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
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