight Transportation, Inc. and its consolidated subsidiaries. All inter-company balances and transactions have been eliminated in consolidation.

The accompanying condensed consolidated unaudited financial statements of Knight Transportation, Inc. and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America and Regulation S-X, instructions to Form 10-Q, and other relevant rules and regulations of the Securities and Exchange Commission (the "SEC"), as applicable to the preparation and presentation of interim financial information. Certain information and footnote disclosures have been omitted or condensed pursuant to such rules and regulations.  We believe all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included.  Results of operations in interim periods are not necessarily indicative of results for a full year.  These condensed consolidated unaudited financial statements and notes thereto should be read in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2010.

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Note 4 - Segment Information

6 Months Ended

Jun. 30, 2011

Segment Reporting Disclosure [Text Block]

Note 4.                     Segment Information

We are a provider of multiple truckload transportation services with a nationwide network of service centers through which we operate one of the country’s largest tractor fleets.  In addition to our own fleet, we also partner with third-party equipment providers to provide truckload capacity and a broad range of solutions to truckload shippers. We have five operating segments comprised of three asset-based operating segments (dry van truckload, temperature-controlled truckload, and port services) and two non-asset-based operating segments (brokerage and intermodal services). Through our asset-based and non-asset-based capabilities we are able to transport, or can arrange for the transportation of, general commodities for customers throughout the United States and parts of Canada and Mexico. 

In the past, we identified two reportable segments comprised of an asset-based segment and a non-asset-based segment.  As we broaden the range of our truckload solutions for our customers across multiple service offerings and transportation modes, we assess the impact of these changes on our determination of operating and reportable segments.  Based on the guidance set forth in Accounting Standards Codification ("ASC") Sub-Topic 280-10, Segment Reporting, we have determined we have one reportable segment. All five operating segments meet all of the aggregation criteria set forth in the guidance.  Based on our evaluation, we also concluded that all operating segments exhibit similar long-term economic characteristics, have similar performance indicators, and are exposed to the same competitive, operating, financial, and other risk factors.

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Note 8 - Goodwill and Intangible Assets (Detail) (USD $)	12 Months Ended
	Dec. 31, 2011
Amortization of Intangible Assets	$ 52,000

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Note 16 - Notes Receivable (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	June 30, 2011			December 31, 2010
	(in thousands)
Notes receivable from independent contractors	$	2,156		$	2,391
Notes receivable from third parties		3,652			3,598
Net investment in sales-type leases		95			128
Gross notes receivable		5,903			6,117
Allowance for doubtful notes receivable		(432	)		(480	)
Total notes receivable net of allowance		5,471			5,637
Current portion (net of allowance)		1,345			1,391
Long-term portion	$	4,126		$	4,246

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

	June 30, 2011			December 31, 2010
	(in thousands)
Total minimum lease payments to be received	$	103		$	140
Less: unearned income		(8	)		(12	)
Net investment in sales-type leases	$	95		$	128

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Note 16 - Notes Receivable (Detail) - Components of the Net Investment in Sales-Type Leases (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Total minimum lease payments to be received	$ 103	$ 140
Less: unearned income	(8)	(12)
Net investment in sales-type leases	$ 95	$ 128

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Note 5 - Joint Venture

6 Months Ended

Jun. 30, 2011

Joint Venture [Text Block]

Note 5.                     Joint Venture

In 2010, we partnered with a non-related investor to form an Arizona limited liability company for the purpose of sourcing commercial vehicle parts. We contributed $26,000 to acquire 52% ownership of this entity.

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Note 8 - Goodwill and Intangible Assets (Detail) - The Changes in Carrying Amount of Intangible Assets (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011
Balance	$ 52
Amortization	(31)
Balance	$ 21

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Note 8 - Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of Goodwill [Table Text Block]

Goodwill:	In Thousands
Balance at December 31, 2010	$	10,313
Amortization relating to deferred tax assets		(9	)
Balance at June 30, 2011	$	10,304

Schedule of Finite-Lived Intangible Assets by Major Class [Table Text Block]

Intangible Assets:	In Thousands
Balance at December 31, 2010	$	52
Amortization		(31	)
Balance at June 30, 2011	$	21

