Hub Group Has First Quarter Loss
April 21, 2000
Hub Group, Inc., Lombard, IL, reported a loss in the first quarter largely attributable to one-time charges of approximately $700,000 and dramatically higher fuel costs.
Revenue totaled $328.6 million, an increase of 6.8% over the comparable period in 1999. Intermodal revenue increased 3.4% to $237.7 million. Truckload brokerage revenue increased 9.3% to $49.7 million, while logistics revenue increased 27.1% to $41.1 million.
The company reported a net loss of $317,000, or $0.04 per share, compared to net income of $1.9 million, or $0.25 per share, in the first quarter of 1999.
The one-time charges included costs associated with the closing of a warehouse operation in Alabama, the closing of a marginally performing office and severance payments associated with these decisions.