NORTH LIBERTY, Iowa, April 16, 2013 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq:HTLD) announced today financial results for the quarter ended March 31, 2013. Operating revenues for the quarter were relatively flat at $134.3 million versus $134.8 million in the first quarter of 2012. Net income was $19.7 million compared to $16.6 million in the 2012 period, a 19.0% increase. Basic earnings per share increased 21.4% to $0.23 from $0.19 reported in the first quarter of 2012. Operating income for the three month period was positively impacted by a $7.0 million increase in gains on disposal of property and equipment but was negatively impacted by weather complications year over year. Also, with Easter and Good Friday falling in the first quarter of 2013 compared to being in the second quarter of 2012, as well as 2012 being a Leap Year, first quarter revenues were negatively impacted by less business days. For the quarter, Heartland Express, Inc. (the "Company") posted an operating ratio (operating expenses as a percentage of operating revenues) of 77.5% and a 14.7% net margin (net income as a percentage of operating revenues) compared to 82.4% and 12.3%, respectively, in the first quarter of last year.
Heartland Express, Inc. Reports Revenues And Earnings For The First Quarter Of 2013
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.