Hub Group net profits soar 97%
Hub Group Inc., a non-asset-based freight management company based in Downers Grove, Ill., reported record first quarter net income of $5.3 million, a 97 percent increase from $2.7 million in the year earlier period.
Operating income for the first period was $9.1 million up 45 percent from $6.3 million in the same period of 2004. Revenues were up 3.5 percent to $339.9 million from $328.3 million.
Hub said reduced costs and increased margins were behind the record results.
