Heartland's Income Drops

Heartland Express said its third-quarter profit fell 19.3% from a year ago.

Net income fell to $12.4 million, or 15 cents per share, from $15.4 million, or 17 cents, a year ago.

Revenue rose 1.9% to $135 million, the truckload carrier said Thursday.

Heartland said it was continuing to upgrade its trailer fleet and that it took delivery of 496 new Wabash trailers in the third quarter.

By the end of the 2012, its entire trailer fleet will be 2007 models or newer, Heartland said.

Heartland Express is ranked No. 47 on the Transport Topics 100 listing of U.S. and Canadian for-hire trucking companies.

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Heartland's 3Q Income Slips

Tom Biery/Trans Pixs

Heartland Express said its third-quarter profit slipped to $15.4 million, or 17 cents per share, from $18.3 million, or 20 cents, a year ago.

Revenue rose 4.2% to $132.5 million, including a 46.2% jump in fuel surcharges, the truckload carrier said late Tuesday.

The company said it took delivery of 196 International ProStar Plus trucks in the quarter and said it expects to buy 329 new trucks by the end of the year.

It said it took delivery of 715 new Great Dane and Wabash trailers in the quarter, that it s sold 866 trailers in the quarter and has sold a total of 2,453 trailers in the first nine months of this year.

Heartland’s founder, Russell Gerdin, passed away earlier this month at the age of 70. His CEO duties were transferred to his son Michael in September.

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