J.B. Hunt Transport Services (JBHT) 8-K J. B. Hunt Transport Services, Inc. Reports Revenues and Earnings

Exhibit 99.1

J.B. Hunt Transport Services, Inc.	Contact:  David G. Mee
615 J.B. Hunt Corporate Drive	Executive Vice President, Finance/Administration
Lowell, Arkansas 72745	and Chief Financial Officer
(NASDAQ:  JBHT)	(479) 820-8363

FOR IMMEDIATE RELEASE

J. B. HUNT TRANSPORT SERVICES, INC. REPORTS REVENUES AND EARNINGS

FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2010

§     Fourth Quarter 2010 Revenue:	$1.02 billion;  up 16%
§     Fourth Quarter 2010 Operating Income:	$97   million;  up 33%
§     Fourth Quarter 2010 EPS:	46 cents vs.  32 cents
§     Full Year 2010 Revenue:	$3.79 billion;  up 18%
§     Full Year 2010 Operating Income:	$348 million;  up 40%
§     Full Year 2010 EPS:	$1.56 vs. $1.05

LOWELL, ARKANSAS, January 28, 2011 -  J. B. Hunt Transport Services, Inc., (NASDAQ:JBHT) announced fourth quarter 2010 net earnings of $ 57.9 million, or diluted earnings per share of 46 cents vs. 2009 fourth quarter earnings of $41.7 million, or 32 cents per diluted share.

Total operating revenue for the current quarter was $1.02 billion compared with $877 million for the fourth quarter 2009.  This increase in operating revenue was primarily attributable to 13% higher Intermodal segment volumes and revenue growth in our Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS) segments.  Current quarter operating revenue, excluding fuel surcharges, increased 13% vs. the comparable quarter 2009.

Operating income for the current quarter increased to $97.3 million vs. $72.9 million for the fourth quarter 2009.  This increase was primarily due to a 30% increase in Intermodal operating income and positive Truck operating income vs. a loss last year.

Compared with the same period 2009, net interest expense in the current quarter was up $1.4 million, primarily due to higher debt levels.  The effective income tax rate for the current quarter was 35.1% vs. 40.7% in 2009.  This decrease in the effective tax rate was related to the resolution of uncertain tax positions and a sale last year of all the Company’s interest in Transplace, which increased last year’s tax rate.

“In 2010, we continued our strategic mission of integrating our distinct and complementary services, while simultaneously maintaining execution discipline in our four business segments.  Our portfolio of services offers a comprehensive approach to the supply chain solutions we can provide our customers.

“By taking a more ‘horizontal view’ of the flow of inventory beginning with 1) manufacturing and importing, 2) various distribution channels, 3) retail replenishment and 4) final delivery to the consumer, we see a growing correlation in our ability to provide a higher level of value to our customers. Collaborating with strategically minded clients in pursuit of new ways to connect our services and generate increased efficiencies continues to be a priority.

”We are generally pleased with the year’s progress of all of our businesses, given the sluggish and prolonged macroeconomic conditions under which we operate.  Attention to revenue quality and the appropriate addition of assets across all business segments remain a constant focus. We are especially pleased with the continued efforts shown by our employee associates who safely deliver industry-leading service and strive for improved asset utilization,” said John N. Roberts III, President and CEO.

Segment Information:

Intermodal (JBI)

§ Fourth Quarter 2010 Segment Revenue: $588 million;  up 20%

§ Fourth Quarter 2010 Operating Income: $69.9 million; up 30%

JBI’s increased revenue for the current quarter was driven by a 13% increase in load count, base price increases of 2% and higher fuel surcharges over the same quarter a year ago.  Volume increases for the eastern network were 23% while transcontinental business grew at 10% from the same period 2009.  West coast demand remained strong, continuing the need for abnormally high levels of empty repositions. We had approximately 45,700 containers and trailers at year end to be well positioned for 2011 growth.

Operating income improved 30% over the same period last year.  This improvement was mostly driven by increases in volume and modest price recovery.  Our focus on cost reduction, increased container utilization and reduced usage of outside dray services also contributed to the improvement in margin from the same quarter 2009. Railroad service was consistent throughout the current quarter and contributed to our ability to meet peak demand levels in different parts of the country.

Demand for expanded intermodal services continued as new over the road freight conversion opportunities were identified.  Pricing continued to recover as railroad, driver and equipment cost increases were able to be passed through to customers as contracts came due.

