Heartland Express reports lower 1Q profit, higher revenue

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Heartland Express Inc. on Tuesday, April 22, announced financial results for the quarter ended March 31. Operating revenues for the quarter increased 3.9 percent to $149.0 million from $143.4 million in the first quarter of 2007. Net income decreased 35.0 percent to $14.7 million from $22.6 million in the 2007 period.

The North Liberty, Iowa-based company said operating income during the quarter was impacted negatively by about $5.1 million due to continued increases in fuel costs, net of fuel surcharge revenue. Further, operating income was reduced by abougt $5.0 million compared to the first quarter of 2007 due to a decline in gains on disposals of property and equipment.