FORWARD AIR’s EARNINGS SLIP

FORWARD AIRÆS EARNINGS SLIP    Forward Air Corp., the air cargo industry contractor for time-definite services in the United States and Canada, said Monday that earnings were off slightly for its fourth quarter and 2001.
   Fourth-quarter net income was $4.6 million, down from $6.6 million for the year-earlier period. Operating revenue was $56.5 million, down from $57.7 million.    Operating income was $7.3 million, down from $10.4 million.
   For 2001, net income was $19.9 million, compared with $23.4 million in 2000. Operating revenues improved to $227.5 million, from $214.9 million. Operating income was $31.7 million, down from $37.3 million in 2000.
   'Forward Air grew revenue for the 12th consecutive year, despite all the challenges that occurred during the year,' said Bruce A. Campbell, president and chief operating officer.
   Campbell said the company was impacted by the decline in demand for high-value goods and for expedited and time-definite services. The company's insurance and claims costs also impacted fourth quarter and year-end results.