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Forward Air Profit Soars

Air freight trucker Forward Air finished a record 2005 with a 20.8 percent gain in net profit in the 4th quarter to $12.2 million on a 15 percent gain in revenue to $89.1 million.

Greeneville, Tenn.-based Forward Air earned net income for the full year of $44.9 million, up 30.5 percent from the year before on operating revenue of $320.9 million, up 14 percent from a year earlier.

The company's core airport-to-airport business grew 16 percent for the year, but logistics and accessorial revenue was flat.

"The year ended strong with average weekly tonnage increasing over 11.0 percent in the fourth quarter. We also produced record operating income and operating margins, ending 2005 with an industry-leading 21.0 percent operating margin," said president and CEO Bruce A. Campbell.

"As we enter 2006, we are optimistic as tonnage levels and pricing remain strong," Campbell said.

 

 


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