Dedicated Contract Services (DCS)

§ Fourth quarter 2010 Segment Revenue: $238 million:  up 15%

§ Fourth quarter 2010 Operating Income: $19.6 million; up 5%

DCS revenue increased 15% while revenue, excluding fuel surcharges, increased 13% over the same period 2009.  Revenue in our delivery channel, defined as delivering product to its point of consumption, increased 28% and revenue in our replenishment channel, defined as delivering product to point of sale, increased 21% vs. the same quarter 2009. The revenue increases in delivery and replenishment channels related to new contracts awarded in each channel.  Revenue in our capacity channel, which has more traditional truck-load characteristics, declined 22% as we continued to move away from this highly competitive business.

Operating income increased 5% vs. the same quarter 2009.  Our productivity increased 6% vs. same quarter 2009.  We define productivity as revenue per truck per week, excluding fuel surcharges.  The leverage we gained in the current quarter due to increases in revenue and productivity was diluted by unusually high casualty and workers’ compensation costs in the current quarter.

Truck (JBT)

§ Fourth Quarter 2010 Segment Revenue: $118 million;  up 0.1%

§ Fourth Quarter 2010 Operating Income: $4.4 million vs. $(1.3) million

JBT revenue for the current quarter increased slightly vs. the same period 2009 despite a 10% reduction in tractors year-over-year.  Excluding fuel surcharges, current quarter revenue decreased 2% vs. the same quarter 2009.  At the end of the current quarter, our tractor count was 2,588 vs. 2,861 in 2009.

Rate per mile, excluding fuel surcharges, gained 8% over the same period in 2009.  Moreover, the average length of haul was 4% longer than a year ago, multiplying the effect of the year-over-year rate change.  Rates from consistent shippers improved year-over-year by 5.1% and spot prices gained 9.5%.

Fuel prices increased significantly throughout the quarter.  Our current quarter fuel cost per gallon was 16% above the fourth quarter 2009 and 9% over the last quarter.

Integrated Capacity Solutions (ICS)

§ Fourth Quarter 2010 Segment Revenue: $83 million;   up 24%

§ Fourth Quarter 2010 Operating Income: $3.3 million;  up 89%

ICS revenue increased 24% vs. fourth quarter 2009, due to a 6% increase in load volume and higher pricing in both our contractual and transactional business. Our gross profit  (gross revenue less purchased transportation expense) increased 20% to $11.4 million from fourth quarter 2009, however our  gross profit margin decreased to 13.8% in the current quarter vs. 14.2% last year due to higher transportation costs and higher fuel prices. Our carrier base increased 14% and our end of period employee count increased 2% compared to fourth quarter 2009.

Cash Flow and Capitalization:

At December 31, 2010, we had total debt outstanding of $654 million on various debt instruments compared to $565 million at December 31, 2009 and $649 million at September 30, 2010.

Our net capital expenditures for the year ended 2010 approximated $226 million vs. $249 million in 2009.  At December 21, 2010, we had cash and cash equivalents of $7.7 million.

During the current quarter we used $76 million to purchase approximately 2 million shares of our common stock.  At December 31, 2010, we had approximately $249 million remaining under a previously announced $500 million share repurchase authorization.  Actual shares outstanding at December 31, 2010 were approximately 121 million.

This press release may contain forward-looking statements, which are based on information currently available.  Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2009. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason.  This press release and additional information will be available to interested parties at our web site, www.jbhunt.com.

J.B. HUNT TRANSPORT SERVICES, INC.

Condensed Consolidated Statements of Earnings

(in thousands, except per share data)

(unaudited)

	Three Months Ended December 31
	2010					2009
			% Of						% Of
	Amount		Revenue			Amount			Revenue
Operating revenues, excluding fuel surcharge revenues	$	873,522				$	769,716
Fuel surcharge revenues		146,490					107,237
Total operating revenues		1,020,012		100.0	%		876,953			100.0	%
Operating expenses
Rents and purchased transportation		470,252		46.1	%		397,061			45.3	%
Salaries, wages and employee benefits		237,176		23.3	%		209,547			23.9	%
Fuel and fuel taxes		94,189		9.2	%		79,068			9.0	%
Depreciation and amortization		50,094		4.9	%		47,491			5.4	%
Operating supplies and expenses		37,987		3.7	%		37,197			4.2	%
Insurance and claims		13,538		1.3	%		12,773			1.5	%
General and administrative expenses, net of asset dispositions		8,389		0.8	%		9,326			1.1	%
Operating taxes and licenses		6,864		0.7	%		7,113			0.8	%
Communication and utilities		4,175		0.5	%		4,441			0.5	%
Total operating expenses		922,664		90.5	%		804,017			91.7	%
Operating income		97,348		9.5	%		72,936			8.3	%
Net interest expense		8,164		0.8	%		6,790			0.8	%
Equity in operations of affiliated companies		-		-			(4,075	)		(0.5	%)
Earnings before income taxes		89,184		8.7	%		70,221			8.0	%
Income taxes		31,331		3.0	%		28,556			3.3	%
Net earnings	$	57,853		5.7	%	$	41,665			4.8	%
Average diluted shares outstanding		125,413					130,092
Diluted earnings per share	$	0.46				$	0.32

