Forward Air posts fourth quarter profit of US$12 million

FORWARD AIR CORP, a provider of surface transportation and related logistics services to the North American air freight and expedited LTL market, has announced a fourth quarter 2010 profit of US$11.8 million, representing an increase of 88 per cent compared to the same quarter a year earlier.


The Greeneville, Tennessee, company also saw it operating revenue during the October-December 31 quarter surge by 13 per cent, year on year, to $133.3 million, reports the Knoxville News Sentinel.


"Solid demand for our airport-to-airport service along with strong pricing delivered outstanding results for the fourth quarter. We were most encouraged by the continued positive leverage of our business model which produced a 370 basis point improvement as compared to the fourth quarter of 2009," chairman Bruce Campbell was cited as saying in a statement.


The company anticipates the trend to continue and forecasts first quarter revenues will rise between nine and 13 per cent, the report added.
(Source:http://www.schednet.com)