Forward Air Corporation has reported record results for the fourth quarter and fiscal year ended December 31, 2006. The company posted the highest quarterly operating revenue in its history.

Operating revenue for the year ended December 31, 2006 increased 9.9% to $352.8 million from $320.9 million for the same period in 2005. Income from operations was $75.4 million, compared with $67.4 million in the prior year, an increase of 11.9%. As a percent of operating revenue, income from operations increased to 21.4% from 21.0% in 2005.

Commenting on the results, Bruce A. Campbell, President and CEO, said, "The difficult market conditions that we began to experience in the third quarter continued to provide an even more challenging freight environment in the fourth quarter. Despite this soft environment, we managed to post an industry-leading 20.3% operating margin, and achieve quarterly revenue growth thanks in large part to the significant increase in our logistics revenue. Additionally, while we experienced a 2.3% weekly tonnage decline during the quarter, we continued to see our weekly shipment count rise by approximately 2%. Our results demonstrate once again that our model can produce results even in a difficult market."

Commenting further, Mr. Campbell said, "While the airport-to-airport business is extremely important to us, as it always will be, as we enter 2007 we do so with an added emphasis on fully implementing our new strategic initiative appropriately named 'Completing the Model.' After over a year of developing, testing and implementing new complementary services, specifically pick-up and delivery, truckload brokerage, value-added handling and airline road feeder services we have directed additional financial as well as human resources to each of these areas in order to accelerate their growth. We are confident that they will contribute to our future revenue growth and operating income."