* Q4 EPS $0.22 vs est $0.19
* Sees Q1 rev up 6 to 10 pct
* Cautiously optimistic about 2010
Feb 8 Air cargo company Forward Air Corp
(FWRD.O) posted better-than-expected fourth-quarter results, as
some business segments improved, and forecast an increase in
revenue after four straight quarters of decline.
The company expects first-quarter revenue to grow 6 percent
to 10 percent, while earnings are expected at 8 cents to 12
cents a share.
Analysts were looking for earnings of 8 cents a share and
revenue growth of about 4.6 percent, according to Thomson
"Although we were encouraged by the trends that started at
the end of the third quarter and which continued throughout the
fourth quarter, we remain very cautious, yet optimistic, in our
outlook for 2010," CEO Bruce Campbell said in a statement.
The company's fourth-quarter net income fell to $6.4
million, or 22 cents a share, from $8.3 million, or 29 cents a
share, a year ago.
Operating revenue was down 4 percent at $118.0 million.
Analysts were expecting earnings of 19 cents a share on
revenue of $110.6 million.
Shares of the company closed at $21.97 Monday on Nasdaq.
(Reporting by A. Ananthalakshmi in Bangalore ; Editing by