J.B. HUNT TRANSPORT SERVICES, INC.
Condensed Consolidated Statements of Earnings
(in thousands, except per share data)
(unaudited)
	Twelve Months Ended December 31
	2010					2009
			% Of						% Of
	Amount		Revenue			Amount			Revenue
Operating revenues, excluding fuel surcharge revenues	$	3,277,218				$	2,877,052
Fuel surcharge revenues		516,267					326,269
Total operating revenues		3,793,485		100.0	%		3,203,321			100.0	%
Operating expenses
Rents and purchased transportation		1,711,204		45.1	%		1,398,109			43.6	%
Salaries, wages and employee benefits		911,028		24.0	%		798,272			24.9	%
Fuel and fuel taxes		343,700		9.1	%		273,521			8.5	%
Depreciation and amortization		197,062		5.2	%		189,045			5.9	%
Operating supplies and expenses		152,500		4.0	%		151,887			4.7	%
Insurance and claims		48,280		1.3	%		50,797			1.6	%
General and administrative expenses, net of asset dispositions		37,017		1.0	%		47,407			1.5	%
Operating taxes and licenses		26,895		0.7	%		28,014			0.9	%
Communication and utilities		18,174		0.4	%		18,298			0.6	%
Total operating expenses		3,445,860		90.8	%		2,955,350			92.3	%
Operating income		347,625		9.2	%		247,971			7.7	%
Net interest expense		27,931		0.8	%		27,359			0.9	%
Equity in operations of affiliated companies		-		-			(3,456	)		(0.1	%)
Earnings before income taxes		319,694		8.4	%		224,068			7.0	%
Income taxes		120,077		3.1	%		87,633			2.7	%
Net earnings	$	199,617		5.3	%	$	136,435			4.3	%
Average diluted shares outstanding		127,767					129,462
Diluted earnings per share	$	1.56				$	1.05

Financial Information By Segment
(in thousands)
(unaudited)
	Three Months Ended December 31
	2010						2009
				% Of						% Of
	Amount			Total			Amount			Total
Revenue
Intermodal	$	588,020			58	%	$	491,830			56	%
Dedicated		237,855			23	%		206,440			24	%
Truck		118,048			12	%		117,890			13	%
Integrated Capacity Solutions		82,929			8	%		66,838			8	%
Subtotal		1,026,852			101	%		882,998			101	%
Intersegment eliminations		(6,840	)		(1	%)		(6,045	)		(1	%)
Consolidated revenue	$	1,020,012			100	%	$	876,953			100	%
Operating income
Intermodal	$	69,884			72	%	$	53,699			74	%
Dedicated		19,614			20	%		18,668			26	%
Truck		4,397			5	%		(1,272	)		(2	%)
Integrated Capacity Solutions		3,261			3	%		1,722			2	%
Other (1)		192			0	%		119			0	%
Operating income	$	97,348			100	%	$	72,936			100	%

	Twelve Months Ended December 31
	2010						2009
				% Of						% Of
	Amount			Total			Amount			Total
Revenue
Intermodal	$	2,141,200			56	%	$	1,764,223			55	%
Dedicated		906,760			24	%		756,882			24	%
Truck		479,475			13	%		446,716			14	%
Integrated Capacity Solutions		290,914			8	%		259,074			8	%
Subtotal		3,818,349			101	%		3,226,895			101	%
Intersegment eliminations		(24,864	)		(1	%)		(23,574	)		(1	%)
Consolidated revenue	$	3,793,485			100	%	$	3,203,321			100	%
Operating income
Intermodal	$	237,232			68	%	$	183,377			74	%
Dedicated		82,407			24	%		62,973			25	%
Truck		18,698			5	%		(11,531	)		(4	%)
Integrated Capacity Solutions		9,275			3	%		13,103			5	%
Other (1)		13			0	%		49			0	%
Operating income	$	347,625			100	%	$	247,971			100	%

