Forward Air Reports 1Q Loss

Forward Air Corp. said it lost $3.1 million, or 11 cents per share, compared with a profit of $10 million, or 35 cents, a year ago.

Revenue fell 10.5% to $96.6 million, the company said late Monday.

Income from operations, adjusted to exclude a $7.2 million pre-tax impairment charge, fell to $2.1 million, from $16.7 million a year ago.

The company said it expects its second-quarter per-share income to be 6 cents to 12 cents per share.

Forward Air, a contractor to the air cargo industry, is ranked No. 65 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.