Forward Air (FWRD) 8-K Forward Air Corporation Reports

Forward Air Corporation

Summary Segment Results of Operations

(In thousands)

(Unaudited)

	Three months ended March 31, 2015
	Expedited LTL		Truckload Expedited		Pool Distribution		Intermodal		Eliminations and other operations			Consolidated
Revenue	$	122,284	$	34,483	$	27,228	$	23,029	$	(1,106	)	$	205,918
Purchased Transportation	52,937		22,625		7,473		7,064		(762		)	89,337
Salaries, wages, and employee benefits	28,332		4,229		9,983		5,885		5,474			53,903
Operating leases	7,640		326		2,187		2,553		3,050			15,756
Depreciation and amortization	4,576		1,372		1,539		969		228			8,684
Insurance and claims	2,924		553		881		588		184			5,130
Fuel expense	935		895		1,286		901		3			4,020
Other operating expenses	10,055		1,272		3,663		3,080		2,769			20,839
Total operating expenses	107,399		31,272		27,012		21,040		10,946			197,669
Income from operations	$	14,885	$	3,211	$	216	$	1,989	$	(12,052	)	$	8,249

Forward Air Corporation

Summary Segment Results of Operations

(In thousands)

(Unaudited)

	Three months ended June 30, 2015
	Expedited LTL		Truckload Expedited		Pool Distribution			Intermodal		Eliminations and other operations			Consolidated
Revenue	$	156,062	$	39,427	$	27,697		$	27,497	$	(989	)	$	249,694
Purchased Transportation	66,238		25,333		7,564			8,968		(621		)	107,482
Salaries, wages, and employee benefits	37,366		4,527		10,490			6,138		3,365			61,886
Operating leases	10,397		383		2,249			2,925		2,323			18,277
Depreciation and amortization	5,412		1,480		1,475			950		202			9,519
Insurance and claims	2,996		938		963			683		660			6,240
Fuel expense	1,135		895		1,284			869		5			4,188
Other operating expenses	11,722		1,730		3,685			3,646		1,411			22,194
Total operating expenses	135,266		35,286		27,710			24,179		7,345			229,786
Income from operations	$	20,796	$	4,141	$	(13	)	$	3,318	$	(8,334	)	$	19,908

Forward Air Corporation

Summary Segment Results of Operations

(In thousands)

(Unaudited)

	Three months ended September 30, 2015
	Expedited LTL		Truckload Expedited		Pool Distribution		Intermodal		Eliminations and other operations			Consolidated
Revenue	$	149,114	$	38,515	$	32,126	$	28,889	$	(1,551	)	$	247,093
Purchased Transportation	61,727		25,542		8,784		9,414		(1,033		)	104,434
Salaries, wages, and employee benefits	34,260		4,501		12,077		6,151		2,036			59,025
Operating leases	9,828		419		2,658		3,328		839			17,072
Depreciation and amortization	5,283		1,561		1,445		943		167			9,399
Insurance and claims	2,715		807		887		686		66			5,161
Fuel expense	1,001		783		1,314		727		1			3,826
Other operating expenses	12,706		1,732		4,406		4,104		627			23,575
Total operating expenses	127,520		35,345		31,571		25,353		2,703			222,492
Income from operations	$	21,594	$	3,170	$	555	$	3,536	$	(4,254	)	$	24,601

Forward Air Corporation

Summary Segment Results of Operations

(In thousands)

(Unaudited)

	Three months ended December 31, 2015
	Expedited LTL		Truckload Expedited		Pool Distribution		Intermodal		Eliminations and other operations			Consolidated
Revenue	$	149,731	$	40,936	$	42,953	$	24,881	$	(2,081	)	$	256,420
Purchased Transportation	61,908		27,570		11,213		8,314		(1,489		)	107,516
Salaries, wages, and employee benefits	37,568		5,222		15,778		6,059		1,162			65,789
Operating leases	8,410		197		3,463		3,030		67			15,167
Depreciation and amortization	5,407		1,671		1,476		923		79			9,556
Insurance and claims	2,467		726		1,083		621		54			4,951
Fuel expense	880		774		1,532		682		1			3,869
Other operating expenses	11,511		2,009		5,007		2,146		(116		)	20,557
Total operating expenses	128,151		38,169		39,552		21,775		(242		)	227,405
Income from operations	$	21,580	$	2,767	$	3,401	$	3,106	$	(1,839	)	$	29,015