Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements of Operations

v2.4.0.6
Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Forward Air      
Airport-to-airport $ 361,630 $ 321,702 $ 268,245
Logistics 74,394 64,935 54,067
Other 27,640 25,130 23,076
Forward Air Solutions      
Pool distribution 72,738 72,172 72,022
Total operating revenue 536,402 483,939 417,410
Forward Air      
Airport-to-airport 142,705 129,111 112,516
Logistics 56,259 50,225 42,188
Other 6,681 6,288 5,234
Forward Air Solutions      
Pool distribution 17,355 15,747 14,490
Total purchased transportation 223,000 201,371 174,428
Salaries, wages and employee benefits 130,651 129,108 118,804
Operating leases 27,122 26,252 27,294
Depreciation and amortization 20,993 20,450 19,722
Insurance and claims 8,798 8,425 9,719
Fuel expense 10,041 8,461 7,312
Other operating expenses 38,687 36,133 34,424
Impairment of goodwill and other intangible assets 0 0 7,157
Total operating expenses 459,292 430,200 398,860
Income from operations 77,110 53,739 18,550
Other income (expense):      
Interest expense (619) (730) (670)
Other, net 74 90 69
Total other expense (545) (640) (601)
Income before income taxes 76,565 53,099 17,949
Income taxes 29,366 21,063 8,147
Net income $ 47,199 $ 32,036 $ 9,802
Net income per share:      
Basic (in dollars per share) $ 1.62 $ 1.11 $ 0.34
Diluted (in dollars per share) $ 1.60 $ 1.10 $ 0.34
Weighted average shares outstanding:      
Basic (in shares) 29,052 28,984 28,928
Diluted (in shares) 29,435 29,111 28,993
Dividends per share (in dollars per share) $ 0.28 $ 0.28 $ 0.28