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1/28/2014 4:10:00 PM Write a Letter to the Editor Write a letter to the Editor

Hub Group’s 4Q Earnings Fall

Hub Group Inc. said its net income fell in the fourth quarter of 2013 but increased in the full year.

Hub saw a profit of $16.5 million in the quarter, or 45 cents a share, compared with the previous year’s $18.8 million, or 51 cents, it said Jan. 28.

The company took an impairment charge of $2.9 million in the quarter related to changing the trade name of Comtrak Logistics to Hub Group Trucking. Without that charge, profit was 50 cents a share.

Revenue rose to $885.2 million from $801 million. Costs increased in a variety of categories, including salaries, commissions and depreciation, Hub said.

For the full year, profit grew to $69.1 million, or $1.88 a share, compared with $68 million, or $1.83, in 2012. Hub saw $3.4 billion in revenue for the year compared with $3.1 billion the previous year.

“We had a solid year and are focused on our strategic initiatives to deliver strong results in 2014,” Hub Chairman and CEO David Yeager said in a statement.

By Transport Topics

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