Heartland Express reports lower 1Q profit, higher revenue


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.