Heartland Express posts higher 4Q revenue, lower net income

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Heartland Express announced Thursday, Jan. 24, that for the period ending Dec. 31, fourth-quarter revenue increased 4.1 percent to $152.8 million from $146.8 million during the same period year ago.

Net income was off 15.4 percent for the quarter, falling to $16.6 million from $19.6 million in the 2006 period. Higher fuel costs affected operating income in the fourth quarter by about $4.6 million, according to the North Liberty, Iowa-based company.

For the year ended Dec. 31, operating revenue increased 3.5 percent to $591.9 million from $571.9 million during the same period in 2006. Net income decreased 12.6 percent to $76.2 million from $87.2 million a year ago.

Operating income for the year was impacted negatively by an $8 million decrease in gains on disposal of property and equipment, and by about $10.5 million due to an increase in fuel costs, net of fuel surcharge revenue, Heartland Express said.