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Note 2 - Stock-Based Compensation (Detail) - Stock-Based Compensation (USD $) In Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Stock compensation expense for options, net of forfeitures	$ 616	$ 893	$ 1,315	$ 1,663
Stock compensation expense for restricted stock units, net of forfeitures	367	211	743	424
Combined stock compensation expense	983	1,104	2,058	2,087
Income tax	(398)	(442)	(823)	(815)
Net stock compensation expense after tax	$ 585	$ 662	$ 1,235	$ 1,272

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Note 8 - Goodwill and Intangible Assets (Detail) - The Changes in Carrying Amount of Goodwill (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011
Balance	$ 10,313
Amortization relating to deferred tax assets	(9)
Balance	$ 10,304

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Note 15 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2011

Fair Value, Measurement Inputs, Disclosure [Table Text Block]

			Level One		Level Two		Level Three
	Balance at June 30, 2011	Balance at December 31, 2010	Balance at June 30, 2011	Balance at December 31, 2010	Balance at June 30, 2011	Balance at December 31, 2010	Balance at June 30, 2011	Balance at December 31, 2010
	(in thousands)
Assets:
Money market funds	$11,320	$22,856	$11,320	$22,856	-	-	-	-
Trading Securities:
Debt securities - municipal securities	-	$24,379	-	-	-	$24,379	-	-
Available-for-sale Securities:
Equity securities - common shares	$4,331	$4,923	$4,331	$4,923	-	-	-	-
Restricted cash and investments:
Money market funds and debt securities –municipal securities	$3,520	$2,879	$817	$811	$2,703	$2,068	-	-

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Note 13 - Income Taxes

6 Months Ended

Jun. 30, 2011

Income Tax Disclosure [Text Block]

Note 13.                    Income Taxes

We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. For interim reporting purposes, our income tax provisions are recorded based on the estimated annual effective tax rate. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.  The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.  We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and recent financial operations.  A valuation allowance for deferred tax assets has not been deemed necessary due to our history of profitable operations.

We recognize a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits.   We file U.S. and state income tax returns with varying statutes of limitations.  The 2007 through 2010 tax years generally remain subject to examination by federal authority, and the 2006 through 2010 tax years generally remain subject to examination by state tax authorities.  We believe that our income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to our consolidated financial position, results of operations and cash flows.  Our policy is to recognize interest and penalties related to unrecognized tax benefits as income tax expense.  We have not recorded any unrecognized tax benefits at June 30, 2011.

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Note 6 - Commitments and Contingencies

6 Months Ended

Jun. 30, 2011

Commitments and Contingencies Disclosure [Text Block]

Note 6.                     Commitments and Contingencies

We are a party to certain claims and pending litigation arising in the normal course of business.  These proceedings primarily involve claims for personal injury or property damage incurred in the transportation of freight or for personnel matters.  We maintain insurance to cover liabilities arising from the transportation of freight in amounts in excess of self-insurance retentions.  Our self-insurance retention for auto liability ranges from $1.0 million to $2.0 million per occurrence depending the applicable policy year. Our self-insurance retention for workers’ compensation claims is $500,000 per occurrence.  Based on our present knowledge of the facts and, in certain cases, advice of outside counsel, management believes the resolution of claims and pending litigation, taking into account existing accrued amounts, will not have a materially adverse effect on us. 

We also are involved in certain class action litigation in which the plaintiffs allege claims for failure to provide meal and rest breaks, unpaid wages, unauthorized deductions, and other items.  Based on its knowledge of the facts and advice of outside counsel, management does not believe the outcome of this litigation is likely to have a materially adverse effect on us.  However, the final disposition of these matters and the impact of such final dispositions cannot be determined at this time.    

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Note 16 - Notes Receivable

6 Months Ended

Jun. 30, 2011

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 16.                    Notes Receivable

We provide financing to independent contractors and third parties on equipment sold or leased under our equipment sale program. Most of the notes are collateralized and are due in weekly installments, including principal and interest payments generally ranging from 5% to 14%, over periods generally ranging from six months to four years. We had 208 and 210 loans outstanding from independent contractors and third parties as of June 30, 2011 and December 31, 2010, respectively.

