Despite a seemingly all encompassing world financial crisis, Forward Air Corporation, the company that provides road based freight and logistics services to the air cargo industry, has reported a profit for the third quarter of some $121.5 million dollars, a 24.2% percent increase over the same period in 2007.

Additional statistics released by the company indicate an operating revenue up until the thirtieth of September this year of $351 million dollars, again an increase from 2007, a period which saw revenue of $278.3 million dollars.

Commenting on the positive financial results, Forward Air Corporation’s Chairman, President and Chief Executive Officer, Bruce Campbell, said that that “we are very pleased to announce record revenues, income and earnings for the third quarter. Our people’s ability to react to the mid-quarter industry-wide decline in freight makes this performance truly extraordinary. Outside of the slowing in our core airport-to-airport business we continued to see impressive results from our TLX (truckload expedited) truckload brokerage and our Forward Air Complete door-to-door delivery groups.”

Campbell also made mention of two of the company’s most recent acquisitions.  The latest of the these, completed in early September, was the acquisition of Service Express, the South Carolina based pool transportation provider, which according to Campbell “adds five new terminals in cities that compliment our geographic footprint in the Southeast and Mid-Atlantic.”  Campbell also said that Forward Air’s existing pool business has seen “several organic sales wins”  and that the company has made gains toward the goal of integrating the March acquisition of Pinch Transportation.

Concluding his remarks and eluding to the current financial issues, Campbell emphasised that “our people are working hard to position solutions for success in 2009, regardless of the economic environment.”

Forward Air Corporation is a provider of time-definite surface transportation and related logistics services to the North American air freight and expedited less-than-truckload market. The company providing scheduled surface transportation of cargo as an alternative to air transportation.

Source: Business Wire and Forward Air Corporation

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