Hub Group, Inc. Reports Record Revenue and Earnings for the Fourth Quarter and Full Year 2006
Hub Group, Inc. Reports Record Revenue and Earnings for the Fourth Quarter and Full Year 2006
Downers Grove, IL (PRWEB) March 11, 2007 -- Hub Group, Inc. (NASDAQ: HUBG) reports record income from continuing operations for the quarter ended December 31, 2006 of $13.5 million, a 54% increase versus income from continuing operations for the fourth quarter of 2005. Hub Group's diluted earnings per share from continuing operations was $0.34 for the fourth quarter 2006. This represents an increase of 55% compared to last year's fourth quarter diluted earnings per share from continuing operations of $0.22. Hub Group's operating margin increased to 5.2% in 2006 from 3.5% in 2005 due to yield enhancement efforts, improved operational efficiencies and growth in drayage and truck brokerage.
Hub Group's revenue grew by 5.5% to $425.5 million compared to $403.2 million in the fourth quarter of 2005. Fourth quarter intermodal revenue increased 1.6% to $307.1 million, which includes the addition of Comtrak for the entire quarter. Truck brokerage revenue increased 14.5% to $81.5 million this quarter. Fourth quarter logistics revenue increased 24.2% to $36.9 million. Gross margin from continuing operations grew 27.8% to $58.2 million compared to the fourth quarter of 2005.
Conference call -- Hub held a conference call on Monday, February 12, 2007 to discuss its fourth quarter and full year results. Hosting the conference call were David P. Yeager, Vice-Chairman and CEO and Thomas M. White, Senior Vice-President, Chief Financial Officer and Treasurer.
An audio replay of this call is available through the Investors link on the Company's website at http://www.hubgroup.com.
About Hub Group: Hub Group, Inc. is a leading asset light freight transportation management company providing comprehensive intermodal, truckload brokerage and logistics services. The Company operates through a network of over 30 offices throughout the United States, Canada and Mexico.
Certain forward-looking statements: Statements in this press release that are not historical, including statements about Hub Group's or management's earnings guidance, intentions, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and subject to risks. Such statements should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. Factors that could cause actual results to differ materially include the factors listed from time to time in Hub Group's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended December 31, 2005 and Form 10-Q for the periods ended March 31, 2006, June 30, 2006 and September 30, 2006. Hub Group assumes no liability to update any such forward-looking statements.
Source: Hub Group, Inc.
Contact: Amy Lisek of Hub Group, Inc., +1-630-795-2214
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