Heartland, an Iowa City-based truckload carrier, has increased its 1Q net income 18.7% over the same period last year, to $13.1 million. Earnings blossomed despite hikes in fuel prices and higher wages, the company says.
First quarter operating revenue increased 12.6% to $106 million over 1Q 2003.
During the quarter driver pay was increased 3 cents per mile in response to shortages in qualified drivers. Heartland’s payroll increased 23% up from the same period last year to $39.7 million.
The company noted that it increased management efforts in education of its customer and drivers in response to the new hours of service regulations.