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

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.