Heartland Express Inc. said that its third-quarter revenue increased 23.3% to $91.1 million from $73.9 million in the third quarter of 2001, while its net income increased 20.2% to $11.1 million from $9.2 million in the 2001 period.
For the nine months, revenue increased 12.5% to $248.8 from $221.1 during the same period in 2001. Net income increased 13.8% to $31.6 million from $27.8 million in the 2001 period.
The carrier ended the third quarter with cash, cash equivalents, and investments of $156.3 million, a $4.8 million decrease from the $161.1 million reported on December 31, 2001. The company said its balance sheet continues to be debt-free.
