Forward Air Reports Higher Income, Record Revenue

October 26, 2005 10:00 AM, EDT

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orward Air Corp., a contractor to the air cargo industry, said late Tuesday its third-quarter net income rose 34.4% to $12.1 million or 38 cents a share, from $9 million or 27 cents for the same quarter last year.

img src="/sites/default/files/images/articles/forwardair.gif" width=150 align=right>Operating revenue rose 17.9% to a record $84.8 million, Forward Air said in a statement.

“We continue to experience strong growth in the airport-to-airport portion of our business with revenue increasing over 20% in the third quarter,” said Bruce Campbell, chief executive officer.

Forward Air in the second quarter acquired the airport-to-airport assets of truckload carrier U.S. Xpress Enterprises, for $12.75 million. (Click here for previous coverage.)

Forward Air Corp. is ranked No. 72 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.