This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Forward Air Corporation Reports Fourth Quarter And Fiscal 2011 Results And Announces Quarterly Cash Dividend

Forward Air Corporation (NASDAQ:FWRD) today reported results for the fourth quarter and year ended December 31, 2011.

Operating revenue for the quarter ended December 31, 2011 increased 11.2% to $148.2 million from $133.3 million for the same quarter in 2010. Income from operations was $23.6 million, compared with $18.7 million for the fourth quarter of 2010, an increase of 26.2%. As a percent of operating revenue, income from operations increased to 15.9% for the fourth quarter of 2011 from 14.0% in the same quarter of 2010. Net income per diluted share for the fourth quarter of 2011 was $0.50 compared with $0.41 in the same quarter of 2010, an increase of 22.0%.

Operating revenue for the year ended December 31, 2011 increased 10.8% to $536.4 million from $483.9 million for the year ended December 31, 2010. Income from operations was $77.1 million, compared with $53.7 million in 2010. The Company's net income for the year ended December 31, 2011, was $47.2 million, compared with $32.0 million in 2010. Net income per diluted share for the year ended December 31, 2011 was $1.60 compared with $1.10 in 2010.

Bruce A. Campbell, Chairman, President and CEO, said, “We are pleased to announce that a solid fourth quarter completed a record breaking performance year for 2011. Strong demand for our service offerings produced record breaking operating revenue, operating income and earnings per share. While not a record, our 85.6% operating ratio for 2011 was an impressive 330 basis points improvement over 2010.”

Commenting further, Mr. Campbell said, “With the benefit of the Forward Air business model, which continues to exhibit ample operating leverage, a solid pricing environment and current inventory and shipping trends that favor our expedited time-definite service offerings, our team is anxious to deliver even better results to our shareholders in 2012.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs