Server: Microsoft-IIS/4.0 Beta 3 Date: Thu, 20 Nov 1997 15:58:26 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Wed, 14 Aug 1996 19:03:48 GMT ETag: "0c2bd52138abb1:1678" Content-Length: 3178 HUB GROUP, INC
HUB GROUP, INC. ANNOUNCES RESULTS
FOR SECOND QUARTER ENDED JUNE 30, 1996

July 23, 1996-(Lombard, IL) Hub Group, Inc. (NASDAQ: HUBG) reported results of operations for the quarters ended June 30, 1995 and June 30, 1996.

The Company acquired the general partnership interests in the Hub Partnerships on March 18, 1996 and the rights to service the customers of American President Lines Domestic Distribution Services (APL-DDS) on May 2, 1996 and has included the respective results of operations in the Company's financials from the date of acquisition. Consolidated results of operations for the second quarter of 1996 include Hub Chicago, Hub Partnerships and APL-DDS. Results of operations for the second quarter of 1995 reflect only the revenue and expense of Hub Chicago.

Revenues increased to $209.2 million from $20.7 million principally due to the acquisition of Hub Partnerships and APL-DDS. Net income increased to $1.7 million from $0.4 million in the comparable period last year. Earnings per share for the second quarter of 1996 was 28 versus 22 in the second quarter of 1995.

Hub Chairman, Phillip C. Yeager said, "Hub Chicago and Hub Partnerships' revenues in the second quarter showed continued growth over the prior year. Overall consolidated revenues excluding the business acquired from APL increased 16.7% over the second quarter, 1995. Intermodal transportation increased 4.3% for the period and our logistics and truck brokerage businesses enjoyed double digit increases. Although we have recently strengthened our national sales force and operating companies with additional personnel to accommodate the APL acquisition as well as continued expansion, net profits and earnings per share were ahead of analysts' expectations."

Net income and earnings per share for the second quarter of 1996 on a pro from a basis giving effect to the APL transaction will be lower than the results reported above; however, the Company's incremental costs in servicing the former APL customers are significantly lower than the historical costs incurred by APL in serving those customers are significantly lower than the historical costs incurred by APL in serving those customers, consequently, management expects that the APL transaction will have a positive impact on the Company's net income and earnings per share.

Hub Group, Inc. is a leading non-asset based transportation services company providing comprehensive Intermodal, truckload, LTL, air freight, international and related logistics services. The company operates through a network of 34 companies in the U.S., Canada and Mexico. Media contacts, Hub Group: William L. Crowder or Mark A. Yeager, 708/271-3600

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