Forward Air earnings up sharply in Q3

   Forward Air Corp. said it had profit of $12.9 million in the third quarter ending Sept. 30, 45 percent more than the $8.9 million earned in the same 2010 period.
   Revenue for the third quarter was $135.7 million, 11 percent higher than the $121.5 million in the third quarter of 2010.
   “We started the quarter with some intermittent softness in network volumes. Over the course of the quarter, tonnage firmed up very nicely, ending the quarter with system tonnage up 9.5 percent for the month of September as compared to September one year ago. We would characterize current volume trends as being moderately better than normal seasonality,” said Bruce A. Campbell, Forward Air’s chairman, president, and chief executive officer, in a statement.
   The firm said it expects fourth quarter 2011 revenues will be 10 percent to 14 percent higher than the comparable 2010 period.
   Forward Air provides time-definite trucking services to the air cargo industry through a network of terminals located on or near major airports in 85 cities in the United States and Canada. It provides the service as an alternative to air transport of cargo that must be delivered at a specific time but is relatively less time-sensitive than traditional air freight or when air transportation is not economical.