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    Hub Group subsidiary may have overstated earnings

    Feb. 13, 2002
    Hub Group Inc. said today that one of its subsidiaries, Hub Group Distribution Services (HGDS), may have overstated its earnings by $3 to $4 million over the last three years, and is investigating HGDS's financial statements from 1999 to 2001 to find out where it occurred. Hub Group said it will delay its 2001 financial statement release until March, pending the completion of its investigation. HGDS,
    Hub Group Inc. said today that one of its subsidiaries, Hub Group Distribution Services (HGDS), may have overstated its earnings by $3 to $4 million over the last three years, and is investigating HGDS's financial statements from 1999 to 2001 to find out where it occurred.

    Hub Group said it will delay its 2001 financial statement release until March, pending the completion of its investigation.

    HGDS, which is 65% owned by Hub Group, was formed in 1990 to handle Hub's logistics and distribution services.

    About the Author

    Sean Kilcarr | Editor in Chief

    Sean previously reported and commented on trends affecting the many different strata of the trucking industry. Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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