Boyd Bros. Reports Improved Second Quarter Results as Diluted EPS More Than Doubles to $0.22 from $0.10 Same Quarter Last Year.

Business Editors

Boyd Bros. Transportation Inc. (Nasdaq/SmallCap: BOYD) today reported improved financial results for the second quarter and six months ended June 30, 2002.

Aside from higher comparable operating revenues for second quarter, the Company's interim results reflected a strong profit rebound for Boyd Bros., which reported earnings before income taxes of more than $1 million for the quarter. This was the highest quarterly pre-tax profit level achieved by the Company in more than two years and underscored a sharp reversal from the losses reported in each of the last two trailing quarters.

"Obviously, we are very pleased to report that Boyd Bros. returned to profitability during the second quarter," said Gail B. Cooper, President and Chief Executive Officer. "Supporting this rebound, both of our divisions achieved higher operating income for the quarter compared with the same period last year as the Boyd Bros. division once again moved into profitable territory and as WTI showed ongoing improvement."

For the quarter ended June 30, 2002, operating revenues rose 3% to $32,710,472 from $31,670,305 in the comparable period last year. Net income increased 115% to $607,350 or $0.22 per diluted share versus $282,711 or $0.10 per diluted share in the same quarter of 2001.

For the first half of 2002, operating revenues rose 2% to $63,303,441 from $61,929,025 in the same period last year. Net income for the first six months of 2002 was $319,251 or $0.12 per diluted share, which compared with net loss of $10,191 or $0.00 per share in the year-earlier period.

"While freight levels have continued to improve modestly, offering some optimism that the fragile economic recovery will be sustained, it is apparent that much of our rebound can be traced to the Company's focus over the last year on operational processes and communication initiatives designed to improve performance, increase accountability and provide proper incentives for better execution. We believe these efforts have led to reduced expenses in several significant areas, such as in the area of safety costs. Combined with the effects of lower costs for fuel, operating supplies, and taxes and licenses, these savings helped more than offset higher costs experienced for owner-operators during the quarter to produce an improvement in the Company's operating ratio for the period. When added to the effect of lower interest expense for the quarter, largely due to rate declines over the past year, the impact on net income is even more significant."

Cooper noted that Boyd Bros. recently launched a new service assurance program with a goal of further improving the Company's already high service and reliability levels. "Our objective is to build on the strong Boyd Bros. reputation and establish the Company as "Best in Industry" for on-time delivery and service dependability," she said. "To do this, we have developed sophisticated new internal systems, using existing and enhanced satellite-tracking capabilities, to monitor the positions of all loads and to anticipate the movement of freight across our system. Constantly assessing our load commitments against a number of variables, we hope to pinpoint problems before they actually occur so that preventive actions can be taken to ensure on-time delivery. We are excited about the early results of this new program, which we implemented only a few weeks ago, and we believe efforts such as these will continue to differentiate Boyd Bros. as the quality choice in flatbed trucking."

Concluding, Cooper said the Company remained cautiously optimistic about the business outlook for the second half of 2002. "Although the economic recovery has not been as robust as we had hoped, the growth we have experienced in freight thus far this year has been encouraging, and we believe the competitive environment is now somewhat more favorable due to capacity contraction over this past down cycle. These factors support our belief that prospects are good for moderately higher revenues in the second half compared with the same period last year, assuming that the general economic conditions do not deteriorate again. On the expense side, we will continue to emphasize the programs and initiatives that have already led to operational efficiencies and improved performance. Of course, many costs, like fuel, are beyond our direct control, or as in the case of safety costs, where we are essentially self-insured for most property and casualty exposures, which present significant unpredictable risks. If favorable trends continue in these areas, as seen this past quarter, we believe the Company will continue to post improved profits in the second half of 2002 versus the same period last year."

Boyd Bros. Transportation Inc. is one of the largest flatbed trucking companies in the United States. The Company provides transportation services to high-volume, time-sensitive customers, primarily in the steel and building materials industries, and operates throughout most of the continental United States. For more information about the Company, visit Boyd Bros. on the Internet at www.boydbros.com.

With the exception of historical information, the matters discussed and statements made in this release constitute forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Specifically, this release contains forward-looking statements regarding the likely benefits from cost reductions; the programs being undertaken by the Company to increase service and reliability levels; expectations regarding the freight business and the economy; and results in future quarters and for the year. Whenever possible, the Company has identified these forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934) by words such as "anticipates," "may," "believes," "estimates," "projects," "expects," "intends," and words of similar import. Forward-looking statements contained in this release involve certain assumptions, risks and uncertainties that could cause actual results to differ materially from those included in or contemplated by the statements. In particular, there can be no assurance that following factors will not have a negative impact on the Company's expectations: whether the Company's cost reductions will continue to result in an increase in the Company's revenue; whether the Company's long-term service assurance program will be successful; whether business conditions and the economy will improve, including the transportation and construction sectors in particular; the Company's ability to recruit and retain qualified drivers; the ability to control internal costs, particularly rising fuel costs that may or may not be passed on to the Company's customers; departures and defaults by owner-operators; the cost of complying with governmental regulations that are applicable to the Company; costs associated with increased insurance and claims expense, and other risk factors. These assumptions, risks and uncertainties include, but are not limited to, those discussed or indicated in all documents filed by the company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2001. The Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

                    BOYD BROS. TRANSPORTATION INC.
                    Unaudited Financial Highlights

                   Three Months Ended           Six Months Ended
                         June 30,                    June 30,
                -------------------------   -------------------------
                    2002          2001          2002          2001
                -----------   -----------   -----------   -----------
Operating
 revenues       $32,710,472   $31,670,305   $63,303,441   $61,929,025
Operating
 income           1,530,102     1,171,774     1,475,449     1,625,118
Pre-tax income    1,021,774       543,305       571,300       111,928
Provision for
 income taxes       414,424       260,594       252,051       122,119
Net income
 (loss)         $   607,350   $   282,711   $   319,251   $   (10,191)
Net income (loss)
 per share -
 basic and
 diluted        $      0.22   $      0.10   $      0.12   $     (0.00)
Weighted average
 shares
 outstanding      2,708,105     2,841,379     2,708,967     2,886,619