Heartland Express, a truckload carrier based in Coralville, IA, said its 2001 fourth-quarter net income jumped nearly 25%, boosting its income for all of 2001 by nearly 10%.
For the fourth quarter of 2001, Heartland said its revenue increased 4.6% to $73.5 million from $70.3 million in the same quarter in 2000. Net income increased 24.8% to $9.9 million from $7.9 million in the same period in 2000.
For the year, Heartland said revenues increased 7.2% to $294.6 million from $274.8 million in 2000. Net income climbed 9.8% to $37.7 million, up from $34.3 million in the 2000.
Heartland added that its operating ratio reached 80.9% for the quarter and 82.1% for 2001 overall. The carrier said it ended the year with no debt and $161 million in cash and short-term investments as compared to $128 million at the end of 2000.