Hub Group posts 2nd-quarter net income of $7.9 million
The Hub Group, a non-asset-based provider of freight transportation management and logistics services, reported second quarter net income of $7.9 million, up 95 percent over the second quarter of 2004.
Hub's revenue increased 6.5 percent to $371.6 million from $349.0 million.
The company's sectors posted the following results for the second quarter: intermodal revenue up 4.6 percent to $259.3 million; truckload brokerage up 19.8 percent to $68.0 million; logistics revenue up 2.2 percent to $34.5 million.
Also in the second quarter, revenue for Hub Group Distribution Services decreased 6.3 percent to $9.8 million.
Hub's costs and expenses decreased 5.5 percent to $33.4 million from $35.4 million.
'We are pleased with our record second quarter. Our focus on yield management, while maintaining effective control of our costs, continues to generate strong shareholder returns,' said David P. Yeager, vice-chairman and chief executive officer of Hub Group, which is based in Downers Grove, Ill.