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Forward Air revenue up 13%, profits jump in 4Q2010

15-Feb-2011 12:54 PM

Forward Air revenue up 13% - financial highlights:

  • Three months ended 31-Dec-2010:
    • Revenue: USD133.3 million, +13.0% year-on-year;
      • Airport-to-airport: USD87.2 million, +19.0%;
    • Costs: USD114.6 million, +8.2%;
    • Operating profit: USD18.7 million, +55.2%;
    • Net profit: USD11.8 million, +88.0%;
  • 12 months ended 31-Dec-2010:
    • Revenue: USD483.9 million, +15.9%;
      • Airport-to-airport: USD321.7 million, +16.6%;
    • Costs: USD430.2 million, +7.9%;
    • Operating profit: USD53.7 million, +189.7%;
    • Net profit: USD32.0 million, +226.8%;
    • Total assets: USD348.8 million, +10.1%;
    • Total liabilities: USD92.7 million, +0.5%;
  • 1Q2011 forecast:
    • Revenue: +9% to +13%;
    • Earnings per share: USD0.20 to USD0.24. [more]

Forward Air: "We expect that improving macroeconomic trends as well as positive trends specific to Forward Air will continue throughout 2011,” Bruce Campbell, President and CEO. Source: Forward Air, 14-Feb-2011.