Heartland’s 4Q Profit Falls

Truckload carrier Heartland Express said its fourth-profit dropped 44.8% from a year ago.

Earnings were $10.7 million, down from $19.4 million a year ago. Per-share earnings decreased to 12 cents, from 20 cents.

Revenue fell 19.6% to $114.2 million, from $142 million in 2008.

Heartland said that freight demand in the fourth quarter “continued to be soft.” It believes freight volumes have stabilized, but the carrier cannot predict when it expects volumes to increase.

For the 2009 fiscal year, net income fell 18.6% to $56.9 million. Earnings per share fell to 62 cents, from 73 cents in 2008.

Heartland Express is ranked No. 43 on the Transport Topics 100 listing of U.S. and Canadian for-hire trucking companies.