Updated:
2/14/2011 4:45:00 PM
Forward Air Corp. said late Monday its fourth-quarter net income almost doubled, to $11.8 million, or 41 cents per share, from $6.3 million, or 22 cents, a year earlier.
Revenue rose 13% to $133.3 million, while income from operations jumped 54.5% to $18.7 million, Forward Air said in a statement.
The company had predicted its revenue would rise 12% to 17% and income would be 35 to 39 cents per share for the quarter.
For the full year, net income jumped to $32 million, or $1.10 per share, from $9.8 million, or 34 cents, in 2009. Revenue rose 16% to $483.9 million, and income from operations rose to $53.7 million, from $18.6 million.
The company estimated its first-quarter revenue will rise 9% to 13% over the comparable 2010 period and that its earnings per share will be between 20 and 24 cents per share, up from 12 cents a year ago.
Forward Air, a contractor to the air cargo industry, is ranked No. 52 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
© 2010, Transport Topics Publishing Group. All rights reserved.
RELATED ARTICLES
Forward Air’s 4Q Income Almost Doubles (2/14/2011 4:45:00 PM)
Truckload Profits Rise Sharply as Rate Increases Accelerate (10/25/2010 11:00:00 AM)
Forward Air Reports Higher 3Q Income (10/20/2010 4:30:00 PM)
Forward Air Reports Higher 2Q Income (7/22/2010 4:30:00 PM)
Wall Street Expects Better News as Fleets Report Latest Results (7/12/2010 8:30:00 AM)
Most Fleets Report Profit Gains, Expect Stronger Second Quarter (4/26/2010 8:15:00 AM)
OTHER NEWS BRIEFS
