Heartland Express Inc. said that its gross revenues for the quarter increased 14.6% to $104.5 million compared to the third quarter of last year.
Heartland Express said its 3Q net income increased 30.9% to $14.5 million from $11.1 million in the 2002 period. The company said it is the 10th consecutive quarter of year-over-year growth of revenues and net income.
The company added that its revenue for the first nine months increased 21.4% to $302.1 from, and its net income increased 20.7% to $38.2 million compared to the same period in 2002.
For the quarter, Heartland Express posted an operating ratio of 79.4% and a 13.9% net margin. The company ended the first nine months of 2003 with an operating ratio of 81.3% and a 12.6% net margin.
