Hub Group sees dip in second-quarter income
The Hub Group Inc., the big intermodal marketing company, saw its second-quarter net income dip 11.5 percent to $2.3 million, despite a 7.8-percent increase in revenue, to $344.3 million.
''''Intermodal revenue improved 4 percent to $247.7 million, truckload brokerage revenue rose 10.5 percent to $53.4 million and logistics revenue jumped 31.1 percent to $43.2 million.
'''''The company's net revenue increased 14.2 percent during the quarter and all of our service offerings experienced an accelerating rate of growth when compared to the first quarter,' said Phillip C. Yeager, Hub Group chairman.
''''Lombard, Ill.-based Hub Group has more than 30 offices throughout the United States, Canada, Europe and Mexico.