Hub Group 4Q income rises 36 percent

DOWNERS GROVE — Hub Group, Inc. reported fourth quarter income increased 36 percent based on strong performance by all of the company’s segments.

The company said its income for the quarter was $17 million, up n increase of 36 percent from the same period last year. Diluted earnings per share was 46 cents for the quarter an increase of 35 percent compared to last years.

“Despite the uncertain economic environment, Hub Group closed out 2011 with another quarter of strong operating results,” said David P. Yeager, chairman and chief executive officer of Hub Group.

The Hub segments’ revenue increased 20 percent to $577 million. Fourth quarter intermodal revenue increased 23 percent to $419 million.  The company said the increase was attributed to a 16 percent volume increase and a 7 percent increase for fuel, price and mix.

 Truck brokerage revenue increased 3 percent to $82 million for the quarter, while Unyson Logistics revenue increased 27 percent to $76 million.  Hub’s operating income increased $4.5 million to $23.7 million, which represents an increase of 23 percent when compared with the prior year period.  The Hub results include approximately $500,000 of restructuring costs.

The Mode segment’s revenue was $195 million for the fourth quarter.  Operating income was $3.4 million.  The Mode results include approximately $500,000 of costs related to integration.