Forward Air Corporation Reports Q4 EPS of $0.41 vs. $0.38

Forward Air Corporation FWRD today reported results for the fourth quarter and year ended December 31, 2010. Operating revenue for the quarter ended December 31, 2010 increased 13.0% to $133.3 million from $118.0 million for the same quarter in 2009. Income from operations was $18.7 million, compared with $12.1 million for the fourth quarter of 2009, an increase of 54.5%. As a percent of operating revenue, income from operations increased to 14.0% from 10.3% for the same quarter last year. Net income during the period increased by $5.5 million, or 88.0%, to $11.8 million from $6.3 million in the fourth quarter of 2009. Net income per diluted share for the fourth quarter of 2010 was $0.41 compared with $0.22 in the same quarter in 2009, an increase of 86.4%.