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Hub Group reports strong increase in profits as revenues fall 03 February 2016

Q4 saw record earnings levels

Hub Group saw net income for the year ended December 31, 2015 climb to US$70.9 million, up from US$51.6 million in 2014. Full year 2015 pre-tax income included one-time costs of US$2.3 million including a US$1.4 million Canadian currency translation loss and US$0.9 million of severance in Q1. Operating income increased to US$117.0 million in 2015, from US$83.9 million in 2014. Hub Group's revenue decreased 1.0% to US$3.5 billion.

Hub Group reported net income of US$22.4 million for Q4 ended December 31, 2015 compared to US$16.4 million in Q4, 2014, as revenue decreased 3.0% to US$890.0 million compared to fourth quarter 2014 revenue.  The revenue decline related primarily to lower fuel revenue.

The Hub segment's revenue decreased 4.0% to US$669.0 million compared to Q4, 2014 revenue.  Q4 intermodal revenue decreased 4.0% to US$446.0 million. Truck brokerage revenue increased 6.0% to US$89.0 million this quarter. Q4 Unyson Logistics revenue decreased 10.0% to US$134.0 million. Operating income was US$28.4 million, an increase of 49.0% compared to the prior year period.

The Mode segment's revenue decreased 1.0% to US$242.0 million compared to Q4, 2014 revenue. Operating income was US$6.9 million, an increase of 22.0% compared to the prior year period.

The Company’s Board of Directors has authorised the purchase of up to US$100.0 million of its Class A common stock.  This authorisation expires in December 2016.