Hub Group’s Fourth-Quarter Profit Declines

Intermodal firm Hub Group Inc.’s fourth-quarter net income fell 20% to $14.2 million, or 38 cents a share, from $18 million, or 47 cents, a year ago.

Revenue fell 3% to $430.5 million from $445.5 million, the company said. Hub Group also does third-party logistics and freight brokerage.

“Intermodal and truck brokerage volume has been lower than expected due to the rapid downturn in the economy,” Hub Group said in a statement.

For the full year, it earned $59.2 million, or $1.58 per share, compared with $59.8 million, or $1.53, in 2007. Revenue rose 12% to $1.86 billion.

The company said in December it expected to earn $1.56 to $1.61 per share for 2008, down from its previous forecast of $1.65 to $1.70 per share.

For 2009, Hub Group said it expects to earn $1.40 to $1.65 per share.