The notes receivable balances are classified separately between current and long-term in the balance sheet.  The current and long-term balance of our notes receivable at June 30, 2011 and December 31, 2010 are as follows:

	June 30, 2011			December 31, 2010
	(in thousands)
Notes receivable from independent contractors	$	2,156		$	2,391
Notes receivable from third parties		3,652			3,598
Net investment in sales-type leases		95			128
Gross notes receivable		5,903			6,117
Allowance for doubtful notes receivable		(432	)		(480	)
Total notes receivable net of allowance		5,471			5,637
Current portion (net of allowance)		1,345			1,391
Long-term portion	$	4,126		$	4,246

The following lists the components of the net investment in sales-type leases as of June 30, 2011 and December 31, 2010:

	June 30, 2011			December 31, 2010
	(in thousands)
Total minimum lease payments to be received	$	103		$	140
Less: unearned income		(8	)		(12	)
Net investment in sales-type leases	$	95		$	128

The current and long-term portions of the Company's net investment in sales-type leases are included in notes receivable in the accompanying consolidated balance sheets. The interest method is used to amortize unearned income, which amortizes unearned income to income over the lease term so as to produce a constant periodic rate of return on the net investment in each lease.  The amortization of unearned income is included in interest income and other in the accompanying consolidated statements of operations.

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Note 7 - Dividends (Detail) (USD $)	3 Months Ended
	Jun. 30, 2011
Common Stock, Dividends, Per Share, Cash Paid	$ 0.06

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Note 11 - Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of Comprehensive Income (Loss) [Table Text Block]

	Three Months Ended June 30,					Six Months Ended June 30,
	2011			2010		2011			2010
	(in thousands)
Net income attributable to Knight Transportation	$	16,358		$	15,836	$	26,214		$	28,180
Other comprehensive income:
Net unrealized loss from available-for-sale securities		(621	)		-		(361	)		-
Total comprehensive income	$	15,737		$	15,836	$	25,853		$	28,180

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Condensed Consolidated Unaudited Statements of Cash Flows (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Cash Flows From Operating Activities:
Net income	$ 26,331	$ 28,152
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	36,825	35,931
Gain on sale of equipment	(2,610)	(1,807)
Earnout on sold investment	0	(718)
Gain from insurance claim settlement	0	(100)
Gain from TRP I earnout	(13)	0
Loss from investment in Transportation Resource Partners III	6	151
Non-cash compensation expense for issuance of stock to certain members of board of directors	112	112
Provision for doubtful accounts and notes receivable	282	1,053
Excess tax benefits related to stock-based compensation	(117)	(291)
Stock-based compensation expense	2,058	2,087
Deferred income taxes	5,688	(5,089)
Changes in operating assets and liabilities:
Short-term investments held for trading	24,379	(25,701)
Trade receivables	(16,903)	(7,742)
Related party interest receivable	(49)	88
Other current assets	(2,747)	(386)
Prepaid expenses	(113)	(1,329)
Income tax receivable	6,914	0
Other long-term assets	(13)	(92)
Accounts payable	3,213	(1,645)
Accrued liabilities and claims accrual	6,612	8,394
Net cash provided by operating activities	89,855	31,068
Cash Flow Used in Investing Activities:
Purchase of property and equipment	(46,783)	(61,548)
Proceeds from sales of equipment	12,909	16,227
Proceeds from insurance claim settlement	0	100
Cash collection from notes receivable	1,687	1,610
Cash issued for notes receivable	(1,258)	(640)
Cash proceeds from related party notes receivable	50	92
Increase in restricted cash	(641)	(50)
Cash received from Concentrek earnout	0	718
Cash received from TRP I earnout	13	0
Investments in Transportation Resource Partners I & III	(288)	(159)
Return of investment in Transportation Resource Partners	0	63
Net cash used in investing activities	(34,311)	(43,587)
Cash Flow Used in Financing Activities:
Dividends paid	(10,018)	(9,180)
Purchase of company stock on open market	(59,200)	0
Excess tax benefits related to stock-based compensation	117	291
Cash investment from noncontrolling interest holder	0	24
Proceeds from exercise of stock options	1,216	3,010
Net cash used in financing activities	(67,885)	(5,855)
Net decrease in cash and cash equivalents	(12,341)	(18,374)
Cash and cash equivalents, beginning of period	28,013	30,812
Cash and cash equivalents, end of period	15,672	12,438
Non-cash investing and financing transactions:
Equipment acquired with accounts payable	4,002	617
Transfer from property and equipment to assets held for sale	4,065	9,084
Financing provided to independent contractors for equipment sold	1,863	1,721
Dividend accrued for restricted stock units	137	153
Cash Flow Information:
Income taxes paid	$ 2,045	$ 23,550

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Note 17 - Related Party Transactions

6 Months Ended

Jun. 30, 2011

Related Party Transactions Disclosure [Text Block]

