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Forward Air Reports Flat Fourth-Quarter Profit
Forward Air Corp., a contractor to the air cargo industry, reported its fourth-quarter net income matched the previous year’s, at $12.2 million, while earnings per share climbed to 40 cents a share from 38 cents.
Operating revenue for the quarter rose 4.6% to $93.2 million, a record, the company said late Monday.For the year, Forward Air posted a profit of $48.9 million or $1.55 per share, up from $44.9 million or $1.39 a year earlier.Full-year revenue rose 10% to $352.8 million.Forward Air Corp. is ranked No. 72 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.