In its quarterly report released Friday, J.B. Hunt Transport Services said its fourth-quarter net income rose, as its trucking, intermodal and dedicated contract carriage units all reported improvement.
The company announced fourth quarter 2010 net earnings of $57.9 million, or diluted earnings per share of 46 cents vs. 2009 fourth quarter earnings of $41.7 million, or 32 cents per diluted share.
“Operating income improved 30 percent over the same period last year. This improvement was mostly driven by increases in volume and modest price recovery,” noted John N. Roberts III, JBI president CEO. “Our focus on cost reduction, increased container utilization and reduced usage of outside dray services also contributed to the improvement in margin from the same quarter 2009. Railroad service was consistent throughout the current quarter and contributed to our ability to meet peak demand levels in different parts of the country.”
Total operating revenue for the current quarter was $1.02 billion compared with $877 million for the fourth quarter 2009. This increase in operating revenue was primarily attributable to 13 percent higher Intermodal segment volumes and revenue growth in our Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS) segments. Current quarter operating revenue, excluding fuel surcharges, increased 13 percent over the comparable quarter in 2009.
Among the performance highlights outlined in the report:
* Fourth Quarter 2010 Revenue: $1.02 billion; up 16 percent
* Fourth Quarter 2010 Operating Income: $97 million; up 33 percent
* Fourth Quarter 2010 EPS: 46 cents vs. 32 cents
* Full Year 2010 Revenue: $3.79 billion; up 18 percent
* Full Year 2010 Operating Income: $348 million; up 40 percent
* Full Year 2010 EPS: $1.56 vs. $1.05
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