Note 17.                    Related Party Transactions

We have provided general business loans to US West Agriculture Exporters, LLC, a company that transacts business with our drayage operation, and in which Larry Knight is a 33% owner. Larry Knight is an employee of the Company and the brother of Kevin Knight and Keith Knight, our Chief Executive Officer and Chief Operating Officer, respectively. On April 29, 2010, we entered into an agreement with US West Agriculture Exporters, LLC to consolidate the business loan and interest into one single promissory note bearing interest at 5% per annum. The loan balance including interest due from US West Agriculture Exporters, LLC at June 30, 2011 was approximately $3,037,000, compared to approximately $3,038,000 at December 31, 2010. The principal loan and interest balance is recorded in the “Related party notes and interest receivable” line of our consolidated balance sheets. We also provided transportation services to US West Agriculture Exporters, LLC through December 31, 2010. Transportation services provided to US West Agriculture Exporters have been paid in full.

US West Agriculture Exporters, LLC has discontinued operations as of December 31, 2010.  The loan to US West Agriculture Exporters, LLC is secured by guaranties of the members of US West Agriculture Exporters, LLC.  We are currently working with US West Agriculture Exporters, LLC regarding the repayment of the outstanding balance of the loan and have received a court judgment protecting our rights in the assets of US West Agriculture Exporters, LLC.  Based on its knowledge of the facts, management believes it will recover the entire outstanding principal balance of the loan.

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Note 10 - Marketable Equity Securities (Detail) (USD $)	Sep. 30, 2010
Available-for-sale Securities, Equity Securities	$ 4,900,000
Investments, Fair Value Disclosure	4,300,000
Available-for-sale Securities, Gross Unrealized Losses	$ 581,000

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Note 19 - Subsequent Events

6 Months Ended

Jun. 30, 2011

Subsequent Events [Text Block]

Note 19.                    Subsequent Events

Subsequent to June 30, 2011, we amended the line of credit to (a) extend the maturity date of the line of credit from September 2012 to July 2016; (b) increased the line of credit from $50.0 million to $150.0 million; and (c) replace the previous financial covenants with financial covenants requiring the Company to maintain (i) a ratio of its consolidated debt to consolidated EBITDA of not greater than 2.0 to 1.0 as of each calendar quarter, determined on a rolling four-quarter basis, (ii) positive net income after tax for each fiscal year, (iii) positive pre-tax profit for each fiscal quarter, and (iv) tangible net worth of not less than $325.0 million.

In addition, subsequent to June 30, 2011, we borrowed $20.0 million under our line of credit.  Amounts currently borrowed under the line of credit bear interest at LIBOR plus 0.625%.

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Note 2 - Stock-Based Compensation

6 Months Ended

Jun. 30, 2011

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 2.                     Stock-Based Compensation

We have one stock-based employee compensation plan known as the Knight Transportation, Inc. Amended and Restated 2003 Stock Option and Equity Compensation Plan, as amended and restated in May 2009 (the "2003 Plan").  Stock based compensation cost for the three months and six months ended June 30, 2011 and 2010, respectively, are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	(in thousands)						(in thousands)
	2011			2010			2011			2010
Stock compensation expense for options,  net of forfeitures	$	616		$	893		$	1,315		$	1,663
Stock compensation expense for restricted stock units, net of forfeitures		367			211			743			424
Combined stock compensation expense		983			1,104			2,058			2,087
Income tax		(398	)		(442	)		(823	)		(815	)
Net stock compensation expense after tax	$	585		$	662		$	1,235		$	1,272

We received approximately $0.5 million and $1.2 million in cash from the exercise of stock options during the three months and six months ended June 30, 2011, compared to $1.4 million and $3.0 million for the same period in 2010.

As of June 30, 2011, we have approximately $6.3 million of unrecognized compensation cost related to unvested options granted under the 2003 Plan.  This cost is expected to be recognized over a weighted-average period of 2.25 years and a total period of 6.2 years.  We also have approximately $17.1 million of unrecognized compensation expense related to restricted stock unit awards, which is anticipated to be recognized over a weighted average period of 6.3 years and a total period of 11.6 years.

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option valuation model that uses the following assumptions:

·   Dividend yield – the dividend yield is based on our historical experience and future expectation of dividend payouts.

·   Expected volatility – we analyzed the volatility of our stock using historical data for the past 7 years through the end of the most recent period to estimate the expected volatility.

