JOC Staff | Jan 24, 2013 2:20PM EST
Trucking company Heartland Express reported its profit in the fourth quarter of 2012 was $14.3 million, dropping 16.5 percent from $17.1 million in the fourth quarter of 2011.
For the full year of 2012, income was $61.5 million, falling 12.0 percent from $69.9 million in 2011.
Quarterly revenue increased 3.8 percent year-over-year from $131.2 million to $136.2 million, however, and yearly revenue rose 3.2 percent from $528.6 million to $545.7 million.
The drops in profit for the fourth quarter and year were primarily because of declines in gains on disposal of property and equipment, the company said in a written statement.
The company’s operating ratio also unfavorably increased from 79.5 percent in the fourth quarter of 2011 to 81.9 percent in the fourth quarter of 2012. For the year, Heartland Express posted an operating ratio of 82.6 percent, compared with 79.8 percent in 2011.