Hub Group's quarterly net income climbs
Feb 23, 2004 12:00 PM, from staff and wire reports
Hub Group Inc, a non-asset based freight management company, reported earning net income of $2.6 million for the fourth quarter of 2003, a 87.6% increase from the same period in 2002. Revenue in the fourth quarter was $359.2 million, a 3.8% advance over the year-earlier period.
The firm's Supply Chain Solutions logistics unit saw the most significant revenue increase to $37.2 million, a 79.6% jump from the same period a year earlier. Intermodal revenue saw a modest 3% increase to $259.5 million. Truckload brokerage revenue of $48.1 million and distribution services of $14.4 million dropped 6.6% and 34.3%, respectively.
