J.B. HUNT SEES BOOST IN 4TH-QUARTER EARNINGS

J.B. HUNT SEES BOOST IN 4TH-QUARTER EARNINGS

   J.B. Hunt Transport Services Inc., the Lowell, Ark.-based motor carrier, reported fourth-quarter net earnings of $18.2 million, up 66.9 percent from the year-earlier period.

   The company's results were buoyed by a change in method of estimating and recording ultimate costs related to liability and workers' compensation charges, resulting in a $10.2-million increase in earnings.

   Net earnings for the period were reduced by $1.7 million, reflecting the company's equity in the results of its Mexican joint venture and its investment in Transplace.com. This compares with earnings of $1.2 million, which were recognized in the fourth quarter of 2000. The loss on the Mexican business venture is primarily from the anticipated sale of the company's interests.

   Operating revenues for the fourth quarter was $545.5 million, up from $534.0 million during the fourth quarter of 2000.

   J.B. Hunt said it saw improved operating income in the truck and intermodal business units. Operating ratios improved to 97.9 percent for the truck, and from 100.7 percent; to 93.3 percent for intermodal, from 95.1 percent. The dedicated contract services business unit saw operating ratio slip to 95.6 percent, from 95.0 percent.

   The company also benefited from sharply lower fuel prices in the fourth quarter of 2001.