Forward Air reports fourth quarter and fiscal 2007 results

Forward Air Corporation reported results for the fourth quarter and fiscal year ended December 31, 2007. Operating revenue for the quarter increased 22.8% to a record $114.5 million from $93.2 million for the same quarter in 2006. Income from operations was $20.0 million, compared with $18.9 million in the prior-year quarter, an increase of 5.9%. Net income for the quarter ended December 31, 2007 was $12.4 million, compared with $12.2 million in the prior-year quarter.

Operating revenue for the year ended December 31, 2007 increased 11.3% to $392.7 million from $352.8 million for the same period in 2006. Income from operations was $71.0 million, compared with $75.4 million in the prior year, a decrease of 5.8%. Net income during the year decreased 8.2% to $44.9 million from $48.9 million in the prior year. Net income per diluted share for 2007 was $1.50 compared with $1.55 in 2006, a decrease of 3.2%.

Email Post to a Friend Email Post to a Friend

Leave a Reply