Air-cargo trucking company Forward Air Corp. said its revenue and income dropped in the quarter and the year despite an increase in revenue.
Forward Air said its operating revenue for the fourth quarter dropped to $56.5 million, compared with $57.7 million for the same quarter in 2000. Income from continuing operations also declined, dropping to $4.6 million compared with $6.6 million in the same quarter the previous year.
Greenville, TN-based Forward Air said its operating revenue for the year rose slightly to $227.5 million, up from $214.9 million in 2000. However, income from continuing operations for 2001 dropped to $19.9 million, down from $23.4 million in 2000.