Operating Revenues Up 8% for Heartland Express
Heartland Express Inc., Coralville, Iowa, said operating revenues for the quarter increased 8.0 percent to $147.1 million from $136.2 million in the third quarter of 2005.
Heartland Express Inc., Coralville, Iowa, said operating revenues for the quarter increased 8.0 percent to $147.1 million from $136.2 million in the third quarter of 2005.
Net income increased 31.2 percent to $23.0 million from $17.5 million in the 2005 period. Earnings per share were $0.23 compared to $0.18 for the third quarter of 2005.
For the nine months ended Sept. 30, 2006, operating revenues increased 10.8 percent to $425.1 million from $383.7 million during the same period in 2005. Net income increased 34.3 percent to $67.5 million from $50.3 million in the 2005 period. Earnings per share were $0.69 compared with $0.51 for the 2005 period.
For the quarter, Heartland Express posted an operating ratio (operating expenses as a percentage of operating revenues) of 77.9 percent and a 15.6 percent net margin. The company reported an operating ratio of 77.4 percent and a 15.9 percent net margin for the nine months ended Sept. 30. The company ended the third quarter with cash, cash equivalents, and short-term investments of $321.9 million, a $34.3 million increase from the $287.6 million reported on Dec. 31, 2005.
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