·   Risk-free interest rate – the risk-free interest rate assumption is based on U.S. Treasury securities at a constant maturity with a maturity period that most closely resembles the expected term of the stock option award.

·   Expected terms – the expected terms of employee stock options represents the weighted-average period the stock options are expected to remain outstanding and has been determined based on an analysis of historical exercise behavior for the past 7 years through the end of the most recent period.

A summary of the option award activity under the 2003 Plan as of June 30, 2011, and changes during the six-month period is presented below:

	Option Totals			Weighted Average Exercise Price Per Share
Outstanding as of December 31, 2010		4,144,476		$	15.68
Granted		-			-
Exercised		(98,137	)		12.29
Forfeited		(77,908	)		16.56
Outstanding as of June 30, 2011		3,968,431		$	15.71

A summary of the restricted stock unit award activity under the 2003 Plan as of June 30, 2011, and changes during the six-month period is presented below:

	Number of Restricted Stock Unit Awards			Weighted Average Grant Date Fair Value
Unvested as of December 31, 2010		1,364,560		$	16.11
Granted		-			-
Vested		(81,513	)		16.11
Forfeited		(14,460	)		16.24
Outstanding as of June 30, 2011		1,268,587		$	16.11

The fair value of each restricted stock unit is based on the closing market price on the date of grant.

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Note 11 - Comprehensive Income

6 Months Ended

Jun. 30, 2011

Comprehensive Income (Loss) Note [Text Block]

Note 11.                    Comprehensive Income

The components of comprehensive income for the periods noted were as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2011			2010		2011			2010
	(in thousands)
Net income attributable to Knight Transportation	$	16,358		$	15,836	$	26,214		$	28,180
Other comprehensive income:
Net unrealized loss from available-for-sale securities		(621	)		-		(361	)		-
Total comprehensive income	$	15,737		$	15,836	$	25,853		$	28,180

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Note 2 - Stock-Based Compensation (Detail) - A Summary of the Option Award Activity Under the 2003 Plan (USD $)	6 Months Ended
	Jun. 30, 2011
Outstanding as of December 31, 2010 (in Shares)	4,144,476
Outstanding as of December 31, 2010	$ 15.68
Exercised (in Shares)	(98,137)
Exercised	$ 12.29
Forfeited (in Shares)	(77,908)
Forfeited	$ 16.56
Outstanding as of June 30, 2011 (in Shares)	3,968,431
Outstanding as of June 30, 2011	$ 15.71

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Note 15 - Fair Value Measurements

6 Months Ended

Jun. 30, 2011

Fair Value Disclosures [Text Block]

Note 15.                    Fair Value Measurements

Our assets and liabilities that have been measured at fair value are based on principles set forth in ASC 820-10 Fair Value Measurements and Disclosure for recurring and non-recurring fair value measurements of financial and non-financial assets and liabilities. Our financial assets and liabilities also include accounts receivable, accounts payable and accrued liabilities. Due to the short-term nature of these instruments, their fair value approximates their carrying value on the balance sheet. This standard defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. This standard establishes a three-level hierarchy for fair value measurements based upon the significant inputs used to determine fair value.  Observable inputs are those which are obtained from market participants external to the Company while unobservable inputs are generally developed internally, utilizing management's estimates, assumptions, and specific knowledge of the nature of the assets or liabilities and related markets.  The three levels are defined as follows:

Level 1 – Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2 – Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs).

Level 3 – Unobservable inputs, only used to the extent that observable inputs are not available, reflect the Company's assumptions about the pricing of an asset or liability.

In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company's financial assets and liabilities that are required to be measured at fair value as of June 30, 2011 and December 31, 2010. 

			Level One		Level Two		Level Three
	Balance at June 30, 2011	Balance at December 31, 2010	Balance at June 30, 2011	Balance at December 31, 2010	Balance at June 30, 2011	Balance at December 31, 2010	Balance at June 30, 2011	Balance at December 31, 2010
	(in thousands)
Assets:
Money market funds	$11,320	$22,856	$11,320	$22,856	-	-	-	-
Trading Securities:
Debt securities - municipal securities	-	$24,379	-	-	-	$24,379	-	-
Available-for-sale Securities:
Equity securities - common shares	$4,331	$4,923	$4,331	$4,923	-	-	-	-
Restricted cash and investments:
Money market funds and debt securities –municipal securities	$3,520	$2,879	$817	$811	$2,703	$2,068	-	-

