Forward Air’s Fourth-Quarter Income Rises

Forward Air Corp. said its fourth-quarter net income rose from a year ago and that its revenue also improved.

Net income rose to $16 million, or 54 cents a share, from $14.5 million, or 51 cents, a year ago. Revenue rose 4.9% to $155.5 million.

Logistics revenue fell to $15.4 million from $16 million, the company said in a statement.

Its full-year net income rose to $83.5 million, or $1.78 per share, from $77.1 million, or $1.60. Revenue increased 8.9% to $584.4 million.

The carrier projects first-quarter earnings of 36 cents to 40 cents a share, compared with 35 cents in the year-ago period.

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.