(1)   Includes corporate support activity

Operating Statistics by Segment
(unaudited)
	Three Months Ended December 31
	2010			2009
Intermodal
Loads		285,581			252,027
Average length of haul		1,782			1,806
Revenue per load	$	2,059		$	1,951
Average tractors during the period *		2,665			2,312
Tractors (end of period)
Company-owned		2,592			2,303
Independent contractor		81			5
Total tractors		2,673			2,308
Trailing equipment (end of period)		45,666			40,170
Average effective trailing equipment usage		43,834			40,006
Dedicated
Loads		355,047			320,804
Average length of haul		197			202
Revenue per truck per week**	$	4,076		$	3,783
Average trucks during the period***		4,573			4,357
Trucks (end of period)
Company-owned		4,259			3,969
Independent contractor		23			31
Customer-owned (Dedicated operated)		357			358
Total trucks		4,639			4,358
Trailing equipment (end of period)		10,688			9,739
Average effective trailing equipment usage		12,323			11,796
Truck
Loads		109,923			126,317
Average length of haul		530			511
Loaded miles (000)		57,451			63,929
Total miles (000)		65,901			74,073
Average nonpaid empty miles per load		74.9			74.9
Revenue per tractor per week**	$	3,445		$	3,087
Average tractors during the period *		2,707			3,035
Tractors (end of period)
Company-owned		1,697			1,698
Independent contractor		891			1,163
Total tractors		2,588			2,861
Trailers (end of period)		10,115			12,550
Average effective trailing equipment usage		8,739			10,465
Integrated Capacity Solutions
Loads		61,538			57,887
Revenue per load	$	1,348		$	1,155
Gross profit margin		13.8	%		14.2	%
Employee count (end of period)		329			323
Approximate number of third-party carriers (end of period)		25,600			22,400
* Includes company-owned and independent contractor tractors
** Using weighted workdays
*** Includes company-owned, independent contractor, and customer-owned trucks

Operating Statistics by Segment
(unaudited)
	Twelve Months Ended December 31
	2010			2009
Intermodal
Loads		1,075,027			915,413
Average length of haul		1,777			1,796
Revenue per load	$	1,992		$	1,927
Average tractors during the period *		2,531			2,206
Tractors (end of period)
Company-owned		2,592			2,303
Independent contractor		81			5
Total tractors		2,673			2,308
Trailing equipment (end of period)		45,666			40,170
Average effective trailing equipment usage		41,434			37,182
Dedicated
Loads		1,383,565			1,209,055
Average length of haul		197			207
Revenue per truck per week**	$	3,956		$	3,384
Average trucks during the period***		4,468			4,382
Trucks (end of period)
Company-owned		4,259			3,969
Independent contractor		23			31
Customer-owned (Dedicated operated)		357			358
Total trucks		4,639			4,358
Trailing equipment (end of period)		10,688			9,739
Average effective trailing equipment usage		12,297			12,136
Truck
Loads		465,493			498,426
Average length of haul		522			486
Loaded miles (000)		240,088			241,281
Total miles (000)		274,857			279,589
Average nonpaid empty miles per load		68.7			73.8
Revenue per tractor per week**	$	3,370		$	2,809
Average tractors during the period*		2,788			3,120
Tractors (end of period)
Company-owned		1,697			1,698
Independent contractor		891			1,163
Total tractors		2,588			2,861
Trailers (end of period)		10,115			12,550
Average effective trailing equipment usage		9,329			10,177
Integrated Capacity Solutions
Loads		230,726			237,378
Revenue per load	$	1,261		$	1,091
Gross profit margin		14.2	%		17.9	%
Employee count (end of period)		329			323
Approximate number of third-party carriers (end of period)		25,600			22,400
* Includes company-owned and independent contractor tractors
** Using weighted workdays
*** Includes company-owned, independent contractor, and customer-owned trucks

J.B. HUNT TRANSPORT SERVICES, INC.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
	December 31, 2010		December 31, 2009
ASSETS
Current assets:
Cash and cash equivalents	$	7,651	$	7,843
Accounts Receivable		351,187		310,339
Prepaid expenses and other		103,807		74,283
Total current assets		462,645		392,465
Property and equipment		2,338,336		2,192,947
Less accumulated depreciation		858,852		748,276
Net property and equipment		1,479,484		1,444,671
Other assets		19,531		19,778
	$	1,961,660	$	1,856,914
LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
Current debt	$	200,000	$	-
Trade accounts payable		192,103		191,347
Claims accruals		32,641		18,545
Accrued payroll		57,149		34,651
Other accrued expenses		19,191		14,170
Deferred income taxes		8,865		10,505
Total current liabilities		509,949		269,218
Long-term debt		454,207		565,000
Other long-term liabilities		39,480		35,581
Deferred income taxes		385,003		343,262
Stockholders' equity		573,021		643,853
	$	1,961,660	$	1,856,914

Supplemental Data
(unaudited)
	December 31, 2010		December 31, 2009
Actual shares outstanding at end of period (000)		121,490		127,242
Book value per actual share outstanding at end of period	$	4.72	$	5.06
	Twelve Months Ended December 31
		2010		2009
Net cash provided by operating activities (000)	$	428,078	$	356,923
Net capital expenditures (000)	$	225,932	$	249,473

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