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Condensed Consolidated Unaudited Balance Sheets (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 15,672	$ 28,013
Short-term investments held for trading	0	24,379
Accounts receivable, net of allowance for doubtful accounts	95,408	78,479
Notes receivable, net of allowance for doubtful accounts	1,345	1,391
Related party notes and interest receivable	3,037	3,038
Prepaid expenses	8,627	8,514
Assets held for sale	3,217	4,132
Other current assets	7,464	4,717
Income tax receivable	0	6,914
Current deferred tax asset	4,434	5,671
Total current assets	139,204	165,248
Revenue equipment	599,148	584,237
Land and land improvements	33,942	31,906
Buildings and improvements	79,625	77,949
Furniture and fixtures	10,515	8,112
Shop and service equipment	6,870	6,511
Leasehold improvements	2,722	2,512
Gross Property and Equipment	732,822	711,227
Less: accumulated depreciation and amortization	(245,439)	(227,518)
Property and equipment, net	487,383	483,709
Notes receivable – long-term	4,126	4,246
Goodwill	10,304	10,313
Intangible assets, net	21	52
Other long-term assets and restricted cash	13,772	13,419
Total assets	654,810	676,987
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	14,424	7,571
Accrued payroll and purchased transportation	10,212	6,547
Accrued liabilities	14,604	11,075
Claims accrual – current portion	13,614	13,843
Dividend payable – current portion	73	1,433
Total current liabilities	52,927	40,469
Claims accrual – long-term portion	10,189	10,168
Dividend payable – long-term portion	1,383	0
Deferred tax liabilities	123,113	118,886
Total long-term liabilities	134,685	129,054
Total liabilities	187,612	169,523
Commitments and Contingencies
Shareholders' Equity:
Preferred stock, $0.01 par value; 50,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.01 par value; 300,000 shares authorized; 80,448 and 83,693 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively	804	837
Additional paid-in capital	130,498	126,975
Accumulated other comprehensive income	(361)	7
Retained earnings	336,209	379,714
Total Knight Transportation shareholders' equity	467,150	507,533
Noncontrolling interest	48	(69)
Total shareholders' equity	467,198	507,464
Total liabilities and shareholders' equity	$ 654,810	$ 676,987

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Note 3 - Earnings Per Share (Detail) - A Reconciliation of the Basic and Diluted Earnings Per Share Computations (USD $) In Thousands, except Per Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Weighted average common shares outstanding – basic	82,785	83,499	83,275	83,427
Dilutive effect of stock options and unvested restricted stock units	522	919	607	845
Weighted average common shares outstanding – diluted	83,307	84,418	83,882	84,272
Net income attributable to Knight Transportation (in Dollars)	$ 16,358	$ 15,836	$ 26,214	$ 28,180
Basic (in Dollars per share)	$ 0.20	$ 0.19	$ 0.31	$ 0.34
Diluted (in Dollars per share)	$ 0.20	$ 0.19	$ 0.31	$ 0.33

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Note 16 - Notes Receivable (Detail)	Jun. 30, 2011	Dec. 31, 2010
Interest Rate Range Notes Receivable	5% to 14%
Loans Outstanding Independent Contractors	208	210

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Note 11 - Comprehensive Income (Detail) - The Components of Comprehensive Income (USD $) In Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Net income attributable to Knight Transportation	$ 16,358	$ 15,836	$ 26,214	$ 28,180
Net unrealized loss from available-for-sale securities	(621)		(361)
Total comprehensive income	$ 15,737	$ 15,836	$ 25,853	$ 28,180

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Note 12 - Assets Held for Sale (Detail) (USD $) In Millions	Jun. 30, 2011	Dec. 31, 2010
Assets Held-for-sale, at Carrying Value	$ 3.2	$ 4.1

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Note 19 - Subsequent Events (Detail) (USD $) In Millions, unless otherwise specified	Jun. 30, 2011
PriorLineOfCredit	$ 50.0
NewLineOfCredit	150.0
PriorEBITDACovenant	2.0
NewEBITDACovenant	1.0
TangibleNetWorth	325.0
Line of Credit Facility, Amount Outstanding	$ 20.0
Debt Instrument, Basis Spread on Variable Rate	0.625%

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Note 3 - Earnings Per Share (Detail) - Certain Shares of Common Stock were Excluded from the Computation of Diluted Earnings Per Share	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Number of anti-dilutive shares	2,412,556	7,500	2,088,856	7,500