Hub Group subsidiary may have overstated earnings

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.

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