Heartland Earnings/Revenue Flat
January 27, 2000
Heartland Express, Coralville, IA, reported 1999 fourth quarter of nearly $8.45 million, compared with $8.35 million in the fourth quarter of 1998.
The fleet's Heartland's 1999 net income was more than $33.12 million, compared with nearly $33.11 million in 1998.
Fourth quarter results were impacted by increased driver wages and fuel cost. During the period, the company also completed the conversion of its tractor fleet to Century Class Freightliners.
The operating ratio for the 12 months ended Dec. 31, 1999 was 82.9 percent, compared with 82.5 percent for 1998. But the 1999 operating ratio was 83.3 percent prior to the gains
recognized from the sale of real estate.