Forward Air’s 4Q Income Rises

Forward Air Corp. said late Tuesday its fourth-quarter net income rose to $14.4 million, or 50 cents per share, from $11.8 million, or 41 cents, a year earlier.

Revenue rose to $148.3 million, from $133.3 million a year ago, Forward Air said in a statement.

For the full year, net income climbed to $47.2 million, or $1.60 per share, from $32 million, or $1.10 per share, in 2010. Revenue rose to $536.4 million, from $483.9 million a year earlier.

The company estimated its first-quarter revenue will rise 8% to 12% over the same quarter in 2011 and that its earnings per share will be between 31 and 35 cents per share, up from 27 cents in the first quarter of 2011.

Forward Air, a contractor to the air cargo industry, is ranked No. 46 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.