Heartland Express Inc. (HTLD) reported that its first-quarter 2013 net income rose to $19.7 million from $16.6 million in the 2012 period, a 19.0% increase. Earnings per share increased 21.4% to $0.23 from $0.19 in the first quarter of 2012.
Operating income for the quarter was $30.21 million, up from $ 23.78 million last year. Operating income for the quarter was positively impacted by a $7.0 million increase in gains on disposal of property and equipment but was negatively impacted by weather complications year over year. Also, with Easter and Good Friday falling in the first quarter of 2013 compared to being in the second quarter of 2012, as well as 2012 being a Leap Year, first quarter revenues were negatively impacted by less business days.
Operating revenues for the quarter were relatively flat at $134.3 million versus $134.8 million in the first quarter of 2012.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share on revenues of $ 137.97 million for the quarter. Analysts' estimates typically exclude special items.
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