Business

Forward Air Corp., a contractor to the air cargo industry, reported its fourth-quarter net income matched the previous year’s, at $12.2 million, while earnings per share climbed to 40 cents a share from 38 cents.

Package-delivery and supply chain management firm Velocity Express said Tuesday it lost $15.2 million or 61 cents a share in its second quarter ended Dec. 30, compared with a loss of $5.6 million or 35 cents a year ago.

Logistics firm Expeditors International of Washington on Tuesday said its fourth-quarter profits fell to $62.6 million or 28 cents a share, down from $74.3 million or 34 cents a year ago.

Wisconsin Gov. Jim Doyle (D) has proposed a new tax on oil companies to help raise needed funds for the state’s transportation projects, the Associated Press reported Tuesday.

Bankrupt auto-parts maker Delphi Corp. said losses in its third quarter ended Sep. 30 widened to $2 billion from $788 million in the third quarter of 2005 as the company spent more on job cuts and U.S. auto makers produced fewer cars, Bloomberg reported Tuesday.

Third-party logistics provider Hub Group said late Monday it earned $13.5 million or 34 cents a share in the fourth quarter, up from $10.1 million or 25 cents a share for the same quarter a year earlier.

Ryder System said Monday its board approved a 3-cent increase in its dividend, boosting the payout to 21 cents a share.

Private-equity firm Fenway Partners said Monday it has partnered with the current owners of refrigerated-unit carrier Gemini Traffic Sales to acquire a majority interest in the truckload and less-than-truckload carrier.

Volvo AB has no plans to pursue a takeover of German truck maker MAN AG, as it would not get European Union regulatory approval to do so, Bloomberg reported Monday.

Average U.S. retail gasoline prices rose 4 cents over the past three weeks to $2.22 a gallon, according to the latest Lundberg survey of gasoline prices released Sunday.