Iowa-based Heartland Express Inc. said its operating revenues for the quarter increased 4.8 percent to $146.8 million from $140.1 million in the fourth quarter of 2005. Net income decreased 9.2 percent
to $19.6 million from $21.6 million in the 2005 period.
For the year ended Dec. 31, 2006, operating revenues increased 9.2 percent to $571.9 from $523.8 during the same period in 2005. Net income increased 21.2 percent to $87.2 million from $71.9 million in the 2005 period.
For the quarter, Heartland posted an operating ratio (operating expenses as a percentage of operating revenues) of 81.4 percent and a 13.4 percent net margin. The company reported an operating ratio of 78.4 percent and a 15.2 percent net margin for the year.
The company completed the upgrade of its tractor fleet during the quarter, taking. The company took delivery of 400 new International tractors during the period and will take delivery of additional units in the first quarter. The average age of the company’s tractor fleet was 1.2 years at Dec. 31, 2006. The average age of the company’s trailer fleet was 3.1 years at Dec. 31, 2006, with primarily the entire trailer fleet consisting of 2002 or newer model year Wabash trailers.