Forward Air Corporation (NASDAQ:FWRD) has reported operating revenue, income from operations, net income and diluted earnings per share for the three months ended March 31, 2018, the company said.
Operating revenue for the quarter ended March 31, 2018 increased 15.5% to USD 302.6 million from USD 262.0 million for the same quarter in 2017. Income from operations was USD 24.2 million, compared to USD 23.7 million in the prior year quarter. Net income during the period was USD 17.7 million compared to USD 14.6 million in the first quarter of 2017. Net income per diluted share for the first quarter of 2018 was USD 0.60 compared to USD 0.48 in the prior year quarter.
On April 20, 2018, our board of directors declared a quarterly cash dividend of USD 0.15 per share of common stock. The dividend is payable to shareholders of record at the close of business on May 25, 2018, and is expected to be paid on June 8, 2018.
Forward Air keeps business moving forward by providing services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Premium Services (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region).