AIRBORNE LAUNCHES GROUND DELIVERY SERVICE
The Hub Group Inc., a Lombard, Ill.-based non-asset based freight transportation management company, reported a net loss of $700,000 for the first quarter of 2001, compared to a net loss of $300,000 in the first quarter of 2000.
Hub said the first quarter 2001 results included charges to earnings for asset impairment, loss on disposal and excess depreciation, which equaled $2.1 million. Excluding those charges, net income would have been $1.4 million.
Revenue rose 5.3 percent to $345.9 million in the most recent quarter. Intermodal revenue rose 2.4 percent to $243,5 million. Brokerage revenue was $51.1 million, up 2.9 percent. Overall logistics revenue increased 24.6 percent to $51.3 million.
Within Hub’s logistics sector, the Hub Group Distribution Services reported increased revenue of 4.6 percent. Revenue from the company’s supply chain solutions increased by 68.3 percent.